Elegance Gran Natal/travelling There

[TONYC1234]

Hi Dee Dee1

What Was The Guarantee The Bank Gave You For Your Deposit. They Told Me That Barcley's Bank Would Send 100% Money Back If Something Goes Wrong? Is This The Case?

Tonyc1234

[deedee1]

Hi Tony,

I havent had the chance to read through the barclays bank guarentee theyve sent me to sign yet- maybe because Ive been on here tooo much the last few days!!!

But normally bank guarentees offer full 100% money back- if anything goes pearshaped!
But realistically because the payment plans for the project are good it means that we have less to worry about also!
We pay our 30% at contract stage (- reservation fee)at the end of this year then 70% on completion in 2 1/2 years time!

With a bank guarentee normally it will cover you incase i.e the developer goes bankrupt, runs off, doesnt complete development etc!
The bank will not release or authorise the funds to be released to the developers until they have completed a certain stage in the project to date like they said they would -or according to what stage the contract says!
i.e- stage payments at foundations, roof level, completion etc!!

Hope this helped a bit-

Lisa do you have any information regarding the bank guarentee for GNG???

See ya D