1. Applicant for allotment of apartment should be made on the prescribed application form duly signed by the applicant along with the booking money.
2. On acceptance of an application, Jumairah Holdings Ltd. will issue an allotment agreement with specific terms and conditions to the applicant. The applicant/allottee(s) shall then make payments as per the schedule o payment.
3. All payment of booking money, installment additional works and other charges shall be made by the bankdraft or pay order account payee cheque in favor of Jumairah Holdings Ltd. for which respective receipts will be issued. Bangladeshi residing abroad may remit payments by TT or DD.
4. Payments of installments, car parking costs and all other charges are to be made on due dates, Jumairah Holdings Ltd. may issue reminder to the allottee must adhers to the schedule of payment to ensure timely completion of construction.
5. Delay in paymentbeyond the due date will make the allottee liable to pay a delay charge on day bases as per deed of agreement. If the payments are delayed beyond 90 days. Jumairah Holdings Ltd. shall have the right to cancel the allotment. In such and incident the amount paid by the allottee will be refunded after deduction a certain amount(8% of total amount) and the refund will be given after resale of the apartment.
6. Jumairah Holdings Ltd. and the allottee will be required to execute an agreement for safeguardingthe interest of the allottee as well as Jumairah Holdings Ltd.
7. Jumairah Holdings Ltd. may make limited changes in the specification, design, and/or layout of the apartments and other facilities. in overall interests and due to unavoidable reasons.
8. Jumairah Holdings Ltd. may cancel an allotment on non-payment of installment in disregard of reminders and after final intimation to allottee by registered post at the address given at the application form.
9. The possessions of each apartment shall be duly handed over the allotment(s) on completion and on full payments of installments, other charges and dues and till then the possession will rest with Jumairah Holdings Ltd.
10. The allotment(s) will pay stump duties, registration fee, documentation charges, VAT, any taxes & expenses likely to be incurred in connection with the deed of agreement, allotment, registration & transfer etc. Only the actual sums shall be charged. Jumairah Holdings Ltd. is the exclusive developer & buildings for planning, implementation & allotment of all facilities of the Lamsi Palace, a modern apartment complex, consisting of self-contained apartments, reserved car parking, other features etc. described in details in provisional brochure on Jumairah Holdings Ltd.
11. After taking over the apartment of the project, the allotment(s) must consult Jumairah Holdings Ltd. prior to undertaking any structural or layout change within apartment complex. Failure to do so will be at the sole risk of the allotee(s).
12. The schedule of implemenation had been methodically prepared to ensure both high quality and smooth progress of work. Construction is schedule to be completed within 36 months.
13. The completion period of the construction of the project can be affected by unavoidable circumstances beyond the control of Jumairah Holdings Ltd. like force majored, natural calamities, political disturbances, material security or price escalations strikes and changes in the fiscal policy of the state.
14. If, for any reason beyond the control of Jumairah Holdings Ltd. will refund the allottee(s) the booking money and all installments deposited within 60 days from the announcement made to damage whatsoever.
15. The allottee(s), after full payment of dues, will elect from among themselves a board of management for managing the general affairs in the common interest. Each allottee must deposit Tk/=25000(twenty five thousand) for each allotment of apartment towards the reserve fund for initial common service expenses of the complex.