I have never seen this material and know nothing about it so there is little or actually no experience behind the following statement.

It seems to me that it was installed backwards. I would think that you would want the groved side facing the foundation to create a channel for any water to run down and into the perimeter drainage system. The channels, as this is installed, are plugged with dirt and mulch so I don't see how it would be any better than a water proof sheeting.

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