48Amount of cover and related matters

48 Amount of cover and related matters The scheme's trust deed must require a certificate to: (a) provide a minimum amount of cover of $200 000 in total for the guaranteed work; and (b) provide that if the total contracted price for the guaranteed work is varied by an increase or decrease of more than 5%, the builder must apply to the trustees for a reassessment of the amount of cover; and (c) limit the cover for non-completion of the guaranteed work to an amount not less than 20% of the total contracted price for the work; and (d) provide for cover for defective guaranteed work up to the maximum amount payable under the certificate less any amount that may have been paid for non-completion of the guaranteed work.