Regulations to the Builders Law have been gazetted, and will become effective when the law comes into force.
The Builders Regulations 2008 were published on 4 August in supplement no.7 to the Cayman Islands Gazette, no. 16.
The law was passed in the Legislative Assembly in March 2007, and assented to by the Acting Governor, the Hon. George McCarthy, in April 2007. It will come into force on a date set by Order of the Governor. Different dates may be appointed for the coming into force of various provisions of the law.
Among the regulations' provisions is that the Builders Board, which registers businesses and individuals, will register companies as separate from the persons applying for that registration.
The registration applicant has to provide a certificate of insurance showing public liability of $1 million each for these employees: the general contractor, building contractor, residential contractor, and civil contractor. For each sub-trade professional, the applicant must have $500,000 insurance liability.
Also to be submitted at application is evidence of provision for workers' compensation, in accordance with the Workmen's Compensation Law.
Before issuing a builder's licence, the board will conduct a thorough financial responsibility and professional reputation background check on the applicant. Among factors to be considered are evidence of bankruptcy within the last five years; an unsatisfied court judgement against the applicant within the last five years; and a lack of financial stability.
For further information contact: George Alleyne