Has the Sun Set on Sunset Clauses?
‘Off-plan’ sale and purchase agreements are attractive to both vendors and purchasers.
The vendor bears the risk that the cost to complete the project increases after the agreement has been signed, however, by locking in the purchaser to a fixed price, they can predict sales revenue reasonably accurately before development begins, satisfying their funder that it is economically viable and helping them to secure finance.
Although the purchasers bear the risk of the development taking longer to complete than expected, leaving their deposit tied up for this period, it allows them to enter the market at the today’s price with the hope that the property will have increased in value by the time they move in.
These agreements typically include ‘sunset clauses’.
Everything you need to know about the Minimum Wage
When starting out in employment it is important that you know what you are entitled to be paid. There are three different types of minimum wages in New Zealand:
- Starting out wage;
- Training wage;
- Adult wage.
Employer Responsibilities When Employees are Working From Home
Employees working from home? A workplace split into teams?
New ways of working require updated health and safety assessments. Have you done yours?
What to do if one of your employees tests positive for Covid-19
If one of your employees tests positive for Covid-19 there are procedures you must undertake. Rules are changing all the time, so when you read this be aware there may have already been changes. Also there are many things that frankly are not very clear yet, but I’ll do my best to set out what employers currently must do by law.
Home Loan Changes: Skip the ‘Avo on Toast’ If You Want a House!
Following the implementation of new responsible lending rules in December, the news has been full of stories about the ways that our updated Credit Contracts and Consumer Finance Act (CCCFA) has impacted ordinary people.
Whether they are spending $187 on Christmas presents at Kmart, too much on a gym membership, or visiting their parents too often, mortgage applicants are being declined from all directions as banks struggle to abide by these new rules. Instead of protecting them from predatory lending, they’re restricting their access to necessary, even urgent, loans.
