NSW digitises Strata Building Bond scheme
The NSW Government has deployed a new platform built on software from Pegasystems to digitalise the Strata Building Bond and Inspection Scheme (SBBIS).
The new platform allows builders to submit the required bond — equal to two per cent of the building contract price — on all newly constructed multi-storey strata developments. The bond is mandated to cover any up-front costs of fixing defective work.
The previous paper-based system required applicants to fill out up to 35 manual forms, and relied on manual monitoring of timelines and due dates.
The new digital SBBIS system is based on the Pega Government Platform, and has been designed to improve the speed and efficiency of the entire building bond process.
The SBBIS provides full online transparency into all claims, reports, and inspections — including real-time updates and deadline reminders — for all involved parties.
The system is accompanied by the new SBBIS Inspect mobile app, which allows inspectors to log photos of defects on site rather than submitting a manual report afterwards.
“The SBBIS digitisation is a part of a broader transformation strategy currently underway as we seek to increase efficiencies, build trust and strengthen confidence in the building industry,” said Rose Webb, fair trading commissioner at NSW Customer Service.
“By doing so, we will provide better protection for new apartment owners against defective building work.”
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