Terms and Conditions
1. Background
1.1 This agreement sets out the terms and conditions of the Bridge the Build Promotion (Promotion). It is to be read in conjunction with the Build Contract described in the Promotion Details (Build Contract).
1.2 In this agreement: Promotion Details means the Bridge the Build Promotion Agreement Form, which forms part of this agreement; SPA means the agreement for sale and purchase of the Property described in the Promotion Details; Property means the property described in the Promotion Details, on which the dwelling is to be constructed under the Build Contract; Start Date, End Date and Promotion Period have the meanings given in clause 4; and Selections Deadline has the meaning given in clause 5.3.
2. Eligibility
2.1 To be eligible for the Promotion, the Client must:
a) have entered into the SPA to purchase the Property, and the SPA must have become unconditional, by 30 November 2026; and b) have entered into the Build Contract with the Builder to construct a residential dwelling on the Property, and the Build Contract must have become unconditional, by 30 November 2026.; and c) have entered into this agreement by 30 November 2026; and d) be borrowing from a registered lending institution to fund the acquisition of the Property and/or the construction of the dwelling under the Build Contract; and e) intend to occupy the completed dwelling as their principal place of residence. Where the Client enters into this agreement as trustee of a trust, at least one beneficiary of that trust must intend to occupy the completed dwelling as their principal place of residence; and f) be making regular rent or mortgage payments in respect of their current principal residence; and g) the Property must be located in the River Road Estate subdivision in Ngāruawāhia or the Overdale Estate subdivision in Putāruru, and must have an issued record of title as at the date of this agreement.
2.2 The Builder may require the Client to provide evidence that the criteria described in clause 2.1 have been met and continue to be met during the Promotion Period.
2.3 Eligibility shall be determined by the Builder from time-to-time and at its sole discretion, acting reasonably.
2.4 The Client shall only be eligible to redeem this Promotion once. The Client or any of the Client’s associated entities or persons shall not be entitled to redeem this Promotion following the first redemption.
2.5 This Promotion cannot be combined with any other Promotion or offer by the Builder or its associated entities. Other offers include (but are not limited to): Cashbacks, discounts, rebates, credits or concessions. By signing this document, the Client confirms that they will be ineligible for any other promotions unless otherwise agreed by the Builder in writing. The contract price under the Build Contract must be the Builder’s standard advertised price for the relevant house plan and specification at the time of contracting; any price reduction, credit, allowance or non-standard inclusion granted to the Client will make the Client ineligible for this Promotion.
2.6 Agreements that have been entered into prior to 07/09/2026 are ineligible for this Promotion unless otherwise agreed by the Builder in writing.
2.7 The Client warrants that all information and evidence provided to the Builder in connection with this Promotion is true, complete and not misleading.
3. The Promotion
3.1 Subject to the eligibility criteria in clause 2 being met throughout the Promotion Period, the Builder will pay the Client a sum equal to the lesser of:
a) $500 per week; or b) The Client’s Qualifying Weekly Household Cost.
Payments shall be made in accordance with clause 4.
3.2 The Qualifying Weekly Household Cost shall be: a) The weekly rent payment in respect of the Client’s current principal residence as stipulated in a residential tenancy agreement acceptable to the Builder in its sole discretion; or b) The weekly mortgage repayment in respect of the Client’s current principal residence to a registered lending institution, to be demonstrated with a loan statement acceptable to the Builder in its sole discretion.
3.3 The Qualifying Weekly Household Cost will be assessed by the Builder as at the Start Date, based on the evidence provided under clause 2.2, and will be recorded in the Promotion Details. The Qualifying Weekly Household Cost will not increase during the Promotion Period, including where the Client’s rent or mortgage repayments increase.
3.4 Payments under this Promotion are inclusive of GST (if any).
4. Promotion Period
4.1 Payments under clause 3.1 shall commence on the Start Date, being the later of:
a) The date the Deposit is paid in accordance with the Build Contract; or b) The date settlement of the SPA is completed.
4.2 Payments under clause 3.1 shall end on the End Date, being the earlier of:
a) The date the Builder provides possession of the Property to the Client under the Build Contract; or b) The date of Practical Completion under the Build Contract; or c) The Baseline End Date being the Start Date plus the Build Program recorded in the Promotion Details; or d) Where the Client has a change of circumstances where they become ineligible under clause 2.1, the date on which the change of circumstances occurs. The Client must notify the Builder within 5 working days of any change of circumstances affecting their eligibility under clause 2.1.
4.3 The Baseline End Date shall only be extended in accordance with clause 5 below.
4.4 The period from the Start Date to the End Date is the Promotion Period.
4.5 Payments will be made monthly in advance by direct credit to a single New Zealand bank account nominated by the Client.
4.6 The first payment will be made within 5 working days of the later of the Start Date and the date the Builder receives satisfactory evidence under clause 2.2. Subsequent payments are made on or about the 1st working day of each month.
4.7 The monthly payment will be equal to the weekly amount payable under clause 3.1, multiplied by the number of days of the relevant month falling within the Promotion Period, and divided by seven.
4.8 Where the Builder makes payment for a period that is beyond the End Date (Overpayment), the amount shall be repayable by the Client to the Builder, and the Builder shall be entitled at its sole discretion to treat the Overpayment as monies owed by the Client to the Builder under the Build Contract.
4.9 The Builder may withhold payments under this agreement while the Client is in default under the Build Contract. The Builder will not be required to make any payments in respect of the period while the Client remains in default.
5. Extension of the Baseline End Date
5.1 The Baseline End Date shall only be extended where the Build Program is extended as a result of any of the following:
a) factors within the Builder’s reasonable control. For the purposes of this clause, the Builder shall be deemed to have reasonable control over its subcontractors and consultants which it has engaged to complete the building work under the Build Contract; b) inclement weather; or c) delay in consenting by the local authority.
5.2 For avoidance of doubt, the Baseline End Date will not be extended if the build program is extended for reasons including (but not limited to):
a) variations, plan changes or specification changes requested by the Client; b) selections not confirmed by the Selections Deadline; c) changes to selections after they have been confirmed; d) late payment of the build deposit or any progress claim; e) delay in the Client’s finance, KiwiSaver withdrawal or lender documentation; f) Client-supplied items or Client-arranged trades; g) any request by the Client to pause, hold or slow the build.
5.3 The Client must confirm all selections required by the Builder within 25 working days of the date the deposit is paid under the Build Contract (Selections Deadline) or such other time as agreed with the Builder acting. If the Client does not, payments under this Promotion are suspended from the day after the Selections Deadline until all selections are confirmed. Payments suspended under this clause are not payable and will not be made up.
6. Repayment and Clawback
6.1 All payments made by the Builder under this Promotion will be immediately repayable by the Client to the Builder if: a) The Build Contract is cancelled by either party, provided that cancellation was not caused by the Builder’s breach or repudiation of the Build Contract; b) The Client is in default under the Build Contract and the default remains unremedied for a period of 20 working days; c) The Client breaches the conditions of this Promotion; d) The Client enters into a contract before or during the Promotion Period to sell, assign or otherwise dispose of the Property or the Client’s interest under the SPA or the Build Contract; e) The Client stops being the registered proprietor of the Property to which the Build Contract relates; or f) Any information, evidence or warranty provided by the Client in connection with this Promotion is false, misleading or incomplete.
6.2 Where a sum becomes repayable under this clause 6, the Builder shall be entitled to treat the sum repayable as monies owed by the Client to the Builder under the Build Contract. The Builder may also deduct any amount repayable under this clause 6 from any amount otherwise payable by the Builder to the Client. Amounts repayable under this clause 6 are payable without deduction, set off or counterclaim.
7. General
7.1 The Client has been given the opportunity to seek independent legal advice before entering into this agreement.
7.2 The Builder reserves the right to withdraw or vary this Promotion at any time and at its sole discretion prior to signing of this agreement.
7.3 This agreement supersedes all marketing material and representations (written or oral) in respect of the Promotion. The terms of this agreement prevail except as amended by the Builder and the Client in writing.
7.4 If any provision of this agreement is, or becomes unenforceable, illegal or invalid for any reason, this agreement will remain in full force apart from such provisions which will be deemed deleted.
7.5 Any disputes arising out of this agreement shall be subject to the dispute resolution process set out in the Build Contract.
7.6 The Builder’s maximum aggregate liability under or in connection with this agreement, including any payment obligation, is limited to $30,000, and the Builder is not liable for any indirect or consequential loss arising in connection with this Promotion.
7.7 This agreement is governed by New Zealand law, and the New Zealand courts have exclusive jurisdiction.
