Common use of Charges and Fees Clause in Contracts

Charges and Fees. The Owner will pay to the Association the following charges and fees to cover the Association's costs of providing the Factoring Service: Management/admin fee (payable in arrears) Buildings Insurance premium (payable full year in advance) Public liability insurance covering common open spaces (payable full year in advance) Close cleaning (payable in arrears) Ground maintenance (payable in arrears) Common Repairs completed since previous invoice (payable in arrears) Communal electricity (payable in arrears) Any agreed outlays incurred by the Association on behalf of the Owner Such other properly incurred charges and fees as the Association may notify to the Owner from time to time. The management and/or admin fee payable by the Owner to the Association will be reviewed annually as at 1 April and notified to the Owner thereafter. Quotes, invoices and estimates from private contractors will be available at the Owner's request for the Owners to inspect within a period of 14 days following the issue of the relative invoice, consultation or notification letters being issued to private owners. The Association reserves the right to charge a fee for any copy documentation requested by or on behalf of the Owner. Factoring Float Upon commencement of the Factoring Service, the Owner requires to pay to the Association a factoring float of One hundred and fifty pounds (£150) Sterling, or such other amount as may be stated in the Owner's title deeds. The factoring float will be held by the Association for the purpose of having funds available to meet the cost of Common Repairs on behalf of the Common Owners prior to recovering any outlays through the Association's accounts. The full amount of the factoring float will be included in the Association's first invoice to the Owner for the Factoring Service. The Association will refund the factoring float to the Owner upon termination of this Factoring Agreement.