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The monthly installment payments is paid every month.
All funds received are immediately credited to the
Buyers account with the Developer, and the Developer
confirms to the Buyer each installment payment received. Developer
also emails to the Buyers their Account statement
every 3 months.
The buyer may send the payment by cashiers check, By online Bill
pay, money
order, Western Union, Bank transfers, Wiring funds,
credit card etc. Any means, which is convenient
and more economical to the buyer.
The Developer can recommend the most reliable and
economical way of sending the payments, and when the
buyer
follows the Developer's instructions, then the
Developer will bear the
transaction charges towards sending the funds. The buyer has to bear all exchange rate differences
as may be applicable. It is the
responsibility of the buyer to send to the developer all the installments on
time.
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ON-TIME Payments:
Please
make sure all the monthly installments are
received on time, (on or by the last day of
every month). There is a total grace period of 15 days only on the
monthly installments. If any payment is late, beyond
the 15 days of grace period, it will attract
substantial late fees (equal to 20% of the payment
late for each month). All payments will first be applied towards late fees, if any, and
then towards the installment balance. A Part payment of an installment is still
subject to the full late fees.
A word of Caution: Buyers using the
installment payments
option,
before making reservations, please check that they
will be able to meet the monthly installment
payments. There is no refund for Cancellation
of the Purchase, once the installment payments
start. The Buyers will loose their property
resulting in substantial losses, if they default
on their monthly installment payments, before completing all the installments.
All
payments are to be made in the name of the
developer, East West
Developments. If
in default of payments, or if the payments are late by more than 6
months, then the reservations are automatically cancelled. Buyers, can no longer sell
their ownership if it is in default or cancelled.There is NO
refund on cancelled units, and all the buyers
payments made to that date will be forfeited.
In case of more than 6 months, condoning of the
delay will be at the sole discretion of the
developer. In case such delay is condoned the investor will have to
pay double the late fees on each late installment
as penalty, and will have to bring current all his
payments.
The Buyer can upgrade to a higher Payment Plan within 90 days of his first
payment. After 90 days, Midway switch or change to
another Payment Plan Option is not allowed.
For Resales, please check the Resale
Pool Page.
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