Legal Advice

Deed of Covenant & Assurance (QBCC)

Sunshine Coast | Brisbane | Queensland | Australia wide

Queensland Legal offers a critical service for QBCC guarantors needing a Deed of Covenant & Assurance, facilitating compliance with Queensland Building and Construction Commission requirements. We provide online legal advice and electronic signing options, ensuring a seamless process for directors guaranteeing for a licensee company. This service, essential for meeting QBCC’s minimum financial requirements is available Queensland-wide, reflecting modern legislative adaptations for remote document handling and electronic signatures.
Sunshine Coast Lawyers Queensland Legal

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QBCC Deed of Covenant and Assurance Legal Advice

Also known as a ‘Schedule B – Statement by Covenantor’s Solicitor‘ or simply a legal advice certificate, they provide certification that a person has obtained legal advice about the risks and obligations associated with being a covenantor to a company licensed by the Queensland Building and Construction Commission (QBCC).

A Deed of Covenant & Assurance is required by the QBCC when a licensee company is unable meet the minimum financial requirements to obtain a QBCC licence.  Usually, the Deed is given by the licensee company’s Director (or multiple Directors) and is, in essence, to provide financial backing to the licensee company up to a ‘defined amount’ which is determined by certain criteria set out by the QBCC.

Thankfully, Queensland has now passed legislation that allows for Deeds to be signed electronically.  Further, legislation was passed allowing a person to witness a signature remotely.  So, we can now offer this service to QBCC guarantors Queensland wide. 

The process of getting Legal Advice on Deed of Covenant and Assurance (QBCC)...

1. Get your Documents

Your accountant will have already prepared the financial documents required to support your application to the QBCC and have determined the ‘defined amount’ needed to meet the minimum financial requirements. Your accountant will also prepare, for you as the covenantor, a personal statement of financial position. Once you have all those documents you need to read them yourself carefully, and ensure they are correct. They should consist of;

1. A Minimum Financial Requirements Report, or MFR (this is prepared by your Accountant and we have no involvement in its preparation, nor do we review or check the document is correct, and complies with the QBCC requirements).

2. A Covenantor's Statement of Financial Position (this is prepared by your Accountant and we have no involvement in its preparation, nor do we review or check the document is correct, and complies with the QBCC requirements).

3. A draft Deed of Covenant & Assurance (this is a proforma published by the QBCC), which needs completing with your details and the 'defined amount' calculated by your Accountant. If you do not have one, it can be downloaded from the QBCC website here.

TIP: If you do not have an Accountant that prepares MFR's or Statements of Financial Position for the purposes or compliance with the QBCC, we can refer you to some if you get in touch.

2. Contact Us

Contact us using our Online Booking Request. We will arrange an appointment which normally takes around 30 minutes and must be attended by you personally as the guarantor.

Our preference is to issue an electronic Verification of Identity (VOI) to you and then arrange a meeting via videoconference (zoom).

You do not require any special software/program, a computer, or smartphone (with camera) will suffice, so long as you have internet acces.

3. We provide your Statement

After receiving our legal advice we’ll provide you with a signed ‘Statement by Covenantor’s Solicitor' and also witness you signing the Deed.

If we meet physically, then we will provide an 'original' document with 'wet' signatures, for you to issue to your accountant or the QBCC.

If we meet virtually online, you will receive an email immediately following our advice session, via our provider Adobe Sign for electronic signing first, and we will then co-sign such, before you then receive your fully signed copy by email.

Fixed Cost QBCC Deed of Covenant and Assurance

So What does it all Cost?

The Queensland Building & Construction Commission is the regulatory body that deals with and holds the Deed of Covenant & Assurance.

You can find more information on the Deed of Covenant & Assurance requirements on the QBCC website

We offer a fixed price service for the provision of the legal advice, completing the Solicitor’s statement, and witnessing the deed being signed by you.

  • A Single Covenantor $350.00

    A fixed fee, inclusive of G.S.T for reviewing your documentation, providing the necessary legal advice to you, and providing the completed deed.

  • Two Covenantors $550.00

    A fixed fee, inclusive of G.S.T for reviewing your documentation, providing the necessary legal advice to each covenantor separately, and providing the completed deed.

Why Choose Queensland Legal

Queensland Legal is proudly operated by Michael Turner, the Principal Lawyer and Solicitor.

My ambition extends beyond mere legal representation; I am committed to fostering enduring partnerships with my clients, built on a foundation of trust and mutual respect.

It is my objective to continually deliver exceptional value to your business, ensuring prosperity and growth for years to come.

Let Queensland Legal be your partner in navigating the complexities of the legal landscape, securing a successful future for your business.

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