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Bond Claims Sample Clauses

Bond Claims. Any notice of claim on a payment or performance bond or public works bond shall comply with the requirements of ORS 279C.605.
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Bond Claims. When a tenant signs a tenancy agreement, they are required to pay a bond. The bond is the tenant’s money and exists for the purpose of repairing damage to the property or professional cleaning required once the tenancy has ended. The amount of bond is typically the equivalent of four weeks’ rent. It is not held by the landlord or the Real Estate Agency in the trust account but with the Office of Rental Bonds. The rules surrounding tenancy bonds can be found in the Residential Tenancies Xxx 0000, part 3. xxxx://xxx.xxxxxxxxxxx.xxx.xxx.xx/x/0000-00/xxxxxxx/xxx/0000-00.xxx What you don’t want is for a property to be misused or mistreated in any way and then be responsible for footing the xxxx because you haven’t ensured that a bond has been taken, you haven’t completed the right paperwork, and the owner would have every right to take legal action against you as the agent or you as the property manager to recover those fees. A lessor may only require or accept as a bond an amount of not more than the first four weeks of rent payable under the residential tenancy Agreement. You can’t accept more than four weeks. It’s generally good practise to take that full amount but you can accept less if need be. Steps the Landlord is required to take in order to claim against the bond for repairs or cleaning of a property following a termination of a lease would be they will first need to complete a condition report at the end of the tenancy. If the tenant agrees to the details within stipulating the need for a bond claim, you as the property manager need to fill out a claim form and lodge it with the Office of Regulatory Services via Access Canberra. The amount can be split between tenants and agency if need be. It is best if the tenant agrees with the claim and signs the form as well. That way the bond can be paid without delay. If this isn’t possible, you should lodge the form without the tenant’s signature as soon as possible with the Office of Rental Bonds and send evidence of the claim to both the board and the tenant. It is then up to the board to decide on what action needs to be taken.
Sample 1
Bond Claims. Under the Residential Tenancies Act 2010, when a Landlord wishes to make a bond claim you cannot do so for any old reason, as much as some Landlords would love to. The process is basically: the Tenant vacates, the Agent carries out the exit inspection, and then at that inspection there may be some cleaning or some damages or some items that need to be taken care of that are the Tenant’s responsibility. The Tenant can agree for those items to be paid for out of the bond, or they may dispute them. Once the exit inspection has been conducted, you have carried out the cleaning or repairs, or you have quotes for the work required, you can then make a claim on the residential bond through Rental Bonds Online, or by submitting paper documentation to the Bond Board through NSW Fair Trading. The Tenant can choose to agree to that, or they can dispute it. It’s very simple for them to dispute it; they just don’t sign the form and it goes to the Bond Board which issues a notice to the Tenant saying, “Are you happy for this claim to go ahead, or would you like to take actions or steps to go ahead and dispute?” Then at that point they can take the Tribunal path. Agents can easily log on to Rental Bonds Online, view all of your bonds, confirm that there are bonds being held on properties, look at bond numbers and make sure that bonds are held or paid out. Especially when you’re going through at the end of the month and you want to make sure that all the bonds are paid out or all the bonds were received, you can log on and do a quick bond audit. All parties involved also need to know the difference between what we call ‘fair wear and tear’ and ‘accidental dam- age’. Fair wear and tear is best described as damage which has accumulated over time, such as marks on carpets caused by foot traffic, or weather damage where outside furniture was placed. Fair wear and tear is not subject to bond claims. Accidental damage is best described as damage being caused by a sudden and unexpected event. This might in- clude spilling red wine on the carpet or the breaking of a window. Accidental damage can be subject to bond claims.
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Related to Bond Claims

  • Tax Claims Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event or proceeding in respect of Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and warranties in Section 3.22 hereof or any breach or violation of or failure to fully perform any covenant, agreement, undertaking or obligation in Article VI) shall be governed exclusively by Article VI hereof.

  • Litigation and Claims No litigation, claim, investigation, administrative proceeding or similar action (including those for unpaid taxes) against Borrower is pending or threatened, and no other event has occurred which may materially adversely affect Borrower’s financial condition or properties, other than litigation, claims, or other events, if any, that have been disclosed to and acknowledged by Lender in writing.

  • Covered Claims Claim" means any claim, dispute or controversy between you and us that in any way arises from or relates to this Agreement, the Account, the issuance of any Card, any rewards program, any prior agreement or account. "Claim" includes disputes arising from actions or omissions prior to the date any Card was issued to you, including the advertising related to, application for or approval of the Account. "Claim" has the broadest possible meaning, and includes initial claims, counterclaims, cross-claims and third-party claims. It includes disputes based upon contract, tort, consumer rights, fraud and other intentional torts, constitution, statute, regulation, ordinance, common law and equity (including any claim for injunctive or declaratory relief). "Claim" does not include disputes about the validity, enforceability, coverage or scope of this Arbitration Provision or any part thereof (including, without limitation, the prohibition against class proceedings, private attorney general proceedings and/or multiple party proceedings described in Paragraph C.7 (the "Class Action Waiver"), the last sentence of Paragraph

  • No Actions, Claims, Etc As of the date hereof, each of the Loan Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement on or prior to the date hereof.

  • Insured Claims To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Company; or

  • Litigation; Claims Any rights (including indemnification) and claims and recoveries under litigation of Seller against third parties arising out of or relating to events prior to the Closing Date;

  • Product Liability Claims As soon as it becomes aware, each party will give the other prompt written notice of any defect or alleged defect in a Product, any injury alleged to have occurred as a result of the use or application of a Product, and any circumstances that may give rise to litigation or recall of a Product or regulatory action that may affect the sale or manufacture of a Product, specifying, to the extent the party has such information, the time, place and circumstances thereof and the names and addresses of the persons involved. Each party will also furnish promptly to the other copies of all papers received in respect of any claim, action or suit arising out of such alleged defect, injury or regulatory action.

  • Indemnification for Certain Claims The Party providing services hereunder, its affiliates and its parent company, shall be indemnified, defended and held harmless by the Party receiving services hereunder against any claim, loss or damage arising from the receiving company’s use of the services provided under this Agreement pertaining to (1) claims for libel, slander or invasion of privacy arising from the content of the receiving company’s own communications, or (2) any claim, loss or damage claimed by the End User of the Party receiving services arising from such company’s use or reliance on the providing company’s services, actions, duties, or obligations arising out of this Agreement.

  • Warranty Claims This Contractual Warranty is provided by Xxxxxxxxx Electric and covers defects in workmanship and materials in your Product. This warranty period lasts from the date of purchase at the point of sale to you, the original end user, unless otherwise agreed in writing (the "Warranty Period"). This Contractual Warranty is transferable to subsequent owners but only for the unexpired portion of the Warranty Period.

  • Disputed Claims 4.1 Notwithstanding paragraph 4.5 of this Schedule, payment by the Authority of all or any part of any invoice rendered or other claim for payment by the Contractor shall not signify approval of such invoice/claim. The Authority reserves the right to verify invoices/claims after the date of payment and subsequently to recover any sums which have been overpaid. 4.2 If any part of a claim rendered by the Contractor is disputed or subject to question by the Authority either before or after payment then the Authority may call for the Contractor to provide such further documentary and oral evidence as it may reasonably require to verify its liability to pay the amount which is disputed or subject to question and the Contractor shall promptly provide such evidence in a form satisfactory to the Authority. 4.3 If any part of a claim rendered by the Contractor is disputed or subject to question by the Authority, the Authority shall not withhold payment of the remainder. 4.4 If any invoice rendered by the Contractor is paid but any part of it is disputed or subject to question by the Authority and such part is subsequently agreed or determined not to have been properly payable then the Contractor shall forthwith repay such part to the Authority. 4.5 The Authority shall be entitled to deduct from sums due to the Contractor by way of set-off any amounts owed to it or which are in dispute or subject to question either in respect of the invoice for which payment is being made or any previous invoice.

Most Referenced Clauses

Most Referenced Definitions