How does the bank manage the property warranty fund?

Warranty money refers to the funds deposited by the construction unit to the local property administrative department in accordance with the prescribed proportion as a guarantee for the property maintenance expenses during the warranty period. Generally speaking, developers must pay in place before doing large real estate licenses, otherwise it will affect the handling of real estate licenses.

Failing to build supporting facilities in accordance with the approved construction project design scheme as determined by the competent department of urban and rural planning. Need to use the property warranty gold, by the relevant owners or owners' committee to apply, after verification by the district property maintenance fund management center, organized by the owners' committee maintenance.