To protect against negligence, a Management Entity must provide a bank guarantee in favour of the DLD. This guarantee serves as a security deposit that can be used to remedy any damage sustained by the Common Parts or Common Facilities due to the en…
To protect against negligence, a Management Entity must provide a bank guarantee in favour of the DLD. This guarantee serves as a security deposit that can be used to remedy any damage sustained by the Common Parts or Common Facilities due to the entity's omission or fault. If the entity fails to repair damage within a specified time limit, RERA may hire another entity to perform the work and deduct the costs directly from this bank guarantee, ensuring the property is always maintained.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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