Definition : Guarantee plan for new residential buildings - Administrator of the Compulsory guarantee plan

A legal person authorized by the Régie du bâtiment du Québec (RBQ)” (Québec Building Board) to administer a guarantee plan. It guarantees the execution of the legal and contractual obligations of a contractor resulting from a contract signed with a beneficiary. It is governed by the Regulation respecting the guaranty plan for new residential building. Since January 1st, 2015, only one non-profit agency (“OSBL”) acts as the administrator of the Guarantee plan. It is the “Garantie de construction résidentielle (GCR)” (Residential Building Guarantee).

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The scope of the compulsory guarantee plan The Regulation respecting the guarantee plan for new residential buildings came into force in 1999. It is administered by the “Régie du Bâtiment du Québec” (Quebec Construction Board) (QCB). Its compulsory nature distinguishes it from the optional guarantee plans offered in the market. It applies to buildings that are entirely new, such as:
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Building a condominium requires major investments on the part of a developer. This is the reason why a down payment will be required upon signing the preliminary contract for the desired condo unit. The Civil Code of Quebec provides that “any amount paid on the occasion of a promise of sale is presumed to be a deposit on account of the price, unless otherwise stipulated in the contract”.This down payment, which represents the first installment to the seller, varies according to the unit’s total price. Bill 16 introduced provisions to protect down payments made by residential buyers to developers and builders of divided condominiums.  
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