It is illegal for the lender to hold back funds from the developer.

Name: It is illegal for the lender to hold back funds from the developer.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

It depends on the terms of the loan agreement. In some cases, lenders may have the right to hold back a certain percentage of funds until certain milestones or conditions are met by the developer. However, if there is no such provision in the loan agreement, it would be illegal for the lender to withhold funds from the developer.

It Is Illegal for the Lender to Hold Back Funds