Progressive Payment Scheme
Order of Payment | Progress Payment | Percentage of Purchase Price |
---|---|---|
1st Payment | On obtaining Option to Purcase (Booking Fee). | 5% |
Upon signing of the Sale & Purchase Agreement or within Eight (8) weeks from the date of Option to Purchase, whichever is later. | 15% | |
The following progress payments are to be paid within Fourteen (14) days of the service of Notices from the Vendor. | ||
2nd Payment | On Completion of Foundation Works of the Unit. | 10% |
3nd Payment | On Completion of Reinforced Concrete Framework of the Unit. | 10% |
4nd Payment | On Completion of Brick Walls of the Unit. | 5% |
5nd Payment | On Completion of Ceiling of the Unit. | 5% |
6nd Payment | On Completion of Door and Windows Frames are in position, Electrical Wirings (without fittings), Internal Plastering and Plumbing of the Unit. | 5% |
7nd Payment | On Completion of Car Park, Roads and Drains serving the Housing Project. | 5% |
8nd Payment | On Receipt of Notice to Take Vacant Possession and copy of Temporary Occupation Permit (T.O.P) or Certificate of Statutory Completion (C.S.C) of the Unit. | 25% |
9nd Payment |
Either:
Or:
|
15% |