Home construction & renovation

10 tips to avoid financial losses

• Ask for several quotes
• Go through testimonials provided by other customers
• Ask the party submitting a quote for references
• Check the credit standing of the party submitting a quote before you sign the contract
• Review the contract carefully
• Clarify liability issues before engaging the contractor
• Agree on a liability retainer to protect against the risk of defects
• Pay in instalments upon completion of individual works or construction stages
• Put anything that has been discussed in writing
• Engage a fiduciary or obtain a bank guarantee

Insolvencies in the building industry

Robust today – Insolvent tomorrow

Even after an enterprise has been successfully operating for over 30 years and is considered a healthy domestic business across Austria – it can fall into financial straits from one day to the next. KSV1870 supports private individuals by providing information on the financial reliability of businesses.

Simply start a search and access a credit report. Use your credit card, PayPal or instant transfer to pay the fee. Prices are tiered depending on the information volume provided in the access report.

You will find an overview of all current insolvencies here:

Current Insolvencies