1.1 This Contract is subject to and conditional on the Seller replacing or repairing at their expense, by engaging licensed tradespeople, the following defects in the Property, no later than 5:00pm on the Business Day prior to Settlement:-
1.1.1 [insert details of repairs];
hereinafter described as “the Rectification Works”.
1.2 In the event that the Rectification Works are not completed to the full satisfaction of the Buyer no later than 5:00pm on the Business Day prior to Settlement, then the Buyer may by notice in writing prior to Settlement:-
1.2.1 terminate the Contract, in which case the Deposit shall be refunded to the Buyer in full; or
1.2.2 elect to complete the Contract, in which case the Buyer shall be entitled to withhold the sum of $[INSERT SUM] from the purchase price as compensation as neither party shall have any claim against the other following Settlement.