Consumer Protection Service rules against developers Geormaride Ltd

July 24, 2018 at 2:52pm
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The Consumer Protection Service has issued an administrative decision against land developer Geomaride Ltd for abusive clauses in its sales contracts.

More specifically it cited a clause obliging consumers to fulfil their payments before the company has transferred the title deeds, a high interest on late payments, burdening consumers with taxes and expenses which should be paid after the property is transferred and finally obliging consumers to sign a management agreement for common areas which is not attached to  the sales contract, thereby committing them to conditions they could not have known.