Definition : Reconstruction cost

Amount of insurance coverage required to be subscribed by the syndicate of co-owners to provide for the reconstruction of the immovable in accordance with the standards, usage and best practices in force at the time of reconstruction. This amount includes, without limitation the fees paid out to the professionals involved, retrofitting, various permits and taxes, etc.

 WARNING! The establishment of the "reconstruction cost" must be evaluated at least every five years by a Chartered Appraiser.