I recently purchased a home at 75% completion where I signed all agreements by 7th of March. One week prior to the developer progress payment claim (dateline is 13th April), my bank told me they have yet to approve payment due to incomplete Power of Attorney documents. The development project is a JV between the developer and 8 individual landowners. Now the developer threatens to charge interest on me for failure to obtain payment from my bank. Since I assume it is in the developer's interest to earn an extra buck, is there any legal route I can resort to to deter them?

Dun worry about that interest as long you have settled your part..the interest you put back to them as the power of attorney not ready and not your fault..hope this helps

Ask your bank or lawyer to immediately write to the developer to inform them about the incomplete PA. State clearly that the developer's documentation is not complete and they must rectify.