Kota Kinabalu: Shareda President Datuk Sr. Chua Soon Ping lauded the advent of the Certificate of Completion and Compliance (CCC) era, replacing the Certificate of Fitness for Occupation (OC), as this will cut down property developers’ liability to pay liquidated ascertained damages (LAD) for completion date delays.
This was particularly pressing in the past if the local authority was slow to issue the OC, a factor that was beyond the control of developers as in cases of unforeseen adverse weather periods during construction schedule and black swan events like a pandemic lockdown.
Chua lamented that Sabah was the only state to stipulate a fixed contractual completion timetable.