Schedule of Progress Payment
The below amounts will be invoiced in Sri Lankan Rupees at the exchange rate at date of each invoice.
| No. | Payment Details (Three-Bedroom House) | Breakdown | Amount (Rs.) | Estimated Timeline |
|---|---|---|---|---|
| 1. | As Reservation Fee-Acceptance of the offer letter | 1.67% | $6,430(USD) | Day 1 |
| 2. | As First Installment-at signing of Sales & Purchase Agreement | 20% | $77,000(USD) | 6 to 8 weeks from reservation |
| 3. | As Second Installment-Commencement of work | 20% | $77,000(USD) | 3 months from S & P Agreement |
| 4. | As Third Installment-On completion of concrete casting of ground floor slab on buyer's particular building | 20% | $77,000(USD) | 6 months from S & P Agreement |
| 5. | As Fifth Installment-Basic roof structure is erected and water tight(This does not include decoration of underside) | 15% | $57,750(USD) | 8 months from S & P Agreement |
| 6. | As Sixth Installment-Interior and exterior plaster completed(Putty coats are applied to interior and exterior of buyer's particular building) | 15% | $57,750(USD) | 10 months from S & P Agreement |
| 7. | On Practical Completion of property. | 8.33% | $32,071(USD) | 15 months from S & P Agreement |
| Total | 100% | $385,000(USD) |