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Latest posts...
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Earthquake Rocks Bangkok: Building Collapses with 40 people inside
Good to see this load bearing pillar has been fixed, residents no longer have to worry 😆, the cover ups have started- 1
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Quake Jolts Thai Tourism: Rising Concerns Over Safety
No it was a top - down brown envelope card game from ministry to builders, to turn a blind eye on safety standards, like it always the same in THL, if you give me this, you will get that, i will tell them this, but we all know the truth is that. The source is the top of the piramide, they benefit most, but are exposed least. Important technical structural reports have already 'vanished', unfindable. -
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What triggers 90 day report?
OK, but if you lose your phone and someone nicks your fridge you are buggered! 555 -
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What triggers 90 day report?
Why, it's self explanatory if you read the available information and forms you complete. A visa validity is the period during which you can enter Thailand. On entry you are granted temporary permission of stay as noted on the stamp. "Admitted until (date)", which is limited depending on the method of entry. You can then extend that period of stay. TM7 form clearly states "Application for extension of temporary stay in the Kingdom" - so you're applying to extend the period of stay previously granted. On applying to extend your period of stay you'll be asked to complete and sign a number of forms, mainly the terms and conditions of the overstay rules, and form STM2 which is titled "Acknowledgement of terms and conditions for permit of temporary stay in the Kingdom of Thailand" The final clause states; I do hereby acknowledge the terms and conditions of this permit ................ The stamp is a permit granting temporary permission of stay. "Extension of stay permitted up to (date)". -
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Unsafe Condos In Bangkok?
Some potential issues may arise as this unfolds: Has the juristic entity updated the sums insured for the insurance covering the condo building and other community property to account for inflation? If not, then what's called an "average penalty" or "coinsurance penalty" may be applied to partial losses. For example, if a building was insured for its original construction cost 10 years ago for 8 million baht, but the actual cost to replace it today would be 10 million baht, any partial loss would only be paid at 80% of the cost incurred to repair. In other words, for a cost to repair quake damage that a contractor charges 1 million baht to fix, the insured would only collect 800,000 in claims proceeds. For a total loss, the insurer would pay policy limits, but these would would still be only 80% of the cost to replace. Some policies may grant some leeway on this, perhaps up to 20%, but many don't. If it is uneconomical to repair a building due to the nature and extent of the damage, the insurer may simply state that the building is a constructive total loss, in which case the insurer could pay the policy limits. Now the juristic entity and the unit owners face a dilemma. It may take many years to replace a large condo complex and some owners may simply want to collect insurance proceeds and walk away. Unfortunately, the replacement value of the building, which was used as the sum insured, will likely only be a fraction of the market value of all the units. Even if all unit owners agreed to abandon reconstruction and the juristic entity could distribute the insurance proceeds, they'd likely only get a fraction of what they paid for their units. I am not aware of any property insurance policy that will pay the difference between replacement value and market value for condo units, or anything else for that matter. Homeowners' insurance certainly won't. Let's hope sums insured have been updated and that all damages are superficial so that none of the buildings need to be declared a constructive total loss.
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