STRATA BUILDING BOND AND INSPECTIONS SCHEME

Under the Strata Building Bond and Inspections Scheme (SBBIS), developers of new residential strata buildings (4 storeys and higher), are required to pay a building bond to NSW Fair Trading equal to 2% of the construction contract price. The SBBIS applies to building contracts signed after the 1st January 2018.

SDSS are an authorised inspector for the Australian Institute of Quantity Surveyors under the SBBIS.

The process for inspections is as follows: