Q1: What is SETIA 10:90?

SETIA 10:90 is the build-then-sell (BTS) scheme where purchasers pay only 10% upon signing of sale and purchase agreement (SPA) and pay the balance 90% only after the completion of property. The spa used will be either schedule I (for landed property - individual title) or schedule J (for subdivided building - strata title properties).

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Q2: How is SETIA 10:90 different from a deferred payment scheme?

In a deferred payment scheme, purchaser is still invoiced according to the payment schedule allowed by schedule G & H. The developer then allows the purchaser to make payments either later or in instalments, either charging or waiving any late payment interest.

In a BTS scheme, there is no need to defer any payments. Apart from the first 10% being billed at the point of signing SPA, there is no other progressive billings until the completion of property. The remaining 90% of purchase price is invoiced upon delivery of vacant possession supported by the certificate of completion and compliance.