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Hi Kevmeister, Sorry but I have to disagree. The developer is never "liable" if you rescind or are unable to settle. They simply receive the amount of the deposit from the insurance company, who in turn chase you for said amount. With long term settlements, this situation is actually...

Hi wbthom and Rolf, Wouldnt it have been better to include in the contract that, if the the development does not proceed, the developer is liable for a penalty, payable to you, of an amount not less than the cost of the deposit bond. They are asking for insurance from you, why not ask for...