This policy serves the benefit of the buyer (or assignee) or the project owner, covering potential construction defects and third-party damages for a duration of ten years from the date of completion. It is a mandatory policy for residential building operations involving so-called 'off-plan sales' (Law 210/2004).
It protects the buyer against damages deriving from the ruin of the building or serious construction defects, as provided for by Art. 1669 of the Civil Code.
