Signature

Questions on this page

What is the price of the five-year contract?

The contract price is the KEY Price stated in the contract's Summary Table, according to the price list of the release currently in effect; the site does not state a figure. The KEY Price is a prepaid lease fee for the whole 05-year term, excluding VAT (Articles 1 and 6 of the sample contract), and differs by KEY tier: Standard, Holiday, Tet, Summer. Customers receive the price list with its effective date via the hotline or the distributor, and should rely only on the figure stated in the contract they sign.

Does the price include value added tax?

No. The KEY Price in the sample contract excludes VAT; the customer pays VAT in addition at the applicable rate, and if the law changes the rate, it is adjusted accordingly (Articles 6.1, 6.2 and Article 11). When reading the payment schedule in Appendix 3, note that the instalments there are stated including VAT, so compare the two figures carefully before signing to know the total payable.

What is the payment schedule?

Payment under Appendix 3 of the sample contract consists of a good-faith reservation amount and two instalments: the reservation amount is paid when signing the Reservation Confirmation Form; Instalment 1 within 24 hours of the contract signing date, transferred in full from the reservation amount; Instalment 2 within the number of days stated in the contract. Payment is by cash, bank transfer or card (Article 7.3). There is no grace period, and late payment incurs overdue interest (Articles 7.5, 7.6); the KEY is only activated once paid in full (Article 7.7).

Apart from the contract price, are there any other annual payments?

The Suite 05-year sample contract does not provide for a separate annual management fee: the KEY Price is a prepaid lease fee for the whole term (Article 1). Items outside the KEY Price include: VAT and taxes and fees under the law (Article 11); the guarantee certificate fee (Article 13.2); the week exchange fee (Article 5.1); administrative costs on transfer (Article 4.3); surcharges for amenities beyond the core (Appendix 2, item 4.2). Items not stated in the contract do not have to be paid.

Is the deposit refundable?

It depends on the stage. Before the contract is signed, the good-faith reservation amount follows the Reservation Confirmation Form, so the refund conditions are set out in that form. On signing, the whole reservation amount becomes Instalment 1 (Appendix 3 of the sample contract). After signing, amounts paid follow Article 17 if a breach by the customer leads to termination (the remainder is refunded after the penalty) and Article 18 if the lessor is late in activation (full refund with a penalty and interest).