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Hi !FirstName,
After extensive consultation we have finalised a clause for our Residential Sales Contracts that allows for delay because of 'disastrous' events.
This new clause assists in protecting residential sales contracts from certain events that may occur outside the control of the parties. It achieves this by allowing delays to time-critical obligations to be dealt with in a predictable way and with a view to progressing the contract to completion.
The 'Materially Adverse Events' Clause identifies a number of obligations that are subject to time restrictions (deposit, inspection, survey, finance and settlement) and a range of circumstances or events (such as a disaster requiring State Government intervention or a more localised natural event such as a flood) which may delay performance of those obligations.
The clause then defines a means of notification between the parties identifying the obligation affected, the cause of the delay and the method for re-starting the sale process.
All versions of Residential Sales Contracts now have the new clause and should be available to you within ADLForms. If you cannot see the clause (on the last page of the Contract) click on the Update button from the home screen of ADLForms.
1. The following forms are now ready for use in ADLForms thanks to valuable customer feedback:
New Form:
- Tenant's Confirmation - Receipt of Form 18a
Amended Forms:
- Contract for Sale of House and Land
- Contract for Sale of Residential Lots in a Community Title Scheme
- Application for Tenancy
- Application for Tenancy (with TICA statement)
- Application for Tenancy (with 100 point ID)
- Additional Applicant Details Sheet
- Expression of Interest
- Lessor Disclosure Statement
- Form 36 Notice of No Pool Safety Certificate
To view the changes made to the forms click on the 'Forms Change History' link in ADLForms (or click here).
Click on the link below to:
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