Final Payment To ID, Is it common to withhold x% of payment?
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 Oct 20 2022, 11:47 AM
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#1
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Junior Member
382 posts Joined: Jul 2008 From: Penang   
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well i dont think its fair to release final 5% payment on 13th month based on warranty..
warranty works their own way just like you buy anything of the shelf with warranty, you dont pay after the warranty has ended.. |
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Oct 20 2022, 12:26 PM
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#2
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Junior Member
382 posts Joined: Jul 2008 From: Penang
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QUOTE(mini orchard @ Oct 20 2022, 11:57 AM) You cannot compare with shelf warranty. Different industry have different ways to deal with warranty or dlp. yea but my point is a reliable ID or renovator will not runaway from you if you have any defects.. let the warranty process run its way.Developers also dont get full payment until the dlp is over. There is always a 5% retention sum and buyer get to stay in the property. Building interfloor by itself dont leak if no one is using the bathroom or kitchen. Only through usage, the defects, if any will appear.  i didnt know developer didnt get full $ from bank before DLP... i thought bank always release full amount to developer after 100% completion. |
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