As approved and ammended by the CEO, this system will be effective starting May 1, 2010.
1. Contracting Fee
The first payment is the Contracting Fee. It is 30% of the Total Contract Price (TCP), paid in spot. In this period, Construction Agreements is put into contract. Contracting Fee is non-refundable after the payment and is non-transferrable after 7 days.
2. Processing Fee
Is intended for accounts where service is rendered to process the papers for Bank Financing and Pag-ibig Financing. Is deductable to the Total Contract Price and equivalent to Php 10,000.00
3. INCLUSIONS of the Total Contract Price (TCP):
The Total Contract Price includes:
1. Materials purchasing & transportation
2. Labor / manpower compensation
3. Site Supervision & Management
4. Professional fees on plans & designs(civil engineer, architect ,structural engineer, electrical engineer, master plumber)
5. VAT & other taxes
6. Certification of Land Title (Registry of Deeds)
7. Certification of Tax Dec (City/Municipal Treasurer)
8. Acquiring of Barangay Clearance (legwork & payments)
9. Acquiring of City Locational Clearance (legwork & payments)
10. Acquiring of Building Permit (legwork & payments)
11. Electrification (legwork)
12. Water Connection (legwork)
13. Acquiring of Occupational Permit (legwork & payments)
14. Warranties
4. EXCLUSIONS of the Total Contract Price (TCP):
Unless stated on the Contract of Construction, these are the items not included in the Total Contact Price:
a. For subdivision properties with construction regulations, bonds & other subdivision regulatory fees are not included in the price. This will be paid by the owner to the developer or the subdivision management.
b. For far areas wherein it would take time & fuel to transport materials, long-distance transportation fee (LDTF) will be charged. This is subject for verification by the Technical Team.
c. For special designs or designs not included in the Emery Estates Easy-Homes Collection, we charge additional professional fees.
d. Land Development Cost. Landfilling, riprapping, hauling, land leveling and other earth movements are not included in the package.
e. Fencing.
f. Structure Demolitions.
g. Light fixtures, electric meters, post and payments to electric service providers.
h. Water meter, outdoor water piping and payments to water service providers.
i. Other areas not stated in the Contract of Construction.
5. Discounts
Discounts will be availed on Spot Cash payments only. :
a. 5% discount will be availed if Spot Cash payment is paid outright during Contracting date.
b. 3% discount if the remaining amount will be paid w/n 7 days from the date of Contracting.
c. No discounts will be given for payments exceeding 7 days.
6. Refunds
Any payment is non-refundable upon receipt thereof.
7. FINANCING SCHEMES:
7.1 Spot Cash
SpotCash is the payment of 100% of the TCP. Clients get to avail discounts as stated on the Guideline for Discounts.
Computations on discounts will be released by the Marketing Team.
7.2 Deferred Cash
Deferred Cash is paying the 30% of the TCP in spot (for contracting purposes) while the payment of 70% would be in stagard-basis. Computations will be released by the Marketing Team. The maximum period is stated below:
a. 2 months equal payment (of the 70% of the TCP) for Starter Homes
b. 4 months equal payment (of the 70% of the TCP) for Deluxe Homes
c. 6-8 months equal payment (of the 70% of the TCP) for Negosyo & /Green Homes
7.3 Bank Financing
Bank Financing is a collateral loan wherein the lot ownership / title will be mortgaged as a collateral of the loan.
In Bank Financing, 30% of the TCP will be paid in spot (for contracting purposes) while 70% will be financed by the bank.
This financing process will be a joint coordination between Emery Estates, our client and the bank. The client will start paying the monthly amortization only after the construction finishes. Term of payment could be up to 25 years. Fixing rate is also available up to 25 years.
8. PHASES OF HOME-BUILDING:
8.1 Preparatory Phase
30-45 days for finalizing of technical details, processing of government permits & complying of subdivision regulatory requirements.
8.2 Construction Phase
2-3 months for starter homes, 4-6 months for De Luxe Homes, minimum of 8 months for Negosyo & /Green Homes.
8.3 Turn-over Phase
An Inspection Checklist will be done with the owner, Client Care & Technical Team before turn-over of unit to check if the unit is acceptable by the owner. The turn-over is a complete house without electrical & water connection, unless otherwise stated by the contract. Acceptance of the unit will be formalized with the Turn-over of Keys.
9. Warranties
Warranty per house part will be given by the Technical Team. Within the warranty period, if cracks, leaks, discoloration or damages would occur under normal usage, repairs will be done free of cost and charged to the Technical Team.
