Custodial Scheme. The Deposit will be held by the Deposit Protection Service (‘DPS’).
Custodial Scheme. The Deposit Protection Service (DPS)
Custodial Scheme. 6 Upon the signing of this Agreement the Tenant shall pay to the Landlord’s Agent £ by way of a deposit (“the Deposit”) which shall be transferred in to the (Deposit Protection Service) Custodial Scheme within 14 days of receipt and the Landlord shall give to the tenant details of the Custodial Scheme under which the deposit is being held (prescribed information).
Custodial Scheme. This requires the landlord to pay the deposit to the scheme, which then holds the tenant’s deposit and keeps it during the lifetime of the tenancy or use one of the Insured schemes. The custodial scheme makes no charge to the landlord, and it is expected to fund itself through the interest it earns on the deposits it holds. At the end of the tenancy the custodial scheme will return the deposit to the parties in accordance with their agreement. In the event there is no such agreement the scheme will adjudicate on any proposed deductions by the landlord and will pay the deposit to the parties in accordance with the adjudication. The landlord understands that by signing this agreement that Streets Estates Ltd will place the deposit money in their chosen custodial scheme. If the Landlord then chooses to use their own custodial scheme or an Insured scheme, they accept full liability for the administration of this scheme. Furthermore The Landlord understands that if they breach in any way the conditions relating to this scheme, this can affects the insurance we provide. In this instance The Landlord understands that Streets Estates Ltd will not be held legally liable.
Custodial Scheme. ‘The Deposit Holder’ is the Deposit Protection Service (‘DPS’)—one of the organisations authorised to register Deposits under the Housing Act 2004. Insured Scheme: ‘The Deposit Holder’ is the person, firm, or company who holds the Deposit and is a member of The Deposit Protection Service (‘DPS’)—one of the organisations authorised to register Deposits under the Housing Act 2004.
