Compensation Calculation

This topic contains 1 reply, has 2 voices, and was last updated by  mork 10 years ago.

  • Post
    carol 888
    Member

    Mark,

    If you’ve purchased on phase 2, I have been advised that compensation is calculated as follow:

    – Euribor at six months + 5% from August 15th 2009 until September 30th 2009.

    – Euribor at six months + 10% from October 1st 2009 until 28 days from the reception of the title deed notification.

    – The amount of the compensation will be deducted from the final payment.

    I’m sure if you e mail Iain he will advise you of your compensation todate.

    carol

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  • Replies
    mork
    Member

    Could someone please explain using an example the way to calculate compensation due from Tecnicil, as i am unsure if my interpretation is correct.

    To my mind using hypathetical figuers.
    Euribor 1.3
    Amount paid to Tecnicil 50,000 euro
    late delivery 12 months
    Compensation at Euribor +10 points
    Therefore
    1.3% + 10% (10 points) = 11.3%
    50,000 x 11.3% = 5650 divided by 12 months = 470 euros of compensation per month??

    Regards

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