We ask that our clients take time to read and understand this document clearly.
Most guarantees issued for waterproofing do not provide adequate if any cover for your protection in the event of a failure in waterproofing.
Company guarantees rely on the company continuing to trade and to maintain adequate insurance cover. Most do not have relevant insurance even the bigger companies cease to trade.
Manufacturer’s guarantees rely on proving defects in the materials and this is rarely if ever possible to prove. Manufacturers are just as likely to cease trading as contractors.

LSE offer company guarantees and they are underwritten by a third party insured guarantee so if the waterproofing installed by LSE should fail for any reason whatsoever it would be covered even in the unlikely event of LSE ceasing to trade. Our guarantees are accepted by NHBC AND ZURICH.

With the Insurance Mediation Directive (IMD) (in force from January 14th 2005 and implemented to stop people and companies misleading the public), those offering true insurance to the public must comply with the Directive and this has implications on how LSE Building Preservation Ltd inform, deal with and protect their clients.

So, what are the benefits of using a company with an Appointed Representative Status?
Of the 2,500 purported specialist remedial companies in the UK, LSE Building Preservation is one of only 20 Appointed Representatives in the whole of the UK. LSE is, as stated, headed by an FSA Approved Person.
To meet the criteria for this, LSE Building Preservation’s accounts for the last three years have been examined and approved by an independent accountant employed by the GPI.
Ian MacLennan of LSE Building Preservation, together with its secretary and administration staff dealing with insurance, have been vetted by the FSA for any criminal activity and were found spotless. The company itself has also been vetted by the FSA for any improper activity and again given a clean bill of health.

LSE are one of the few companies who pay for Professional Indemnity for waterproofing. We are therefore insured for advice given and accept design liability. LSE are one of the very few companies that pay for products insurance so that in the event of a failure in our work for any reason we are able to rectify the work as necessary. LSE have never had to claim from this insurance.

LSE Building Preservation Ltd offer a maintenance contract that involves checking and servicing the system annually, including proving the efficacy of the channels, hosing them out if required, cleaning out the sump/s and testing the pumps where present. Subject to this, the initial ten year guarantee will run on as long as the maintenance contract does, so in theory it is not limited in time. The maintenance contract is charged annually from the start of year two, with the basic charge for this as shown in our quotation, reviewed five yearly. It covers the on-site service and a ‘service pack’, including replacement of important seals and valves, along with alarm batteries, all within the price.

Extra charges will occur in time. For example, pumps and main batteries are covered under the manufacturer’s guarantee for one year then replaced as and when necessary at cost, plus 25% mark up. This must include main ‘battery backup’ batteries every three years where present, to ensure that they remain in good working order. Current prices (for guidance) are available on request. A maintenance contract must be taken out to qualify for our guarantee and to qualify for insurance as the channels, sump/pumps, and batteries must be serviced to ensure that the system performs the function for which it is designed.

Work undertaken by LSE Building Preservation is covered by written guarantees for ten years subject to the maintenance contract above. LSE Building Preservation maintains Professional Indemnity Insurance covering the advice and design specification given on the property together with Product Liability Insurance covering the work of ‘product’ installed – including workmanship. This basically protects both the client and LSE Building Preservation in the event of a claim. What the public do not realize is that 98% of the other 2,500 or so purported specialist remedial companies in the UK keep them in ignorance of the fact that in the event of a claim when not insured, the company’s guarantees are only as good as their often inadequate net assets.

Whilst LSE Building Preservation continues to trade you have the protection of our Professional Indemnity and Product Liability insurances, but how can you protect yourself in the unlikely event that LSE Building Preservation ceases to trade? To cover even this remote possibility we offer Guarantee Protection Insurance (GPI) on the system. This is a one-off payment for a period of ten years covering the installation, matching the initial guarantee period and protecting the client in the event of LSE Building Preservation ceasing to trade for any reason. It is a valuable document, becoming part of the deed package. In the event of a transfer of lease or property sale, envisaged that the insurance can be extended at the end of the initial ten year period at the going rate at that time, subject to the system being in good working order and under an ongoing maintenance contract.

Because of the above, LSE Building Preservation believes it offers the best protection available to its clients both while it continues to trade and should it ever cease to trade.

With Manufacturer guarantee schemes, a guarantee fee is frequently taken into the profit and loss account and seldom held as an asset by the Manufacturer.
Their statement that it is ‘insurance backed’, usually means that it may include ongoing calamity insurance to protect against large claims. The GPI scheme is not vulnerable to a Manufacturer ceasing to trade, an occurrence that has happened may times in the past, leaving their so called backup ‘insurance’ guarantees worthless. Companies that have ceased to trade include Wykamol;
The Mutual Guarantee Company (Wykamol), Catamance, Burma Solignum, Tomas Ness etc. GPI, being FSA regulated, ensures that sufficient funds are ring fenced to meet all expected claims from the insurances written for the next 20 years.

LSE is an Appointed Representative (AR) of GPI.

The proposed works for cavity membrane installation below ground level will be covered by our 10-year written Guarantee when installed to our specification.

We have also allowed for the Guarantee Protection Insurance Ltd policy for the cavity membrane installation which will be applied at a one payment only premium which is calculated per job, which covers the installation for a period of 10 years, so that in the unlikely event that LSE Building Preservation should cease trading for any reason the work will still be guaranteed.
Genuine insurance backed guarantees can only be offered by qualified companies who are full members of the Structural Waterproofing Group and have been assessed at the British School of Waterproofing.
LSE Building Preservation also pays for full product insurance (unlike most other companies) which guarantees that in the event of a failure of our work for any reason funds would be available to rectify any problems.

The Company issues Certificates of Guarantee on full payment of the account, including any retention.

LSE Building Preservation Limited is an Appointed Representative of Guarantee Protection Insurance Limited which is authorised and regulated by the Financial Services Authority.
Demands and Needs Statement relating to the  offered  Insurance
This product is the only insurance product of its type currently available and meets the demands and needs of those who wish to ensure that the guarantee provided by a contractor who has treated wood boring beetle, dry rot, wet rot, rising damp, or has provided replacement wall ties, lateral restraints or structural waterproofing is fully secured.
Should you have any queries on the above or any complaint against the Appointed Representative regarding the Insurance, please contact the GPI Limited at:
27 London Road, High Wycombe, Bucks. HP11 1BW
Tel: 01494 447049
Fax: 01494 465194
Email: Shirley@gptprotection.co.uk