Terms and Conditions

Akurulo  – Terms and Conditions

1. Binding Agreement
   The Purchaser hereby acknowledges and agrees that by executing this Reservation Form (RF), they are entering into an irrevocable and binding agreement with the Vendor for the reservation and eventual purchase of the selected plot(s) or unit(s) at Akurulo Tech Ville Smart Settlement Project.

2. Payment Obligations
   The Purchaser undertakes to make all payments strictly in accordance with the agreed payment schedule. Payments may be made in Nigerian Naira or United States Dollars via cash, bank transfer, or cheque made payable to the Vendor’s designated account, as indicated in Section C of this document. All payments must be made net of any bank charges, deductions, or exchange rate fluctuations. If payment is made in a currency other than that specified, the Purchaser shall bear all associated currency exchange losses or variations. The obligation to fulfill payments as scheduled shall remain absolute and unconditional under all circumstances.

3. Default and Termination
   If the Purchaser fails to make any installment payment within fourteen (14) business days of the due date, the Vendor reserves the right to terminate this reservation. Upon such termination, 10% of the total booking amount already paid shall be forfeited by the Purchaser as liquidated damages. The Vendor may also recover additional losses incurred, and all Purchasers shall be jointly and severally liable in the case of multiple Purchasers. The Purchaser acknowledges that such forfeiture represents a fair estimate of potential loss due to default. Thereafter, the Vendor shall be free to resell the unit(s) or plot(s) to any other party.

4. Deed of Agreement
   Upon full payment by the Purchaser, the Vendor shall execute a Deed of Agreement with the Purchaser, thereby formally transferring the ownership rights to the reserved unit(s) or plot(s). The terms outlined in this RF shall be incorporated by reference into the Deed of Agreement and remain binding.

5. Notices and Communication
   Any notices pursuant to this RF shall be deemed duly delivered if sent by courier three (3) days after dispatch to the address provided by the Purchaser or via email one (1) business day after being sent to the provided email address. Should the Purchaser wish to change their address or contact details, they must notify the Vendor in writing. Such changes shall only become effective upon written acknowledgment by the Vendor.

6. Force Majeure
   The Vendor shall not be held liable for any delay or non-performance due to events beyond its reasonable control (force majeure), including but not limited to changes in legislation, government directives, delays or refusals in granting permits, labour disputes, utility outages, transportation interruptions, supplier or contractor failures, or any unforeseen disruptions.

7. Service Charges and Management Fees
   The Purchaser agrees to pay any applicable service charges and maintenance fees levied by the Akurulo Tech Ville Park Management or relevant governing authority from time to time.

8. Personal Agreement
   This RF constitutes a personal agreement between the Purchaser and the Vendor. It shall not confer any rights or liabilities upon third parties, nor may it be transferred or assigned by the Purchaser without the prior written consent of the Vendor.

9. Governing Law
   This RF and all related transactions shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

10. Execution and Jurisdiction
    This agreement is executed in Nigeria, and is effective upon signing by both the Purchaser and the Vendor on the date indicated below.