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, assuring the full refund of lease payments to co-promoters according to the terms stipulated in the lease agreement.
Purpose
The risk mitigation tool created for the benefit of TAARD’s co-promoters (corporate lessees), will provide them with:
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 of 1 year
Terms:
The lessor (TAAL) guarantees the protection of the lessee’s deposit during the Development Period.
The 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:
Refund of Lease Deposit:
In the event of a demand for the lease amount refund by the lessee, the lessor will return the full deposit to the lessee (co-promoter), and her protected funds will be disbursed as follows:
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.
get in touch
agency
visit
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49 Bourdillon Road, Ikoyi, Lagos, Nigeria
+234 911 1111 101
+234 911 1111 102
enquiries@theafropolitanalpha.com
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