What is the expected Payment terms and Period for the Successful Tenderer of an Industrial Land?

The Successful Tenderer shall:

  • Within 28 days from the date of JTC's acceptance of his tender (time in this respect being the essence of the contract and the 28 days shall include the date of JTC’s acceptance) furnish JTC one or more cashier’s order in favour of and immediately payable to the “Commissioner of Lands, SLA” for twenty-five per cent (25%) of the Tendered Sale Price together with the amount of GST chargeable in relation to the payment of such 25% of the Tendered Sale Price SAVE that such cashier’s order or orders shall comprise or collectively comprise (as the case may be) such sum of the 25% of the Tendered Sale Price already furnished to JTC pursuant by way of Tender Deposit or otherwise;
  • On or before the expiry of the 90-Day Period from the date of JTC’s acceptance of his tender (time in this respect being also the essence of the contract and the 90 days shall include the date of JTC’s acceptance) furnish JTC one or more cashier’s order in favour of and immediately payable to the “Commissioner of Lands, SLA” for the balance of seventy-five percent (75%) of the Tendered Sale Price together with the amount of GST chargeable in relation to the payment of such balance amount.

While every endeavour has been made to ensure that the information provided herein is correct, ALLIANCE FACILITIES MANAGEMENT PTE LTD disclaims liability for any damage or loss that may be caused as a result of any error or omission.