Hi, do you mean that the s&p has been signed or not yet?

If you meant late payment interest for the payment of balance purchase price, kindly check your s&p if this clause was included in the agreement. Considering the pandemic has been more than a year, this clause shouldve been inserted in the agmt.

However, if it's not, you can get your lawyer to prepare a supplementary letter or email in writing for the vendor to waive the Late pymt int. to you due to the implementation of FMCO.

As for the latest FMCO, law firms in the conveyancing line are not allowed to operate but only work from home. Land offices are closed as well.

Hope this helps!

After 1 year into the pandemic with mco, cmco and rmco, your lawyer should have inserted a clause to safeguard you.

You should check with your lawyer if such a clause exist.

If is pre covid, if the purchaser delay in completing the transaction and not because of the vendor's fault, then interest is payable.

The lawyers are still able to work and open as usual. So better check with the lawyers on this matter. Force majure clause only valid if it’s a full lockdown like the first MCO where everyone are stuck at home.

Of cos, if both the purchaser and vendor agreed to extend the signing until FMCO is over, you can request for your lawyer to draft a supplementary letter on this to protect both parties.

Actually should be ok since bank and lawyer are able to operate. I recently got 2 cases completed during FMCO and 2 SPA signed in lawyer firm too.

Hmm… then your lawyer will have to communicate with the vendor properly regarding this matter to avoid penalty.