All residential builders in the Northern Territory must apply for an annual level of cover with the Master Builders Fidelity Fund before they can build houses, units or extensions for private clients.  This does not apply to commercial buildings, transportables or government contracts.

Fidelity Fund Certificates

It is the responsibility of the builder to obtain a Fidelity Fund Certificate for all homes, units or extensions worth more than $12,000.

A copy of the Certificate must be supplied to the home owner.

To get a fidelity certificate, you must

• satisfy the Master Builders Fidelity Fund of your eligibility
• complete an assessment form and provide financial statements and details about your business structure and construction history, so an independent assessor can determine the value of work you can take on at any one time
• the assessment is done by an independent chartered accountant in the ACT and is free
• the turn around time is 7-10 working days
• you will be advised of your available limit
• you can apply for a re-assessment at any time if you think your cap is too low
• as you enter into a contract to build, you must obtain a Fidelity Fund Certificate for that work
• the Fidelity Fund will monitor your capacity by referring to the value of the contract
• the premium for the Fidelity Certificate is payable when you obtain the certificate
• a copy must be given to the owner (before you start work) and the certifier (who cannot issue a building permit until they have a copy)
• you should keep the original certificate
• if the contract later varies by more than 5% (up or down), you must apply for a varied fidelity certificate.

There is detailed information on the scheme on the Northern Territory Government’s Building Advisory Services site at www.nt.gov.au/rbi

How to apply

Application by Owner Builder (Download PDF)

Residential Building Cover New Application Form (Download PDF)

Fidelity Fund Contribution Rates (Download PDF)

Process Sheet (Download PDF)

See stamp duty media release