It appears a request to the bank for a Progress payment will not be approved by May1.
There were Only 5 days from request of funds by builder to using penalty clauses, as per the contract. Standard qld contract.
After May 1 the builder is entilted to use penanlty clauses for not having sufficnt fiance to proceed.
In reality will the builder immediatly invoke these clauses .
Are there 3 days of grace or something similar?
The funds will be approved but the bank is just slow , and I have informed the builder .
40 % of funds have already been outlayed
There were Only 5 days from request of funds by builder to using penalty clauses, as per the contract. Standard qld contract.
After May 1 the builder is entilted to use penanlty clauses for not having sufficnt fiance to proceed.
In reality will the builder immediatly invoke these clauses .
Are there 3 days of grace or something similar?
The funds will be approved but the bank is just slow , and I have informed the builder .
40 % of funds have already been outlayed