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24 Feb 2008 12:00 AM by twinkle Star rating. 4 forum posts Send private message

hi

does anyone have a bank gurantee that runs out soon, i spoke to trampolin and they say that phase 1 should be completed in 4 months, what happens to those that have bank gurantees that run out before this time, does anyone have any information on this.

tracy




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25 Feb 2008 8:11 AM by Tish Star rating in Surrey. 833 forum posts Send private message

Bank guarantees cannot "run out"  until the Licence of First Occupation is granted. 


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25 Feb 2008 8:17 AM by Tish Star rating in Surrey. 833 forum posts Send private message

I have c & p'd a response by Maria de Castro recently given to a poster. You can see the thread on the main Forum, headed Bank Guarantees. Marias responses are in green.

22 Feb 2008 8:27 PM

mariadecastro
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I'm in Algeciras (Cadiz)

I've made 437 posts

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PLease have comments below in green:

Hello Again, We have just been informed by our solicitor today that our bank guarantee ran out on the 30 th November when the build should have been completed but the builder has a 90 day extention written into the contract so it should at least be legal until the end of Fenruary? Extensions need to be communicated, justified and approved by you once the completion deadline stated in the contract arrives. Our Supreme Court prohibits automatic unilateral extensionsI did contact our agents in June last year about the guarantee runnung out and they informed us that the builder said the guarantee runs through until the build is completed is this true??? Of course, by Law this guarantees are always operative till the First Ocupation License is granted. Any cancellation deadline does not applyI do have a copy of the email the agent sent through to me to back this claim up.He told us that he has a promissory note in his office which the builder has agreed to sign next week, Help!!!!!! Daphebba.



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es





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