I’m sure Andy won’t mind, refreshing everyone’s memory with this …
What I can tell you is, your contact is very clear and there is no doubt that if you are phase 1 with completion originally stated for 30 Sept 08, Tecnicil are in breach and I do finally think they are admitting that. Tecnicil will obviously claim FM, as this will automatically relieve them of their responsibility to refund double deposit and I understand why they would want to do that. That said the FM argument has to be proved and it is your choice to challenge it if you wish. Should they prove it, the contract still states that you are entitled to money back, if you go to court, yes, it may take years and I again can't comment if Tecnicil would want to go down that route or not, but it wouldn't be too great for their name commercially I guess. But make no mistake that you signed a contract based on the clauses within it and it is they, not you, that have breached those clauses, so the courts will see that you are only acting as per the agreement that you entered into. If the contract had been any different or certain clauses been missed out, would you have signed it?
Reply from Tecnicil ….
Word for word;-
It is Tecnicil's understanding that, only it is true that property has not been delivered on time, there can be no doubt that it will be delivered to you. As a result we do not believe this small delay can be viewed as a total breach of contract and so your request for cancellation and return of funds should not be met.
Furthermore, it is our belief that the forecasted date for conclusion of the works is well within the parameters of the international construction industry.
We do recognize; however, is our obligation to pay compensation to our clients for the period of the delay. This compensation will be calculated at Euribor plus 5% for the sum you have paid to us to date.
Kind Regards
NO MENTION OF ANY OTHER HIDDEN DOCUMENT ?
it may help