Under the guarantee, Qanvast offers protection of up to $50,000 for renovation contracts that are breached, or when the ID company turns insolvent.
Qanvast, a local app- and web-based home renovation platform that links homeowners to interior designers, has launched the Qanvast Guarantee.
The guarantee promises to give customers only recommendations that have proven trustworthy, and makes Qanvast the first such platform here to offer protection from service providers guilty of breach of contract, or who have become insolvent or uncontactable.
It is exclusive to homeowners who hire any of Qanvast’s recommended interior designers: once they have requested a quote, the guarantee covers 50 percent of the contract value or up to $50,000, whichever is lower, to compensate for any losses.
While protection schemes for home renovation are not new in Singapore, coverage of up to $50,000 is rare. In a typical progressive payment scheme, homeowners are required to fork out up to 50 percent of their contract value prior to the commencement of any renovation work.
The Qanvast Guarantee is meant to safeguard such prepayments. To opt-in for the guarantee, homeowners are required to submit the relevant invoices matching their requests for quotes within seven days. What makes the guarantee even more uncommon is that it is offered free of charge.
More information on the guarantee can be found on the Qanvast website.
Cheryl Marie Tay, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories, email firstname.lastname@example.org