Insider Business Consumer Protection Service rules against developers Geormaride Ltd

Consumer Protection Service rules against developers Geormaride Ltd

The Consumer Protection Service has issued an administrative decision against land developer Geomaride Ltd for abusive clauses in its sales contracts.

More specifically it cited a clause obliging consumers to fulfil their payments before the company has transferred the title deeds, a high interest on late payments, burdening consumers with taxes and expenses which should be paid after the property is transferred and finally obliging consumers to sign a management agreement for common areas which is not attached to  the sales contract, thereby committing them to conditions they could not have known.

 

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