Asset protection permits often require a security deposit. This will be refunded if assets are deemed to be in satisfactory condition after the building and construction works are complete. Find out how to get your refund.
When can I claim my refund?
Claim your refund as soon as building and construction works are complete and you are satisfied that all public assets are in their original condition.
What is the refund process?
- Inform us when you have completed your works by completing the asset protection final inspection and bond refund application form. Once completed please email to email@example.com
- We will inspect the site and the condition of the asset/s and advise if further remedial works are required:
- If further remedial works are required, you can undertake the works yourself, or if you fail to do so within an agreed timeframe, we will undertake the works and deduct the cost from your security deposit
- Once the assets are deemed to be in satisfactory condition, we will refund the security deposit (or remaining balance if used to fund remedial works). The refund will take approx. 3 weeks to return to the nominated account.
Why can’t I get my full security deposit refunded?
If we deem that public assets have not been repaired to an acceptable condition, we will not refund the security deposit until they are fixed.
If we are required to undertake remediation works for you, the cost of those works will be deducted from your security deposit and only the balance (if any) will be refunded. If the security deposit does not cover the full cost of the repairs, the property owner will be required to pay outstanding expenses.