1. Any purchaser interested in reserving a property through Aldar’s online web application (the "Purchaser"), shall at his full responsibility provide and submit complete and accurate contact and identity information and documents, as required by Aldar in its absolute discretion and in order to comply with Aldar’s “know your customer” policies and procedures.
2. After the Purchaser has selected his property of choice through Aldar’s online web application (the "Property"), the Purchaser shall pay by credit card a non-refundable deposit of AED 25,000 (the "Reservation Fee") to reserve the selected Property (the "Reservation") for a period of 5 (five) business days (the "Reservation Period"), starting from the date the Reservation Fee was paid.
3. Before the expiry of the Reservation Period, the Purchaser shall sign Aldar’s sales and purchase agreement for the Property (the “SPA”) and pay in full to Aldar the first instalment (the "First Instalment") of the purchase price of the Property (the "Purchase Price") less the amount of the Reservation Fee in accordance with the SPA. The balance of the Purchase Price shall be payable in accordance with the payment schedule disclosed through Aldar’s online web application for the Reservation. If the Purchaser (i) fails to sign the SPA and/or (ii) pay the First Instalment within the Reservation Period for any reason whatsoever and/or (iii) fails to provide any identity information and documents required by Aldar in accordance with paragraph 1 above then the Reservation shall automatically terminate (unless Aldar decides otherwise at its absolute discretion) upon the expiry of said period and the Reservation Fee shall be forfeited to Aldar, without need for notice, court judgment or any further proceedings (legal or otherwise).
4. The Reservation Fee is not refundable to the Purchaser for any reason whatsoever. The Reservation is not transferable or assignable and cannot be used to purchase the Property in the name and/or for the benefit of third parties. Any such purchase, attempted transfer or assignment will be considered null and void. For the avoidance of doubt, and without any limitation, real estate agents/agencies are not allowed to reserve through this online web application any Property in favour or for the benefit of any of their clients.
5. In addition to the Purchase Price, the Purchaser agrees to pay all pre-registration and/or final registration charges and any other related amounts, as may be levied by Abu Dhabi Municipality or other relevant authority, for the transfer and registration of the Property or the SPA with Abu Dhabi Municipality or other relevant department. The pre-registration and/or final registration charges may be changed by Abu Dhabi Municipality or other relevant department and the Purchaser undertakes to pay any additional or changed charges.
6. None of the online posting of any property, this online web application nor the Reservation constitutes any binding agreement of sale or any promise to sell by Aldar. Aldar’s signature on the SPA shall constitute an approval by Aldar to sell the Property to the Purchaser. The sale of any Property is subject to Aldar’s approval of the Purchaser, at its absolute discretion.
7. The Purchaser agrees to comply with all regulations, laws and requirements in all relevant jurisdictions and obtain all licenses, consents or permissions required to enter into and perform his/its obligations under the Reservation, the SPA and/or under any document executed or to be executed in connection therewith.
8. The Purchaser hereby represents and warrants to Aldar that he has read, understood, and agreed to all the terms and conditions of this Reservation and he is entering into a transaction with Aldar at his own risk, responsibility and liability. Aldar, its affiliates and subsidiaries, the respective shareholders and partners, directors, employees, agents and representatives shall not be held responsible or liable in any manner whatsoever for any loss, costs, damages, or liabilities whatsoever incurred and in any way related to or connected with this subject, whether now or in the future, and the Purchaser irrevocably and unconditionally discharges and releases them from all such obligations and liabilities.
9. The Purchaser irrevocably and finally agrees and authorizes Aldar (including its affiliates and subsidiaries) (together the "Group") to collect, transfer, store and use the Purchaser's information for any legitimate purpose inter alia for internal record keeping, to contact the Purchaser either directly or through any third party service provider and/or to comply with any legal requirements. The Purchaser accepts and agrees that although the Group employs security measures in order to protect the information of its customers, the Group cannot guarantee that the security measures will protect against the loss or misuse of the Purchaser's information and accordingly the Group shall bear no responsibility of any kind in respect thereof.
10. Aldar reserves its right at all times and at its absolute discretion, to amend these terms and conditions from time to time, or cancel/suspend the online web application process/portal, without the need for notices and without any liability whatsoever.