Advertisement
Singapore markets close in 55 minutes
  • Straits Times Index

    3,174.96
    +3.03 (+0.10%)
     
  • Nikkei

    40,003.60
    +263.20 (+0.66%)
     
  • Hang Seng

    16,556.23
    -180.87 (-1.08%)
     
  • FTSE 100

    7,722.55
    0.00 (0.00%)
     
  • Bitcoin USD

    64,427.68
    -3,684.89 (-5.41%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • Dow

    38,790.43
    +75.63 (+0.20%)
     
  • Nasdaq

    16,103.45
    +130.25 (+0.82%)
     
  • Gold

    2,158.20
    -6.10 (-0.28%)
     
  • Crude Oil

    82.50
    -0.22 (-0.27%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,546.84
    -6.80 (-0.44%)
     
  • Jakarta Composite Index

    7,350.67
    +48.21 (+0.66%)
     
  • PSE Index

    6,848.43
    -4.86 (-0.07%)
     

New accreditation for renovation businesses

A new voluntary accreditation scheme was recently launched to give homeowners more assurance when securing the services of renovation contractors, reported The Straits Times.

The CaseTrust-RCMA joint accreditation scheme was developed by the Singapore Renovation Contractors and Material Suppliers Association (RCMA) and the Consumers Association of Singapore (Case) following an agreement signed in August 2014.

But unlike the previous CaseTrust scheme, the new one also protects the deposits of homeowners in the event the contractor disappears or closes shop.

Both schemes require firms to have proper and clear dispute-resolution mechanisms, on-site workmanship assessment, trained staff and clear policies on fees and refunds.

ADVERTISEMENT

Five renovation contractors have already been accredited under the new scheme, while 12 are still in the process of being accredited.

It gives customers confidence in us, and it also helps us to really bring up our standard, said Rezt and Relax Interior Executive Director Wilson Teh.

Other firms that were accredited are Ciseern by Designer Furnishings, Add Space Design, Vegas Interior Design and Sky Creation Design.

The CaseTrust-RCMA accredited firms should offer a deposit performance bond which covers the deposits of customers up to 20 percent of the contract value, if the contractor goes bust and leaves the renovation works unfinished or cannot be contacted for 30 days. The firms are also required to use a CaseTrust Standard Renovation Contract in order to ensure cost accountability and transparency.

The contractor industry is one of the top 10 industries in which Case receives the most number of complaints.

For consumers who want peace of mind, I urge you to consider supporting businesses which have taken this additional step of being CaseTrust accredited and have committed themselves to fair trading practices, said Case President Lim Biow Chuan.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

More from PropertyGuru:
Profits galore for Boon Keng flat owners
APAC hotel investment volumes to hit $8.5bil
Balestier Point may go en bloc