Off-Plan Old » The Afropolitan Alpha

OFF-PLAN LEASE
PROTECTION

TAARD’s off-plan lease protection serves as a risk management tool, ensuring that TAARD’s co-promoter’s lease payments are protected and refunded upon demand by them. This tool takes the form of a promissory note issued on behalf of TAARD to co-promoters by a Grade A Nigerian Bank or Insurance company, assuring the full refund of lease payments to co-promoters according to the terms stipulated in the lease agreement.

purpose

The risk mitigation tool was created for the benefit of TAARD’s co-promoters (corporate lessees), will provide them with:

Safeguards against any unforeseen events

This instrument acts as a financial safety net, protecting the financial interests of TAARD’s co-promoters by mitigating any risk of losing their payment in the event of any unforeseen events.

Assurance of a full refund

By providing assurance of a full refund upon demand to our co-promoters, TAARD is in effect, ensuring they are protected from any uncertainties related to the project’s development.

Adequate comfort

This instrument also provides our co-promoters with the comfort they require to enter an off-plan lease agreement with us.

COVERAGE LIMITS

Your Off-Plan lease payments are protected till delivery of the apartment, of which the estimated completion and handover timeline is 36 - 42 months (about 3 and a half years).

LEASE PAYMENT

Minimum 1 year

TERMS

The Lessor guarantees the protection of the Lessee's deposit during the Development Period. Lessee (co-promoter) can request a full deposit return anytime during this period. The Lessor commits to returning the full amount promptly, without any deductions.

ELIGIBILITY CRITERIA FOR CO-PROMOTERS

Your organization must formally express her interest to lease one or more of TAARD's exquisite 1 or more-bedroom apartments for 1 or more years. Your organization must enter an exclusive agreement with TAARD as lessee and co-promoter of TAARD's mission regarding the above.

Refund of

Lease Deposit

In the event of a withdrawal of interest, the Lessor will return the full deposit to the lessee (Co-promoter), and her protected funds will be disbursed as follows:

Within the first year of executing a lease agreement – 14 (fourteen) working days from date of request.
After the first year of executing a lease agreement – 1 (one) month from date of request.

Claims Process

The lessee is required to submit a refund request with a withdrawal of acceptance letter and wait out the period stipulated to receive the refund.

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