These terms and conditions of business (“Conditions”) form a binding contract between us, Tailored Homes Pvt. Ltd. and You, the person getting into Service Apartment lease, and all members of the family for residential purpose (collectively the “Guests”) who will stay in our serviced apartment(s) (the “Property”). You will be deemed to have accepted these terms when making your booking with us.
1. LEASING PROCEDURE
1.1. These Conditions are accepted by you on behalf of all Guests Or guest himself at the time when payment is made against the lease signed.
1.2. It is your responsibility to ensure that all Guests in your group are given a copy of these Conditions and understand that they are bound by them.
1.3. The booking procedure is only complete when we send to you (to the email address stated on the booking form) confirmation which confirms the booking.
2.1. Payment is to be made in Indian Rupees only.
2.2. Full payment is due on 1st of every month till lease is legally valid before 10th of every month against the invoice raised.
2.3. Late fees shall be levied on the rental due amount only. The late fee of 10% shall be applied on the 11th day of the month on the pending amount.
2.4. Prices are quoted in Indian Rupees and are subject to only escalate during renewal of the lease. Once the lease is signed we will not increase the prices nor guest will have right to request for any decrease.
2.5. All prices quoted are exclusive of Goods & Services Tax (unless otherwise stated) and you will be required to pay Goods & Services Tax (where chargeable) at the prevailing rate.
2.5. Invoices will be submitted every month to claim the monthly bill.
3. SECURITY DEPOSIT
In addition to the monthly rental, the Customer shall pay a refundable security deposit (“Security Deposit”). The Security Deposit shall not carry any interest for the entire tenure. The Security Deposit shall be refunded to the Customer on the termination and after taking delivery of all the Products from the possession of the Customer. Once the final quality check is performed on all the pending utilities, furniture/fixture, and in case no damage is found, the Security Deposit shall be refunded within 15-21 working days to the Customer. Tailored Homes Pvt. Ltd. shall refund the Security Deposit to the account from which initial the Security Deposit was paid by the Customer. In case any pending utilities, damage is found in any Product, Tailored Homes Pvt. Ltd. shall have the right to deduct the charges for the damages or monthly dues from the Security Deposit paid by the Customer and shall refund the remaining amount to the Customer. In case of default in the payment of monthly rentals (including late fee), Tailored Homes Pvt. Ltd. shall have the right to deduct such rental dues from the Security Deposit and may at its sole discretion refund or forfeit the remaining balance of the Security Deposit. The Security Deposit shall not include any monthly rental, the Customer cannot request for the monthly invoice dues to be adjusted from the Security Deposit.
In the event, the Customer does not wish to extend the lease period beyond the agreement date, the agreement shall terminate on last day of the rental term. Tailored Homes Pvt. Ltd. shall have the right to terminate this Agreement immediately in the following events;
1. Default of payment of rental dues or any other payment dues by the Customer; or
2. Breach of any of the terms of this Agreement. Consequences of termination: Tailored Homes Pvt. Ltd shall have the right to take possession of the house along with furnishing provided to the Customer immediately;
3. Any payment pending from the Customer shall become payable immediately to Tailored Homes Pvt. Ltd.
4. The Security Deposit paid by the Customer shall be refunded to the Customer post the damage assessment of the Products, as per clause 4of this Agreement.
5. In case of termination due to non-payment of rental dues, the Security Deposit refund shall adjusted against the monthly rental.
5. GOVERNING LAW
This Agreement shall be governed by the laws of India and shall be subject to exclusive jurisdiction of courts in Gurugram Haryana.
6. OWNERSHIP OF PRODUCTS
Tailored Homes Pvt. Ltd. and / or its business partners shall at all times during the term of this Agreement, retain title to and / or be the beneficial owners of the Products delivered to the Customer, pursuant to the Agreement. Nothing in this Agreement shall be construed as a transfer of ownership of the Products to the Customer. The Customer shall give immediate notice to Tailored Homes Pvt. Ltd. if any of the Product is about to become liable or is threatened with seizure and the Customer shall indemnify Tailored Homes Pvt. Ltd. against all loss and damage caused by such action against its Products.
The Customer shall not assign or transfer any interest in this Agreement or the Products without the written consent of Tailored Homes Pvt. Ltd. Any such transfer or assignment shall be considered as illegal and hence a violation of the terms of this Agreement. Tailored Homes Pvt. Ltd. reserves the right to assign this Agreement, to any third party without prior notice to the Customer.