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Are there any penalties on late payment, leading to the possibility of cancellation?

April 26, 2017cancellation late Leading payment penalties POSSIBILITY

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Are there any penalties on late payment, leading to the possibility of cancellation?

1 Answer

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10 Posted

Almost all societies impose surcharge at varying rates on late payment of installments. Bahria had imposed PKR. 500/- penalty per day in December ’04 while NFC Phase II is currently not recovering any surcharge on late payments. Each society has its own norms and practices.