Comment

Representation ID: 1741

Received: 30/01/2015

Respondent: Cogent Land LLP (Cogent)

We would therefore recommend that the Instalments Policy is amended to reflect the following:
Sum Number of Instalments Payments
Less than
£25,000 1
Full payment within 120 days of commencement of development
£25,000 - £74,999 3
10% of payment within 120 days of commencement
40% of payment within 180 days of commencement
50% of payment within 270 days of commencement, or remaining balance to be paid upon substantial completion should this date fall within 270 days
£75,000 or more 4
10% of payment within 120 days of commencement
30% of payment within 360 days of commencement
40% of payment within 720 days of commencement
20% of payment within 900 days of commencement,
or remaining balance to be paid upon substantial completion should this date fall within 900 days