When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.
But we give you a solution!!
Read this space every Tuesday & Wednesday for Real Estate Jargons.
- Relate to the interior permanent furnishings required in a property including HVAC ducting, fire protection system implementation, establishment of workstations and telephone/computer cabling among others, in order to make the property fit for usage.
- An industrial building of more than one storey, usually with two or more goods lifts, and constructed or converted for multiple occupation.
- The building is subdivided into small, separately occupied units which are used for manufacturing, assembly and associated storage.
- A force, which cannot be resisted, in other words, something beyond the control of the parties involved.
- It includes acts of God and acts of man, e.g. Riots, strikes, arson, etc.
- In many contracts and insurance policies, specific provision is made for damage or injury arising from force majeure.
- For example, the financial liability of a building contractor for failure to complete by a specific date may be relieved to the extent it was caused by force majeure.
- This is a common clause in most property contracts.