Upon execution of the Sale and Purchase Agreement, the initial down payment has to be paid to us.
Late Payment Charges
Refer to Sales and Purchase Agreement clauses on Late Payment Charges.
Avoidance of Late Payment Charge (LPC)
If you want to avoid the imposition of LPC, it is recommended that you adhere to the following:-
- Apply for you loan immediately. We will be pleased to assist you in any way as we can.
- Liaise with EPF to ensure prompt release of withdrawal sum.
- Settle the difference between the loan amount and purchase price immediately on loan approval or on receipt of invoice from us.
- Monitor closely the loan processing with your bank/financial institution to ensure that the loan documents are finalized within the grace period.
- Liaise actively with your bank/financial institution and solicitor on receipt of the invoice from us to ensure payment is made within the stipulated period of thirty (30) working days.
Progress Billing is the periodical invoicing by us to you and when the relevant construction stage in the third schedule of the Sale and Purchase Agreement is completed as certified by the architect.
A period of thirty (30) working days from the date of receipt of our invoice is given for payment of the invoice.