Before booking a studio or 2-bedroom flat at any UNIC Residences, you will be requested to effect a payment of an amount as a non-refundable reservation amount (the Reservation Amount). The payment of the Reservation Amount effectively completes your booking.
In consideration of the payment of the Reservation Amount, we shall reserve the studio or 2-bedroom flat in your favor, until the execution of a tenancy agreement between us (the Tenancy Agreement) containing the terms which will govern the lease of the studio or 2-bedroom flat.
The Reservation Amount is refundable only in the event where we have failed to provide you accommodation at any UNIC Residences. In such case, the Reservation Amount will be refunded in full, without interest.
Once you have paid the non-refundable Reservation Amount, you, and the person you will designate as your guarantor will have 5 (five) working days to sign the Tenancy Agreement. If both or any of you have failed to do so, we shall have the right to immediately proceed with the cancelation of your booking and keep the whole Reservation Amount. No further notice to you will be required. In such an event, you accept and authorises us to retain the Reservation Amount and acknowledge that we will have the right to promote and/or rent the studio or 2-bedroom flat to any other person.
No omission to exercise or delay in exercising our right to cancel your booking shall be construed as a waiver.
Once we have signed the Tenancy Agreement, the Reservation Amount count towards the deposit as this is described in the Tenancy Agreement.