Commentary

103 Commonhold community statement Part 4: payment and interest on arrears

COMMONHOLD vol 8(1)
| Commentary

103 Commonhold community statement Part 4: payment and interest on arrears

| Commentary

103 Commonhold community statement Part 4: payment and interest on arrears

Unit-holders are required to make payments of commonhold assessment or reserve fund levy by the date specified in the notice requiring payment. Payment may not be required within 14 days of the date when the notice is given1.

If payment is not made by the due date, the unpaid amount carries interest from the due date until the date of payment2. The rate of interest is contained in Annex 4 paragraph 1 of the model form of commonhold community statement. If no rate is contained

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