Asked by j***@gmail.com
Hi… my name is Jennifer from Kuching Sarawak, i currently working with an electrical company. We have signed a contract with contra agreement with client. Upon our work done for supplying to new build houses for our client (developer), we submit our claim/invoice and off set against the houses they have contra to us.
We have buyer of the houses, the SPA is between the developer and buyer. my question is, can we (contractor) request the developer to allow the buyer make payment of loan differential sum to us directly instead to developer? (Eg. selling price of a house is 500k, loan approved is 300k, the differential amount is 200k cash payment by the buyer) we have invested lot of funds for the housing project and we need fund assisting our cash flow. So, is the payment from seller is allowable to pay contractor?
Please advice.
We have buyer of the houses, the SPA is between the developer and buyer. my question is, can we (contractor) request the developer to allow the buyer make payment of loan differential sum to us directly instead to developer? (Eg. selling price of a house is 500k, loan approved is 300k, the differential amount is 200k cash payment by the buyer) we have invested lot of funds for the housing project and we need fund assisting our cash flow. So, is the payment from seller is allowable to pay contractor?
Please advice.
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