Accommodation Bond definition

Accommodation Bond means (subject to the provisions of Schedule 4) the amount payable in accordance with the provisions set out in Schedule 4 to the Provider by the Resident for entry into the Care Facility by the Resident;
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Accommodation Bond in relation to a person, means an amount of money that does not accrue daily and is paid or payable to an approved provider by the person for the person's * entry to a residential care service or flexible care service through which care is, or is to be, provided by the approved provider, and in respect of which the approved provider holds an allocation of * places.
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Examples of Accommodation Bond in a sentence

  • The maximum number of months of Retention Amount the Provider shall be entitled to keep from the Accommodation Bond is as follows: 13 full months from 20 September 2013 to 19 October 2014, plus the part month of 6 days from 20 October to 26 October 2014, a total of 14 full months retention.

  • The Provider guarantees that it has, throughout each year, enough insurance to cover losses arising from fraud, loss of earnings, fire, flood or other reasonably insurable events that may affect the ability of the Provider to refund Accommodation Bond Balances.

  • The Provider shall pay the amount of the balance of the Accommodation Bond within 14 days after the receipt of a copy of the Grant of Probate or Letters of Administration.

  • The Provider guarantees repayment of the Accommodation Bond Balance within the timeframes specified in the Act and detailed in full in Clause 9 of this Schedule.

  • I understand that I must be left with a minimum of $45,000 in assets after paying any Accommodation Bond.

  • The Resident or the Resident's Representative agrees upon these calculations being made that the Recalculated Accommodation Bond shall apply to the period during which the Resident is accommodated in the Care Facility where the provisions of clause 1.2 (a) apply or in the different Category of Accommodation where the provisions of clause 1.2 (b) apply and that the Resident shall pay the Recalculated Accommodation Bond to the Provider in respect of that period.

  • I understand how the tests operate to determine whether I have sufficient assets to pay the requested Accommodation Bond and I warrant to you that I have sufficient assets to be left with assets of at least I confirm that I understand that you will, therefore, charge me an Accommodation Bond Lump Sum of $ in accordance with the provisions of the Aged Care Act 1997 and the Principles made under that Act, which Accommodation Bond I shall pay in addition to all other fees and charges payable by me to you.

  • The total Accommodation Bond is the sum of the lump sum payment plus the outstanding Lump Sum Equivalent.

  • The maximum number of months of Retention Amount the Provider shall be entitled to keep from the Accommodation Bond is as follows: 12 full months from 30 September 2013 to 29 September 2014, plus the part month from 30 September 2014 to 3 October 2014, a total of 13 months full retention.