Delay Penalty

This policy outlines the conditions for a delay penalty if your project is not completed by the confirmed move-in date.

What is a Delay Penalty?
A delay penalty is a discount given to you if your project handover is delayed by more than 15 days beyond the confirmed move-in date. The penalty is calculated at 0.1% of the total project value for each day of delay after this grace period.
• The maximum penalty is capped at 3% of the total project value.
• Penalties are issued as a cashback.

When the Penalty is Not Applicable
The delay penalty is void and will not apply in the following situations:
- Customer-Driven Changes: Any changes to the design, materials, or scope of work after the move-in date is communicated.
- Customer Responsibilities: Delays caused by work or approvals handled by you, including site access, utility availability (power/water), and local authority approvals.
- Payment Delays: Non-payment, partial payments, or late payments.
- Third-Party Issues: Delays in production or delivery from third-party brands.
- Force Majeure: Events beyond our control, such as natural disasters, strikes, power failures, or unforeseen supply issues. Neshstories will notify you of such delays within 72 hours.