PAYMENT CONFIRMATION AND REFUND POLICY
CONFIRMATION OF PAYMENT
The customer will receive the confirmation of their payments via email within 10 days.
- Refunds will be done only through the original mode of payment.
- Customer can cancel their order within 7 days of payment of booking amount only.
- Refunds will be made back to the payment solution used initially by the customer.
- Transferred of refund will be completed up to 45 days.
DEFAULT AND TERMINATION
You as Purchaser;
- The Purchaser acknowledges that the construction of the Project and the delivery to the Purchaser of its unit is dependent on the Purchaser making timely payments when due. In this regard, the Purchaser acknowledges and agrees that each instance of default or delay in making payment shall entitle the Seller to an equivalent extension of time plus an additional two (2) months.
- The Purchaser further acknowledges that any delay in payment may result in a delay in the construction of the Project and the Purchaser indemnifies and holds the Seller harmless against any loss, cost or consequence that ensues from other third party purchasers as a result of the Purchasers delay or default in making payment.
- If the Purchaser fails to timely remit any payment due to the Seller and/or if such breach is not cured within seven (7) calendar days of the sending of a written notice from the Seller, the Seller shall be entitled to inform the Land Department of such breach. The law states that the Land Department shall, on behalf of the Seller, provide written notice of such breach to the Purchaser, either through registered mail or electronic mail. If such breach is not cured within thirty (30) days of the sending of such notice, the Seller shall be entitled to terminate this Agreement without any further notice. In case of such termination by the Seller and without prejudice to the Seller’s other rights under this Agreement of all Previous Payments shall be absolutely forfeited or deduction as per RERA (Real Estate Regulatory Agency, Dubai) prescribed law to the Seller as liquidated damages. The Purchaser hereby undertakes that such forfeiture constitute a genuine pre-estimate of damages suffered by the Seller as a result of such breach by the Purchaser, and the Purchaser further acknowledges and agrees that such forfeiture in the foregoing circumstances is fair and equitable, and is not harsh or unconscionable; and (ii) the Seller shall be entitled to resell or take any other action with respect to the Unit and the Purchaser agrees that it releases and discharges the Seller against any and all claims, losses, costs, taxes, levies, expenses, damages and/or liabilities incurred, suffered or that may be incurred or suffered by the Purchaser as a result of such termination and forfeiture.
- In case of the early termination by any mutual consent:
- The Purchaser agrees and acknowledges that up to 30% of Total Purchase Price will be forfeited by the Seller and Purchaser has/have no rights to claim this amount in the future ever.
- The Purchaser may request for refund of his/her/their amount paid against after 30% forfeited amount of the Total Purchase Price such refund will be subjected to the RERA/Dubai Land Department and concerned Authority(ies) approvals and their policy(ies).
- The Seller shall not be liable for any failure or delay to perform its obligations under this Agreement due to causes beyond its reasonable control including but not limited to acts of war, terrorism, flood, strike, earthquake, act of foreign enemies, hostilities, labor disputes including but not limited to strike, lockout or boycott; interruptions of failure of utility service including but not limited to electric power, gas, water or telephone service; breach of contract by any Seller’s bank, contractor or subcontractor, and/or any unforeseeable event that impacts the development of the Property (whether it be related to the availability of resources, labour, physical access to the site, etc), accidents, riots and decisions of government provided the Seller. The Anticipated Completion Date shall be extended for a period equal to that during which such circumstances exist.
- Payment by the Purchaser of any part of the Purchase Price or any other amount due under this agreement when due shall not be excused or delayed due to an event of force majeure.
- Upon the occurrence of an event of force majeure, both Parties shall take all reasonable measures to minimize the effect of such event and use their best endeavors to continue to perform their obligations under this Agreement so far as reasonably practicable. If the obligations have not been complied with within six (6) months from the occurrence of the event of force majeure, the Seller is entitled (but not obligated) to terminate this agreement by notifying the Purchaser of the same after which the Seller shall refund such portion of the amounts paid by the Purchaser that may be available for refund, and this Agreement shall thereafter cease to have any effect and shall become null and void and neither of the parties shall have any further claims against the other.