PUBLIC OFFER

PUBLIC OFFER

Regarding the Online Reservation of Real Estate

CHAPTER 1. GENERAL PROVISIONS

1.1. Subject Matter of the Offer

1.1.1. This Public Offer (hereinafter referred to as the "Offer") constitutes the public offer of ARMCONSTRUCT LLC (hereinafter referred to as the "Developer") to provide online reservation of real estate through the Developer's official website and to receive a Reservation Fee under the terms and conditions set forth herein.

1.1.2. This Offer governs the legal relationship arising between the Developer and the Customer solely in connection with the online reservation process.

1.1.3. This Offer does not constitute a real estate sale and purchase agreement, a preliminary agreement, or any legal basis for the transfer of ownership rights.

1.1.4. The purpose of the online reservation is to reserve the selected Property for the Customer for the period specified herein until the relevant agreement is executed or the reservation period established by this Offer expires.

 

1.2. Definitions

For the purposes of this Offer, the following terms shall have the meanings set forth below:

Developer – the legal entity publishing this Offer.

Customer – any individual or legal entity making an online reservation through the Website.

Property – an apartment, residential house, commercial premises, parking space, storage unit, or any other real estate offered for sale by the Developer.

Reservation Fee – the amount paid by the Customer on the basis of which the selected Property is temporarily reserved.

 

1.3. Acceptance of the Offer

1.3.1. Before proceeding with the payment process, the Customer shall carefully review this Offer.

1.3.2. This Offer shall be deemed accepted if the Customer:

  • checks the box stating "I have read and accept the terms of the Public Offer";
  • checks the box stating "I have read and accept the terms and conditions regarding the cases in which the AMD 500,000 (five hundred thousand) Reservation Fee is non-refundable”;
  • clicks the "Proceed to Payment" button; and
  • proceeds to the payment platform and pays the Reservation Fee.

1.3.3. Acceptance of this Offer constitutes the Customer's full and unconditional agreement to all terms and conditions of this Offer.

 

1.4. Governing Law

1.4.1. This Offer shall be governed by the laws of the Republic of Armenia.

1.4.2. All matters relating to this Offer shall be interpreted and enforced in accordance with the laws of the Republic of Armenia.

 

CHAPTER 2. ONLINE RESERVATION PROCEDURE

2.1. General Provisions

2.1.1. The Developer provides the Customer with the opportunity to select a Property offered for sale through the official Website, complete an online reservation, and pay the Reservation Fee in accordance with the terms and conditions of this Offer.

2.1.2. The online reservation is intended solely to reserve the selected Property for the Customer for a specified period and does not, in itself, create any ownership rights or other proprietary rights in respect of the Property.

 

2.2. Property Selection

2.2.1. The Customer shall select the desired Property from the available Properties displayed on the Website.

2.2.2. The prices, floor plans, descriptions, dimensions, specifications, and other information published on the Website are provided for informational purposes only and may be amended prior to confirmation of the reservation, unless otherwise required by the legislation of the Republic of Armenia or by the Developer.

2.2.3. If the selected Property is no longer available due to technical or other reasons, the Developer shall notify the Customer and, where payment has already been made, refund the Reservation Fee in accordance with the terms of this Offer.

 

2.3. Reservation Process

2.3.1. The online reservation of a Property shall be completed in the following order:

  • The Customer selects the desired Property on the Website.
  • The Customer completes the mandatory personal and contact information, including:
    • full name;
    • a valid, active, and accessible mobile telephone number through which the Developer may contact the Customer;
    • e-mail address; and
    • any other information required by the Developer.
  • The Customer reviews this Public Offer.
  • The Customer confirms acceptance of the Offer by selecting the corresponding checkbox.
  • The Customer confirms the terms and conditions regarding the cases in which the AMD 500,000 (five hundred thousand) Reservation Fee is non-refundable by selecting the corresponding checkbox.
  • The Customer is redirected to the secure online payment platform.
  • The Customer pays the Reservation Fee.
  • Upon successful confirmation of payment, the Developer's information system registers the reservation, generates an electronic confirmation, and sends it to the Customer.

2.3.2. A reservation shall be deemed completed only after the Reservation Fee has been successfully confirmed and the reservation has been recorded in the Developer's information system.

 

2.4. Reservation Period

2.4.1. The reservation shall become effective upon successful confirmation of the Reservation Fee payment.

2.4.2. The reservation shall remain valid for twelve (12) days from the date of successful payment confirmation.

2.4.3. During the Reservation Period, the Developer undertakes not to offer or sell the reserved Property to any other purchaser, except as otherwise provided by this Offer or the applicable legislation of the Republic of Armenia.

2.4.4. During the twelve (12) day Reservation Period, the Customer shall contact the Developer and take all necessary steps required for the execution of the relevant agreement.

2.4.5. If the Parties fail to execute the relevant agreement within the twelve (12) day Reservation Period, or do not extend the reservation period in writing or by electronic means, the reservation shall automatically expire.

 

2.5. Payment Confirmation

2.5.1. A reservation shall be deemed completed only if:

  • the Offer has been accepted;
  • the terms and conditions regarding the cases in which the Reservation Fee is non-refundable have been accepted;
  • the payment has been successfully confirmed; and
  • the reservation has been registered in the Developer's information system.

2.5.2. Upon successful completion of the payment, the Customer shall receive an electronic confirmation containing at least:

  • the reservation number;
  • the details of the selected Property;
  • the amount paid;
  • the Reservation Period; and
  • the Developer's contact information for further communication.

2.5.3. If the payment is not confirmed or the transaction is declined by the payment system or the card-issuing bank, the Property shall not be deemed reserved.

CHAPTER 3. RESERVATION FEE, PAYMENT AND REFUND

3.1. Reservation Fee

3.1.1. To complete an online reservation of the selected Property, the Customer shall pay a Reservation Fee of not less than AMD 500,000 (Five Hundred Thousand Armenian Drams) (hereinafter referred to as the "Reservation Fee").

3.1.2. The Reservation Fee shall be paid as a one-time payment through the secure online payment platform designated by the Developer.

3.1.3. The Reservation Fee constitutes the amount payable for the temporary reservation of the Property and shall not, in itself, constitute payment of the full purchase price of the Property or create any ownership rights therein.

3.1.4. If the Developer and the Customer enter into the relevant agreement for the acquisition of the Property or an agreement for the acquisition of the right to purchase real estate or a residential house in a multi-apartment or subdivided building under construction, the Reservation Fee shall be credited toward the amount payable for the purchase of the Property, unless otherwise agreed by the Parties in writing.

 

3.2. Payment Procedure

3.2.1. Payments shall be processed exclusively through a licensed payment service provider designated by the Developer.

3.2.2. Payment card details shall be processed directly by the payment service provider. The Developer shall neither collect, store, nor process the Customer's payment card information.

3.2.3. A reservation shall be deemed completed only after the payment service provider has successfully confirmed the payment.

 

3.3. Refund of the Reservation Fee

3.3.1. The Reservation Fee shall be refunded in full if:

  • the Developer is unable to reserve the selected Property;
  • it is established that the Property has already been sold or reserved by another person;
  • the reservation could not be completed due to a technical failure of the Developer's systems or the payment system;
  • the Developer declines to proceed with the transaction for reasons not attributable to the Customer; or
  • the refund is required under the applicable legislation of the Republic of Armenia.

3.3.2. Unless otherwise required by the applicable payment system rules, the refund shall be made to the same payment card or by the same payment method used for the original payment.

 

3.4. Non-Refundable Cases

3.4.1. If the Customer, at their own initiative, withdraws from entering into the relevant agreement for the acquisition of the Property or the agreement for the acquisition of the right to purchase real estate or a residential house in a multi-apartment or subdivided building under construction (hereinafter also referred to as the "Agreement"), or fails to take the actions necessary for the execution of the Agreement within twelve (12) days, the Reservation Fee shall be non-refundable.

 

3.5. Liability in Relation to Payments

3.5.1. The Developer shall not be liable for any failures, delays, interruptions, or other circumstances relating to the operation of the payment service provider, the card-issuing bank, or the payment systems that are beyond the Developer's reasonable control.

3.5.2. If the payment has been successfully completed but, due to technical reasons, the reservation has not been created, the Developer shall, as soon as reasonably practicable, either restore the reservation or refund the Reservation Fee in accordance with the terms of this Offer.

3.5.3. The electronic payment confirmation shall constitute evidence of payment of the Reservation Fee unless proven otherwise.

CHAPTER 4. RIGHTS AND OBLIGATIONS OF THE PARTIES

4.1. Rights and Obligations of the Developer

4.1.1. The Developer shall:

  • provide the Customer with access to the online reservation service through the Website;
  • reserve the selected Property for twelve (12) days following successful confirmation of the Reservation Fee payment;
  • provide the Customer with an electronic reservation confirmation and all necessary information relating to the reservation;
  • process and protect the Customer's personal data in accordance with the applicable legislation of the Republic of Armenia.

4.1.2. The Developer shall have the right to:

  • verify the accuracy and completeness of the information provided by the Customer;
  • refuse or cancel a reservation if the Customer has provided false, inaccurate, or incomplete information;
  • refuse a reservation if the payment has not been successfully confirmed or where there are reasonable grounds to suspect fraudulent activity;
  • amend the terms of this Offer by publishing an updated version on the official Website.

 

4.2. Rights and Obligations of the Customer

4.2.1. The Customer shall have the right to:

  • obtain all information published on the Website regarding the Property, its purchase price, and the reservation terms and conditions;
  • receive electronic confirmation of the reservation and payment;
  • contact the Developer to obtain any information necessary for the execution of the relevant Agreement;
  • exercise any other rights granted under the applicable legislation of the Republic of Armenia.

4.2.2. The Customer shall:

  • provide accurate, complete, and up-to-date personal and contact information;
  • pay the Reservation Fee in accordance with this Offer;
  • cooperate with the Developer during the twelve (12) day Reservation Period for the purpose of executing the relevant Agreement;
  • refrain from any actions that may interfere with or disrupt the proper operation of the Website, the payment platform, or the Developer's information systems.

 

4.3. Processing of Personal Data

4.3.1. By accepting this Offer, the Customer expressly consents to the processing of their personal data by the Developer for the following purposes:

  • processing the online reservation;
  • recording and administering payments;
  • preparing and executing the relevant Agreement;
  • providing customer support and communications;
  • complying with the requirements of the applicable legislation of the Republic of Armenia.

4.3.2. The Developer may disclose the Customer's personal data only to those persons or entities whose involvement is necessary for the performance of this Offer, including payment service providers, servicing banks, information technology service providers, and competent public authorities where required by law.

 

4.4. Liability

4.4.1. The Parties shall be liable for the failure to perform or the improper performance of their obligations under this Offer in accordance with the applicable legislation of the Republic of Armenia.

4.4.2. The Developer shall not be liable for any loss or damage resulting from:

  • inaccurate, false, or incomplete information provided by the Customer;
  • interruption or failure of internet or communication services;
  • technical failures or interruptions affecting banks, payment service providers, or payment systems;
  • acts or omissions of third parties beyond the Developer's reasonable control; or
  • events of force majeure.

4.4.3. Except as otherwise required by the mandatory provisions of the applicable legislation of the Republic of Armenia, the Developer's aggregate liability arising out of or in connection with this Offer shall not exceed the amount of the Reservation Fee actually paid by the Customer.

4.4.4. Any matters not expressly governed by this Offer shall be governed by the applicable legislation of the Republic of Armenia.

CHAPTER 5. FINAL PROVISIONS

5.1. Effectiveness of the Offer

5.1.1. This Public Offer shall become effective upon its publication on the Developer's official Website and shall remain in force until amended or withdrawn by the Developer.

5.1.2. The Developer reserves the right to amend or supplement this Offer at any time by publishing an updated version on the Website.

5.1.3. The version of the Offer in effect at the time the Customer accepts it shall govern the respective online reservation.

 

5.2. Electronic Communications

5.2.1. The Customer acknowledges and agrees that all actions performed through the Website, including:

  • acceptance of this Offer;
  • completion of online forms;
  • payment of the Reservation Fee;
  • receipt of electronic confirmations and notifications,

shall have the same legal force and effect as documents executed in written form, to the extent permitted by the applicable legislation of the Republic of Armenia.

5.2.2. The Developer may send notices, confirmations, reminders, and other communications to the Customer by e-mail, SMS, telephone, or any other contact details provided by the Customer during the reservation process.

 

5.3. Governing Law and Dispute Resolution

5.3.1. This Offer shall be governed by and construed in accordance with the laws of the Republic of Armenia.

5.3.2. The Parties shall use their best efforts to resolve any dispute, controversy, or claim arising out of or in connection with this Offer through good-faith negotiations.

5.3.3. If the Parties fail to reach an amicable settlement, any dispute shall be submitted to the competent courts of the Republic of Armenia in accordance with the applicable legislation.

 

5.4. Severability

5.4.1. If any provision of this Offer is held to be invalid, illegal, or unenforceable by a court or other competent authority, such provision shall be deemed severed from this Offer, and the validity and enforceability of the remaining provisions shall not be affected.

5.4.2. Any matters not expressly regulated by this Offer shall be governed by the applicable legislation of the Republic of Armenia.

 

5.5. Developer Information

Developer: ARMCONSTRUCT LLC

Registered Address: BLD 17, Slavik Chiloyan str., Arabkir district, Yerevan, Republic of Armenia

Company Registration No.: 273.110.1049608

Taxpayer Identification Number (TIN): 02688892

Telephone: +374 44 001 060

E-mail: info@armconstruct.am

Official Website: www.armconstruct.am

 

5.6. Customer Acknowledgement and Acceptance

By checking the box "I have read and accept the terms of the Public Offer" and clicking the "Proceed to Payment" button, the Customer confirms and acknowledges that:

  • they have carefully read and fully understood this Public Offer;
  • they unconditionally accept all of its terms and conditions;
  • the information provided during the reservation process is true, accurate, complete, and up to date;
  • they consent to the processing of their personal data for the purposes set out in this Offer;
  • they agree to pay the applicable Reservation Fee;
  • they acknowledge that the selected Property shall be reserved for twelve (12) days following successful confirmation of payment;
  • they acknowledge that, if the relevant Agreement is executed, the Reservation Fee shall be credited toward the purchase price of the Property, unless otherwise agreed by the Parties;
  • they understand and accept the conditions governing the refund and non-refund of the Reservation Fee as set forth in this Offer; and
  • they acknowledge that acceptance of this Offer and successful payment of the Reservation Fee create legally binding rights and obligations between the Customer and the Developer in accordance with the terms of this Offer.

 

Last Updated: ____ / ____ / 20____

 

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