Terms And Conditions - Onward Developers Limited

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Terms And Conditions

About O D L
Application for allotment of apartments should be made on the prescribed application form duly signed by the applicant along with the Earnest money. The Company has the right to accept or reject any application without assigning any reason thereto.
On acceptance of an application, the company will issue an allotment letter to the applicant on the receipt of which the applicant/allottee shall start making payment as per the schedule of payment in this Brochure Allotment of apartments are made on first come first served basis.
Payment of earnest money, installments, car park costs, additional works and other charges shall be made by Bank Draft of Pay Order against which respective receipts will be issued. Bangladeshis residing abroad may remit payments in foreign exchange by TT of DD.
Payment of installments and all other charges are to be made on due dates. The company may issue reminders to the allottee but, notwithstanding the issue of reminders, the allottee must adhere the schedule of payment to ensure timely completion of construction.
Delay in payments beyond the due date will make the allottee liable to pay a delay charge of 3% per 30 days on the amount of payment delayed. If the payment is delayed beyond 60 days, the company shall have the right to cancel the allotment without notice to the allottee. In such an event the amount paid by the allottee will be refunded after deducting the Earnest Money.
Connection fees/charges, security deposits and other incidental expenses relating to gas, water, sewerage and electric connections are not included in the price of apartments. These payments will be made by the company directly to the authorities concerned, on the allottee's accounts. The allottee will be billed proportionately on actual costs basis.
Limited changes in the specifications, design and/or layout of the apartment and other facilities may be made by the company in larger overall interest of due to unavoidable reason.
The possession of each apartment shall be duly handed over to the allottee on completion and on full payment of installments and other charges. Till then the possession will rest with the company.
The allottee will pay stamps duties, registration fees, value added tax, documentation charges and other miscellaneous taxes and expenses to be incurred in connection with the deed of conveyance (Sales Deed). Only the actual sums shall be charged.
Upon registrations, the flat owner irrespective of the floor becomes the proportionate owner of the land on which the building is to be constructed.
Should the purchaser want to avail loan from any finical institutions the company will do all that is possible to help secure the loan. However the final decision regarding the grant of loan rests with the financial institution and with the compliance. All the necessary papers for grant the loan must be signed by the purchaser and he/she must attend the Registration office for the registration the mortgage deed. Irrespective of the loan being sanctioned or not, the client will be liable to pay as per schedule installments.
After talking over of apartment or the project, the allottee(s) must consult the company prior to undertaking any structural or layout changes within the apartment complex. Failure to do so will be at the sole risk of the allottee.
The completion period of the construction of the project can be affected by unavoidable circumstances beyond the control of the company, like force majeure, natural calamities, and political disturbance strikes and changes the fiscal policy of the state etc.

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