Refund Policy

  • If Buyer delayed or refrained to fulfill the remaining amount of the price, together with the maintenance deposit and any other financial obligations owed Developer as stated in annexure 1 herein, within the dates specified thereto for any reason whatsoever, Developer is entitled to collect a delay fine amounting 1.5 % monthly from each due installment.

  • This delay fine shall be calculated from the payment due date.

  • Buyer acknowledges that he accepts this fine and is abided to pay thereof as an agreed indemnification.

  • Should the buyer continued in failure to pay thereof for more than three months from the installment due date, this contract shall be deemed automatically terminated without any requirement for warning, notice or judicial verdict, thus the sale, subject matter of the contract, shall be deemed invalid.

  • In such case, the developer shall dispose of the sold unit by all duly established means for the owner.

  • The developer shall, after disposing of the unit by selling the said unit, he shall return to the buyer the paid amounts paid by the latest and deduct 10 °A of the unit total price against administrative fees and agreed indemnification which does not subject to the control of judge without any objection from the buyer.

  • It is agreed that acceptance of the developer the delayed payment of the buyer to some installments or any part thereof shall not refrain the developer to insist on the aforementioned penalties herein, including terminating contracts.

  • Failure of developer to terminate the contract or to receive the delay fine of any installment shall not be deemed as waiver of his right for any of the other installments.

  • In all cases, the delay term shall be added to the delivery date.

  • If the buyer delayed in payment the due installments after the delivery of the unit, the provisions of this clause shall be applied thereto.

  • In addition, he acknowledges to return the ownership of the sold unit amicably, and to deliver thereof to the buyer within one month from the date of being notified therewith, after the unit becomes under the buyer’s custody after the termination of the contract without any legal evidence thereon.

  • The buyer shall, in this case, pay the developer 1 % monthly from the total price of the unit, in return of usufruct for each month within which the unit was under the buyer’s custody.

  • This indemnification shall be deemed final, and no judicial authority has a control thereon.

  • Developer is entitled to deduct these amounts from the due amounts, which the developer shall return to the buyer for terminating the contract, without any requirement to take any legal procedure.

  • If the client requests a refund of the reservation payment cancellation of reservation or not to proceed with signing the Contract of sales within 30 days from the reservation date, 5% of the total value of the Unit shall be deducted as administrative expenses from the reservation payment. The outstanding balance of the reservation payment shall be refunded to the Client within thirty days of a written notification of cancellation by the client to the company.

  • Kindly note in case of hold units, Refund amount should be paid within a week without any deduction except if the client pays in visa method, deduction should be 2% of the payment amount.

  • In case refund for credit card payment , the amount will be refunded to the same credit card that used for this payment.