As security for the obligation you have taken on as contractor to supply goods and services up to the point at which the object is handed over or accepted.
Since 2003, a legal completion regulation applies. According to this regulation, the buyer of a home is entitled to deposit the last 5% of the purchase price with a civil-law notary. This means that the contractor has to wait for his money until all the completion points have been resolved to satisfaction. As an alternative, the contractor may issue the buyer a 5% Completion bond so that he immediately has access to the liquidities.
- You will receive the last amount of the contract sum directly on your account