Refund & Cancellation Policy

REFUND & CANCELLATION POLICY

1. Introduction

At Radiant Real Estate, we are committed to maintaining transparency and fairness in all our business dealings. This Refund & Cancellation Policy outlines the conditions under which payments may be refunded or transactions canceled, in accordance with UAE Federal Law No. 5 of 2022, Abu Dhabi Law No. 3 of 2015, and our contractual agreements.

By engaging in transactions with Radiant Real Estate, you acknowledge and agree to the terms set forth in this policy.

2. General Refund & Cancellation Terms

All refund and cancellation requests are subject to:

• Terms specified in the Sale and Purchase Agreement (SPA)
• Abu Dhabi Law No. 3 of 2015 regulating real estate
• Federal Law No. 5 of 2022 regarding the regulation of the real estate sector
• Any other contractual agreements between Radiant Real Estate and the client

Important Requirements:

• All refund and cancellation requests must be submitted in writing to info@radiantrealestate.ae
• Requests must include relevant supporting documentation, including proof of payment and contract details
• Each request is reviewed on a case-by-case basis according to applicable laws and contract terms
• Processing time for approved refunds is typically 30-60 business days from approval date

3. Property Purchase Cancellation & Refund Conditions

3.1 Off-Plan Property Purchases

For off-plan properties registered with Abu Dhabi Real Estate Centre (ADREC), the following guidelines apply:

Developer Cancellation (Radiant Real Estate):

• If Radiant Real Estate cancels a project, purchasers are entitled to a full refund of all payments made, plus compensation as specified under Abu Dhabi Law No. 3 of 2015
• Refunds will be processed within 60 days of the official cancellation announcement

Purchaser Cancellation:

• If a purchaser wishes to cancel before construction reaches 60%, they may lose up to 30% of the paid amount, depending on construction progress
• If construction exceeds 60% but is not yet complete, the developer may deduct up to 40% of the paid amount
• If the property is completed but not yet handed over, the developer may deduct up to 50% of the paid amount
• Specific deduction percentages are detailed in the SPA and subject to ADREC regulations

Force Majeure:

• In cases of force majeure that permanently prevent completion of the project, both parties may be released from contractual obligations
• The treatment of payments already made will be determined in accordance with applicable laws and the decision of relevant authorities

3.2 Completed Property Transactions

For completed properties:

• Once the sale is registered with the Land Department, the transaction is considered final
• Cancellations are only possible in cases of material breach of contract or as determined by a court order
• Any refund resulting from such cancellation will be subject to legal proceedings and applicable laws

3.3 Reservation Fees & Deposits

• Initial reservation fees are generally non-refundable unless specified otherwise in writing
• For property reservations canceled within 7 days, a 50% administrative fee may be deducted
• For cancellations after 7 days but before SPA signing, the entire reservation fee may be forfeited
• Once the SPA is signed, the terms of the SPA govern any cancellation and refund

4. Leasing and Property Management Services

4.1 Rental Agreements

• Cancellation of a rental agreement before commencement date but after signing is subject to a penalty of one month’s rent
• Security deposits are refundable at the end of the tenancy, less any deductions for damages or outstanding payments
• Early termination of lease agreements is governed by the terms specified in the tenancy contract and Abu Dhabi rental regulations

4.2 Property Management Services

• Annual property management service fees are non-refundable once services have commenced
• For termination of property management agreements, 60 days’ written notice is required
• Pro-rata refunds may be considered for unused periods exceeding three months, less an administrative fee of 10%

5. Payment Processing & Service Fees

5.1 Transaction and Administrative Fees

• Administrative fees, processing charges, and documentation fees are non-refundable
• Government fees paid on behalf of clients (registration, Tawtheeq, etc.) are non-refundable once processed

5.2 Refund Methods

• Refunds will be processed using the original payment method where possible
• For cash payments or where the original payment method is unavailable, refunds will be made by bank transfer to an account in the payer’s name
• Credit card refunds may take 7-14 business days to reflect in the cardholder’s account after processing
• Bank transfer refunds may take 5-10 business days to reflect in the account

5.3 Currency and Bank Charges

• All refunds will be processed in the original currency of payment
• Any bank charges, currency conversion fees, or intermediary bank fees will be borne by the recipient
• For international transfers, an additional processing time of 5-7 business days may apply

6. Special Circumstances

6.1 Regulatory Changes

• If government regulations or laws affecting property transactions change significantly after a contract is signed, Radiant Real Estate will address refund requests in accordance with the new regulations and on a case-by-case basis

6.2 Material Changes to Properties

• If there are material changes to property specifications that substantially alter the value or usability of the property, clients may be entitled to cancel with a full refund or negotiate adjustments to the purchase price
• Such claims must be substantiated with documentation and are subject to verification

6.3 Client Default

• If a client defaults on payment obligations as per the SPA, Radiant Real Estate reserves the right to cancel the agreement and apply the default provisions specified in the contract
• This may include forfeiture of amounts paid in accordance with the terms of the SPA and applicable laws

7. Dispute Resolution

In case of disputes regarding refunds or cancellations:

1. Clients are encouraged to first attempt resolution directly with Radiant Real Estate customer service
2. Unresolved matters may be referred to the Abu Dhabi Real Estate Centre (ADREC) for mediation
3. If mediation fails, disputes will be settled by:
   • The Abu Dhabi Rental Disputes Settlement Center for leasing matters
   • The competent courts of Abu Dhabi for all other matters

8. Changes to This Policy

Radiant Real Estate reserves the right to amend this Refund & Cancellation Policy at any time in compliance with applicable laws. Changes will become effective upon posting on our website.

9. Contact Information

For refund requests or inquiries about this policy, please contact:

• Email: elitecare@radiantrealestate.ae
• Phone: 02 666 4431
• Address: Al Sahel Towers – Al Bateen – W12 – Abu Dhabi, United Arab Emirates

By engaging in transactions with Radiant Real Estate, you acknowledge and agree to this Refund & Cancellation Policy.