LAD to be calculated from collection of ‘booking fee’ — Federal Court
By common practice, in Malaysia, developers have been collecting booking fees ranging from a few hundreds up to 5% of the property prices.
Federal Court: Late delivery payment calculation starts from the date of booking fees' collection
PUTRAJAYA (Jan 19): The Federal Court has ruled that the calculation of the late delivery payment or Liquidated Ascertained Damages (LAD) to begin from the date the booking fees is paid to the developer, instead of the signing of the sales and purchase agreement (SPA).
