News & Updates

Protect your deposit with DG Assure

July 2024

When you've worked hard to save money for your home to be retrofitted with double glazing, you want to be sure your deposit will be kept safe.

When you've worked hard to save money for your home to be retrofitted with double glazing, you want to be sure your deposit will be kept safe.

Ensuring your money stays safe until your project begins

A recent article in Stuff (click here to read) has highlighted a growing concern: businesses misusing homeowners’ deposits for general expenses and then going bankrupt before starting any work. Fraud charges have been brought against a Palmerston North window installation company director accused of misappropriating hundreds of thousands of dollars from customers. The significance of trust and security in your glazing investments cannot be overstated.

That’s where the DG Assure escrow service steps in, providing homeowners with peace of mind.  With DG Assure, you can trust that your hard-earned money is reserved exclusively for your project.

The Deposit Dilemma

The recent economic turbulence has underscored the need for strong financial safeguards for small businesses. COVID-19 restrictions, rising costs, supply chain issues, and increasing regulatory demands have strained businesses globally. Small businesses, in particular, have struggled to balance higher operational costs and wage demands.

In such an environment, some businesses may misuse customer deposits to manage cash flow, a practice laden with risks. Optimistic market expectations may not always materialize, leaving businesses unable to meet their financial obligations, leading to broken trust and legal issues. This scenario highlights the critical importance of escrow services in safeguarding both businesses and their customers.

Understanding DG Assure

DG Assure is an independently administered escrow service, governed by New Zealand legislation, designed to ensure careful management of customer funds. When you select The Double Glazing Company for your Retrofit Double Glazing or Replacement Windows and Doors project, your payments are held in a secure escrow account until production begins on your windows.

Once your windows are ready for production, you’ll receive an email requesting your approval to release the deposit funds to The Double Glazing Company. Upon your approval, independent administrators RetroGlaze Network LP and Stretton Accountants will conduct necessary checks before releasing the funds, ensuring your money is only used when your project is underway.

Benefits of Using DG Assure

Financial Security

DG Assure secures your investment by holding your deposit in a BNZ trust account, managed by RetroGlaze Network LP. The release of your deposit requires approvals from you, DG Assure administrators, and Stretton Accountants, ensuring your funds are not released until required for your project.

Trust and Transparency

You can trust that The Double Glazing Company values your investment. Your deposit is held in an independent trust and released only when production begins and you have approved the transaction. Your personal project portal allows you to monitor project progress and access documents and transactions at any time ensuring you have complete transparency.

Peace of Mind

With DG Assure, you can trust that your money is held for your project and your project alone. Rest assured knowing your money is secure until needed.

 

 

Ensure your hard-earned money is protected with DG Assure. Talk to a The Double Glazing Company expert to learn more about DG Assure and secure your investment today.

Would you like to understand the options available for your home?  Get advice to help you choose the right solution for your home.