Building Contract Memorandum Of Agreement And Conditions Of Contract (Page 6 of 8) in pdf

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 6

Page 6.

13.2 In the event that any of the above conditions are not fulfilled within one

hundred and eighty (180) days from the date hereof, this agreement shall

be of no force and effect.

14. WHOLE AGREEMENT

This agreement constitutes the entire agreement between the parties and no

amendment, variation, alteration or deletion shall be valid and binding upon the

parties unless reduced to writing and signed and initialled by both parties.

15. DOMICILIUM CITANDI ET EXECUTANDI

The OWNER chooses domicilium citandi et executandi at the OWNER'S

ADDRESS and the BUILDER chooses domicilium citandi et executandi at the

BUILDER'S ADDRESS.

16. LATE PAYMENTS

Where registration of the PROPERTY has been effected and payments are not

made on the due date thereof, they shall bear interest at a rate of 4% above the

prime lending rate of the BUILDER'S Bank, as from the due date of such

payment.

17. DISPUTES

17.1 Any dispute or difference between the BUILDER and the OWNER arising

out of and during the currency of the contract or upon termination or

cancellation thereof, may be referred to arbitration.

17.2 The arbitrator shall be appointed at the request of either party by the

president for the time being of the association affiliated with the Building

Industries Federation SA having jurisdiction in the area.

17.3 The arbitration shall be held in terms of the Arbitration Act.

The

arbitrator is expressly authorised to determine the format and procedure

of the arbitration and, in so doing and more particularly with regard to

pleadings, discovery of documents and other matters of that kind, the

arbitrator shall in his sole discretion determine the procedure to be

adopted and shall have regard in that connection to the primary need to

determine the dispute or

difference as expeditiously and as

cheaply as possible and with resort to as little formality as is reasonably

practicable.

18. BUILDER'S DEFAULT

Should the BUILDER default by:

18.1 Without reasonable cause, wholly suspending the building before

completion thereof; or

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 6