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Is it illegal for the owner to pull banners on the street after the resettlement house is overdue?
The judicial interpretation of the Supreme Court has provisions on liquidated damages for delayed delivery. If the delivery is overdue, the liquidated damages shall be paid according to the local rent standard of similar houses in the same lot.
Judicial interpretation of the Supreme Court on disputes over commercial housing sales contracts
Article 17 If the contract for the sale of commercial housing does not stipulate the amount of liquidated damages or the calculation method of compensation for losses, the amount of liquidated damages or compensation for losses can be determined with reference to the following standards: in case of overdue payment, it shall be calculated according to the total unpaid purchase price and with reference to the standard for financial institutions to charge interest on overdue loans stipulated by the People's Bank of China. Overdue delivery, in accordance with the relevant authorities announced or qualified real estate assessment agencies to assess the same lot of similar housing rent standards during the overdue delivery.
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