Well-informed sources expected that a unified e-lease contract will be in use before the end of this year and stressed that the Ministry of Commerce and Industry (MoCI) is currently preparing the contract’s final form. The sources added that the Kuwait Real Estate Brokers Union had prepared an e-form of the contract with clauses that protect both tenants’ and owners’ rights. He added that if approved, the new unified lease contract will be issued from real estate brokers’ offices instead of the current contracts sold in bookshops.
Meanwhile, a number of real estate owners stressed the new contract will put an end to various cases of manipulation, reveal true rent values and put an end to many problems facing both tenants and landlords, as well as protect both sides’ rights. Notably, many regional countries have already started using e-contracts, while Kuwait still uses over seven types of contracts to which additional clauses can be added.-K.T.

=======================================================================================

AddThis Social Bookmark Button
 
share in whatsapp





 





 





 
© 2015 IndianFrontliners.com Powered By AgniSoftwares - USAContact Us  |  Disclaimer  
Doha Bank