Strata Scheme Management Agency Agreement - AUNSWREPM019

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BLACK = Old Item/Clause  | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted

 

15 Oct 2018 v4.8

Additions / Changes:

 

All instances of 'fax' removed.

 

All instances of 'PSBAA' changed to 'Act".

 

Clause 1.1(1)

Act: the Strata Schemes Management Act 2015 and Regulations Property, Stock and Business Agents Act 2002 and Regulations thereto as amended from time to time.

 

Clause 1.1(12)

PSBAA: the Property, Stock and Business Agent’s Act 2002 and Regulations.

 

Clause 4.1

In consideration of and in accordance with the terms of this Agreement, the Principal appoints the Agent (and its permitted Assigns), for the duration of this Agreement to act as the Strata Managing Agent for the Strata Scheme and the Agent agrees. Authority vested in the Agent by this Agreement shall be deemed to be vested in the Agent’s authorised employees.

 

Clause 4.2

Authority vested in the Agent by this Agreement shall be deemed to be vested in the Agent’s authorised employees.

 

Clause 4.2

When delegating authority to authorised employees the Agent (licensee) in charge of the business, must properly supervise such person/s in accordance with the guidelines issued by the Commissioner for Fair Trading.

 

Clause 4.3

In carrying out the duties and services specified in this Agreement the Agent is authorised to utilise the services of any suitable person or company, provided however where required under the Act such duties or services must be carried out by a licensed person.

 

Clause 4.4

The Agent (licensee) in charge of the business must properly supervise, in accordance with the guidelines issued by the Commissioner for Fair Trading, all persons (employee or otherwise) engaged in the business carried on by the Agent.

 

Clause 10

The Agent having complied with its obligations under this Agreement and not having been negligent, the Principal indemnifies the Agent, its officers and employees, from and against all actions, claims, demands, losses, costs (including legal costs on a solicitor/client indemnity basis together with any professional indemnity excess), damages and expenses arising out of this Agreement (except in relation to breaches arising due to the application of section 57 of the Strata Schemes Management Act 2015 Act) in respect of:

 

Clause 14.1

Either The party parties may terminate this Agreement at any time with mutual consent.

 

Clause 14.2

Otherwise than as provided in Clause 14.1 termination of this Agreement must be in compliance with section 50(3) of the Strata Schemes Management Act 2015 Act.

 

Clause 14.6

The Agreement is terminated on the appointment of a strata managing agent or managing agent under section 237 of the Strata Schemes Management Act 2015 Act or section 85 of the Community Land Management Act 1989 to exercise or perform all the functions of the Owner’s Corporation, association or strata corporation.

 

Clause 19.1

The parties agree and confirm any documents and communications in relation to this Agreement may be forwarded electronically and where this Agreement document has been forwarded electronically (either for signing or otherwise) the party receiving the Agreement document confirms having consented to the delivery of the Agreement document (and any other materials) by way of the electronic means of delivery before receiving the documentation.

 

Clause 19.8

The parties agree and consent to execution, by any party, delivery and service of documents electronically using by a method provided by DocuSign or such other agreed an electronic signing signature service provider.

 

19 Feb 2018 v4.7

Additions / Changes:

 

Item 12

Issue Period: ………………………………………………………………………………………………

__

Principal

Issue By:  __ Post  __ Email

__

Other

Name: ……………………………………………………………………………………

Address/Email: …………………………………………………………………………

 

Item 12

Issue Period: ………………………………………………………………………………………………

__

Principal

Method to send by:  __ Post  __ Email  __ Fax

__

Other

Name: ……………………………………………………………………………………

Address: …………………………………………………………………………………

Phone: (…)………………………… Fax: (…)…………………………

 

Item 16

By signing below the parties acknowledge and confirm having read and understood this Agreement.

 

 

 

Common Seal of the Owners Corporation

 

 

 

 

 

(affixed in accordance with authorised resolution of the Owners Corporation)

  Strata Plan Number: ………………………………………


Owners Corporation Authorised Signatories


 

 

 

 

 

 

 

 

 

Agent Signature:                                    Witness Signature:                                  Agreement Dated:

…………………………………..                …………………………………..                  …… / …… / ……

 

ACKNOWLEDGEMENT

The Principal acknowledges receiving a copy of this Agreement within 48 hours of being signed by the Principal:

 

Principal’s Authorised Signatory:  …………………………………….……………………    Date: …… / …… / ……

 

Clause 1.1(13)

Related Document: means any written communication (including Notices), with regard to this matter, between the parties, including any Electronic Documents served via email.

 

Clause 2

By signing this Agreement the Principal(s) warrants and confirms:

(1)

it is the owner of the Property

(2)

it has read this Agreement

(2)

it has authority, by resolution of the Owner’s Corporation, to enter into this Agreement

(3)

it has disclosed to the Agent in writing all Material Facts and has not made any statement known to be false, misleading or deceptive.


 

Clause 19

Related Documents / Notices / Electronic Communication

19.1

The parties agree and confirm any documents and communications in relation to this Agreement may be forwarded electronically in accordance with this clause and where this document has been forwarded electronically (either for signing or otherwise) the party receiving the document confirms having consented to the delivery of the document (and any other materials) by way of the electronic means of delivery before receiving the documentation.

19.2

Any Related Document, including this Agreement, to be served on any party under this Agreement shall be in writing and may be served on that party:


(1)

by delivering it to the party personally; or


(2)

by leaving it for the party at that party’s address as stated in this Agreement; or


(3)

by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in this Agreement; or


(4)

by as an electronic communication by via facsimile transmission, email or SMS text message to the party at the appropriate email electronic address as stated in this Agreement; or


(5)

by delivery to an alternative address, provided in writing by the party, by any of the methods outlined in Clauses 19.2(1) to (4) above.

19.3

A Related document posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the Related document would be delivered.

19.4

A Related document sent by electronic communication will be deemed to have been received in accordance with section 13A of the Electronic Transactions Act 2000 (NSW).

19.5

Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.

19.6

Related Documents must be served before 5pm on a business day, failing which, such Related document will be deemed to have been served on the next business day.

19.7

The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.

19.8

The parties agree to execution, delivery and service of Related documents electronically by a method provided by DocuSign or such other agreed electronic signature service provider.

 

31 Jan 2017 v4.6

Additions / Changes:

 

Item 3

TERM OF APPOINTMENT AGREEMENT

This Agreement is effective from ...... / ...... / ...... and:

(tick only one)

__

expires at the end of the period of 12 months following the appointment iIf the appointment is made by the owner’s corporation at the first annual general meeting is for a term period of 12 months, otherwise

__

otherwise is for a period term of …….. <months/years> or if no term is entered will expire at the end of the period of 3 years following the appointment, and

Note: The term of appointment may not exceed 3 years.

In either any case may be terminated in accordance with this Agreement.

 

Note: An appointment for 3 years may be extended by the strata committee for successive periods of up to 3 months pending a decision at the next annual general meeting as to the reappointment of the strata managing agent (section 50(4)).

 

Item 15

LOOSE-FILL ASBESTOS INSULATION QUESTIONNAIRE

Principal note: Properties constructed before 1980 may contain loose-fill asbestos insulation.

__

Residential Premises Loose-fill Asbestos Insulation Questionnaire has been completed by the Principal Manager – Owner’s Corporation and given to the Agent prior to signing this agreement.

Prior to signing this Agreement the  Principal Manager – Owner’s Corporation has completed and provided to the Agent a Residential Premises Loose-fill Asbestos Insulation Questionnaire.    __ Yes __ No

 

Clause 1.1(6)

Item: an Item in the attached Item Schedule forming part of this Agreement

 

Clause 5.3

The Agent will hold a strata managing agents licence under the PSBAA and be responsible for ensuring all persons engaged by the Agent to perform functions in respect of this Agreement hold, where required, appropriate licenses and comply with relevant legislation and regulations.

 

Clause 14.2

Subject to Clause 14.1 termination of the term of this Agreement will be in accordance with section 50 of the Act.

Otherwise than as provided in Clause 14.1 termination of this Agreement must be in compliance with section 50(3) of the Act.

 

Clause 14.4

The Principal may terminate this Agreement should the Agent cease to be a licensed Strata Managing Agent under the PSBAA.

 

Clause 14.9

Should the Agent cease to be a licensed strata managing agent under the PSBAA this agreement will come to an end.

 

30 Nov 2016 v4.5

Additions / Changes:

 

Item 1

PRINCIPAL / (OWNER’S CORPORATION)

Strata Plan No.: ……………………………………

Name/s:   ……………………………………………..……………………..………………………………………

Business Name:   ……………………………………….………………………………………………………….

Address:   ……………………………………………………..…………………………. ACN:   …………..……

               ………………………………………………………………………………... ABN:   …………..……

Phone:      (…).…….…….………………    Fax: (…)…….…………..…….……    Mobile: ……..……………

Email:       ……………………………………………………………………… GST Registered: __ Yes __ No

 

Item 2

AGENT *(Where the Agent trades as a corporation, include the corporation’s licence number)

Name:       …..………………………………………..……………………..………………………………………

Address:   ……………………………………………………..…………………………. ACN:   …………..……

               ………………………………………………………………………………... ABN:   …………..……

Phone:      (…).…….…….………………    Fax: (…)…….…………..…….……    Mobile: ……..……………

Email:       ……………………………………………………………………………………………………………

Licencse No. Number/s*:  ……………………………………………………. GST Registered: __ Yes __ No

 

Item 3

STRATA SCHEME

Address: .......................................................................................................................................

            .......................................................................................................................................

 

Item 3

TERM OF AGREEMENT

This Agreement is effective from …… / …… / …… and:

(tick only one)

__

If the appointment is made by the owner’s corporation at the first annual general meeting is for a period of 12 months,

__

otherwise is for a period of 3 years, and

In either case may be terminated in accordance with this Agreement.

 

Note: An appointment for 3 years may be extended by the strata committee for successive periods of up to 3 months pending a decision at the next annual general meeting as to the reappointment of the strata managing agent (section 50(4)).

 

__   can be terminated by either party at anytime providing that not less than ............... days written notice       is given

__   is for a fixed term of ___________________ which term will continue, unless terminated on expiration,       on a month-to-month basis terminable by not less than 90 days written notice by either party.

__  ends at the close of the next annual general meeting of the Principal

 

Termination will be without prejudice to the rights of either party.

 

Item 4

AGENT’S DUTIES (PSBA Regulations Schedule 6 Clause 6)   (If insufficient space attach an annexure)

Subject to the limitations, if any, set out below the Principal delegates to the Agent the following Management and Administration duties:

 

Authority Delegated

Limitations

(insert details where authority is delegated, if left blank no limitations apply)

Undertaking the financial management of funds and books of account.

Yes/No

Maximum Pre-approved expenditure is limited to $………………………………....

Holding documents and maintaining records relating to the scheme (for example, the strata roll, notices, and minutes of meeting).

Yes/No

 

Arranging building inspections and reports.

Yes/No

 

Effect repairs to and maintaining common property or engaging appropriately qualified tradespersons to do so and detailing limitations on expenditure that may be incurred by the agent without obtaining the approval of the person on behalf of whom the agent is acting.

Yes/No

 

Paying disbursements and expenses incurred in connection with the agent’s management of the scheme.

Yes/No

 

Arranging insurance cover for the scheme.

Yes/No

 

Serving notices to comply with a by-law.

Yes/No

 

Managing the sinking fund and the administrative fund.

Yes/No

 

Undertaking steps necessary to recover any money owing in relation to levies.

Yes/No

 

Representing the owners corporation or association in tribunal or court proceedings.

Yes/No

 

Paying accounts in relation to the scheme (for example, accounts for water charges, council rates and maintenance).

Yes/No

 

Arranging and undertaking administrative duties in relation to annual general meetings and any other general meetings.

Yes/No

 

 

Item 5

APPOINTMENT OF AGENT

The Principal delegates to the Agent, as Managing Agent, all the functions of:

(1)

__

The Chairperson, Secretary and Treasurer.

 

__

The Chairperson, Secretary and Treasurer.

 

__

The Owners Corporation (except as excluded by Section 28.3 of the Strata Schemes Management Act 1996).

 

OR

 

(2)

__

The functions shall be limited to those set out hereunder:

(a)

Functions of the Chairperson of an Owner’s Corporation

 

__

Chair the meetings of the executive committee.

(b)

Functions of the Secretary of an Owner’s Corporation (s 22):


__

Prepare, distribute and move confirmation of minutes of meetings.


__

Give notices required under the Act.


__

Maintain strata roll.


__

Answer communication addressed to Owner’s Corporation.


__

Convene meetings of the Executive Committee.


__

Attend to matters of an administrative or secretarial nature in connection with the exercise, by the Owner’s Corporation or the Executive Committee, of its functions.


__

Enable inspection of documents (s 108).


__

Arrange & attend building inspections and prepare reports.


__

Arrange and undertake administrative duties in relation to annual general meeting and any other general meetings.


__

Attend to matters of this nature.

(c)

Functions of the Treasurer of an Owner’s Corporation (s23)


__

To notify owners of any contributions levied in accordance with this Act.


__

To receive, acknowledge, bank and account for any money paid to the Owner’s Corporation.


__

To prepare any certificate applied for under Division 4, Chapter 3, Part 5, of the Act.


__

To keep the accounting records and prepare the financial statements.

(d)

Owners Corporation Management Areas (s61):


__

Management, control, maintenance and repairs of common property to a Maximum Pre-approved Maintenance Expenditure not greater than ...........................................................................


__

Manage finances of the strata scheme (Chapter 3, Part 3 of the Act).


__

Take out, maintain & renew insurance of the strata scheme (Chapter 3, Part 4 of the Act).


__

Keep accounts and records for the strata scheme (Chapter 3, Part 5 of the Act).


__

Enter into authorised agreements for provision of amenities (s 111).

(e)

Additional Management Schedule


__

To submit claims in relation to insurance.


__

To facilitate maintenance and repairs in accordance with Chapter 3, Part 2 of the Act.


__

Collect contributions and other monies due and payable to the Principal.


__

Pay accounts and outgoings and to disburse monies in accordance with the Act.


__

Deduct from monies received, Fees set out in Item (6).


__

Provide so far as is reasonably necessary general advice and assistance to the Owner’s Corporation and Committee members.


__

Carry out reasonable direction of the Owner’s Corporation and its Committee.


__

Maintain and affix the common seal in accordance with authority delegated by the Principal.


__

Attend the annual general meeting and other general  meetings.


__

Prepare and distribute (if applicable) the statutory budgets (subject only to advice from suitably qualified personnel obtained at the expense of the Owner’s Corporation).


__

Represent the Principal in any tribunal or court proceedings in respect of the Strata Scheme.

(3)  Other authorisations/limitations

..........................................................................................................................

 

Item 5

AGENT’S FEE FOR MANAGEMENT AND ADMINISTRATION SERVICES

(If additional information is required attach an annexure)

Fees payable to Agent for services (enter details of fee hourly rate)

Service Provider

Hourly Rate

Strata Managing Agent - Business hours Mon-Fri (specify): …….AM to ……. PM

.....................

                                 - Non Business Hours Mon-Fri

.....................

                                 - Weekend and Public Holidays

.....................

Strata Manager            - Business hours Mon-Fri (specify): ……. AM to ……. PM

.....................

                                 - Non Business Hours Mon-Fri

.....................

                                 - Weekend and Public Holidays

.....................

Administrative Staff      - Business hours Mon-Fri (specify): ……. AM to ……. PM

.....................

                                 - Non Business Hours Mon-Fri

.....................

                                 - Weekend and Public Holidays

.....................

Accounting Staff          - Business hours Mon-Fri (specify): ……. AM to ……. PM

.....................

                                 - Non Business Hours Mon-Fri

.....................

                                 - Weekend and Public Holidays

.....................

Other:                         ...................................................................................

.....................

                                 ...................................................................................

.....................

                                 ...................................................................................

.....................

                                 ...................................................................................

.....................

                                 ...................................................................................

.....................

 

Item 6

FEES FOR SERVICES & EXPENSES

A fee may be expressed as either: a) Fee + GST = GST inclusive Fee   or   b) single GST inclusive figure

Fees payable to Agent for Services and Expenses: [Enter details of Fees]

Description of Fees & Expenses

Fee (GST Inclusive)

Due and Payable

Management Fee

 

 

Preparation fee for any application to the registrar (hourly rate)

 

 

Minimum attendance fee for any adjudication, court or Strata Schemes Board matter

 

 

The preparation and lodgment of insurance claims  (hourly rate)

 

 

Attending non-specified meetings (per meeting)

 

 

For the Preparation and supply of information (S 108) and certificates under 109 of the Act.

 

 

Preparation and lodgment of any tax or other returns (hourly rate)

 

 

All out of pocket expenses incurred when executing the authorised functions (e.g. phone & fax calls, stamp duty, printing, postage, etc) (at cost)

 

 

Attending to title requisitions, preparation of statutory declarations, certificates or affidavits.(To be paid by requesting party) (hourly rate)

 

 

Maximum fee for preparation and arrangement of repairs and/or renovations

 

 

Audit and accountancy fee (hourly rate)

 

 

 

 

 

 

 

 

 

Item 6

MANAGEMENT AND ADMINISTRATION SERVICES FEE REVIEW

Review Date: …………………..

Annual Fee Increase:  __ by: ………%     OR      __ in accordance with CPI (see Clause 11.4)

 

Item 9

9.1 Insurance (List all insurance policies for Property)



To Pay

Insurer/Detail

Policy Number

Expiry

(1)

……………………..

__

……………………………………

……………..

.…/…./..

(2)

……………………..

__

……………………………………

……………..

.…/…./..

(3)

……………………..

__

……………………………………

……………..

…/…./..

(4)

……………………..

__

……………………………………

……………..

…/…./..

(5)

……………………..

__

……………………………………

……………..

…/…./..

(6)

……………………..

__

……………………………………

……………..

…/…./..

 


 

 


 

9.2

Caretaking/Maintenance

 

(1)

Gardening                    

__

………………………………………………………………

(2)

Pool

__

………………………………………………………………

(3)

Pest                                

__

………………………………………………………………

(4)

Cleaner

__

………………………………………………………………

(5)

Repairs and Maintenance

__

………………………………………………………………

(6)

Other:………………

__

………………………………………………………………

 


 

 

9.3

Rates/Utilities

 

 

(1)

Council

__

………………………………………………………………

(2)

Electricity

__

………………………………………………………………

(3)

Lighting and/or Heating

__

………………………………………………………………

(4)

Water and/or Sewerage

__

………………………………………………………………

(5)

Other: ………………….

__

………………………………………………………………


 

 


9.4

 Strata Levies

 


(1)

…………………………

__

………………………………………………………………

(2)

…………………………

__

………………………………………………………………

(3)

…………………………

__

………………………………………………………………

9.5

Administration Charges

__

Disbursements including photocopying , postage, stationery, bank charges, telephone calls, computer services, general out of pocket expenses

8.5

Additional Payments (incl. GST):

………………………………………………………………………………............................

 

Item 13

ADDITIONAL INSTRUCTIONS

....................................................................................................................................

 

Item 14

SPECIAL CONDITIONS

The Special Conditions are inserted under instruction from a party to this Agreement and, where not prepared by that party, were prepared by an Australian Legal Practitioner and not the Agent. No warranty is given by the Agent. Legal advice should be sought.

....................................................................................................................................

 

Item 16

 

 

 

Common Seal of the Owners Corporation

 

 

 

 

 

(affixed in accordance with authorised resolution of the Owners Corporation)

  Strata Plan Number: ………………………………………


Owners Corporation Authorised Signatories


 

 

 

 

 

 

 

 

 

Agent Signature:                                    Witness Signature:                                  Agreement Dated:

…………………………………..                …………………………………..                  …… / …… / ……

PS&BA Act Section 55 (1) (c) – a copy of this Agreement signed by the Agent must be served on the Principal/Owner’s Corporation within 48 hours after signing by the Principal/Owner’s Corporation.

 

ACKNOWLEDGEMENT

The Principal acknowledges receiving a copy of this Agreement within 48 hours of being signed by the Principal:

 

Principal’s Authorised Signatory:  …………………………………….……………………    Date: …… / …… / ……

 

Clause 1.1(1)

Act: the Strata Schemes Management Act 2015 and Regulations as amended.

 

Clause 1.1(2)

Agreement: this Strata Scheme Management Agency Agreement (Item Schedule and Terms of Agreement and any additional schedules that may be attached).

Agreement: this Agency Agreement, consisting of:

(a)

the Item Schedule – Strata Scheme  Management Agency Agreement; and

(b)

the Terms of Agreement; and

(c)

any additional annexures, schedules or documents that may be attached.

 

Clause 1.1(3)

Business Hours: means the hours between 9am and 5pm Monday to Friday or such other times as the parties may agree.

 

Clause 1.1(4)

Electronic Document: means any electronic communication (including Notices) as defined in the Electronic Transactions Act 2000 (NSW) including any electronically generated document situated on an external server readily accessible via a link within an electronic communication or other electronically generated document.

 

Clause 1.1(7)

Management Fee: monies paid to the Agent as detailed in Item (6) for carrying out services listed in Item (5).

 

Clause 1.1(9)

Material Fact: A Material Fact has, where used in this Agreement, has the meaning as given to it by used in section 52 of the PSBAA and including all relevant information about LFAI affecting the Property.

 

Clause 1.1(10)

Principal: the owners corporation as outlined in Chapter 2 (Management of strata schemes) of the Strata Schemes Management Act 2015.

 

Clause 1.1(11)

Property: the land and improvements thereon forming the strata scheme the subject of this Agreement (as described in Item 1).

 

Clause 1.1(13)

Related Document: means any written communication (including Notices), with regard to this matter, between the parties including any Electronic Documents.

 

Clause 4.2

When delegating authority to authorised employees the Agent (licensee) in charge of the business, must properly supervise such person/s in accordance with the guidelines issued by the Commissioner for Fair Trading.

 

Clause 5.1

(1)

The Principal authorises the Agent to initiate and pay for maintenance and repairs with respect to property comprising the Strata Scheme, enlisting qualified tradespersons where required without first seeking permission from the Principal up to the Maximum Pre-approved Maintenance Expenditure stated in Item (5(2)(d)). The Agent will obtain the Principal’s written approval before ordering maintenance and repairs if the cost is more than the Maximum Pre-approved Maintenance Expenditure, provided in emergency circumstances, the Agent is authorised to immediately initiate repairs which may be in excess of the authorised amount.

The Agent’s authority to effect maintenance and repairs as provided in Item 4 excludes work of a structural nature unless explicitly authorised and directed in writing by the Principal.

(2)

The Agent will obtain the Principal’s written approval before ordering maintenance or repairs if the cost of the maintenance or repairs to common property is more than the maximum pre-approved  expenditure (see Item 4), provided however in emergency circumstances, the Agent is authorised to immediately initiate maintenance or repairs which may be in excess of the authorised amount.

(3)

All maintenance and repairs will (where appropriate) be ordered from those persons detailed in Item 11 of the Item Schedule.  The Agent will ensure compliance with all existing property maintenance contracts as set out in Item 10.

 

Clause 5.5

The Agent is authorised to deduct from monies received by the Agent on behalf of the Principal all Fees and other authorised outlays (including expenses incurred when carrying out the delegated duties) owing to, incurred or paid by the Agent in association with this Agreement, including those Fees, Charges and payments authorised in Items 5 and 9 respectively.

 

Clause 6.2

The Principal will at all times during the currency of this Agreement keep the Agent advised of and disclose to the Agent in writing details of all relevant and Material Facts and changes thereto about in relation to the Strata Scheme.

 

Clause 6.4

The Principal must have public liability insurance and be covered for a minimum of 210 million dollars, in respect of the Strata Scheme.  Such policy must be maintained for the term of this Agreement and the Principal must upon request, provide a certificate annually certificate confirming the currency of such policy.

 

Clause 6.7

The Principal confirms that it is the responsibility of the Principal (Owner’s Corporation) to maintain and repair the Strata Scheme common property and where Item 4 authorises the Agent to carry out functions in relation to such maintenance and repairs, the Agent must do so in accordance with Clause 5.3(1) and (2) the Agent is required to carry out maintenance and/or repairs (Item 5(2)(d)) must direct the Agent in relation thereto.

 

Clause 7.2

Where a product, fixture or fitting provided with the Property has a warning label or safety instructions attached the Principal is not to deface, damage or remove such label.

 

Clause 10

The Agent having complied with its obligations under this Agreement and not having been negligent, the Principal indemnifies the Agent, its officers and employees, from and against all actions, claims, demands, losses, costs (including legal costs on a solicitor/client indemnity basis together with any professional indemnity excess), damages and expenses arising out of this Agreement (except in relation to breaches arising due to the application of section 57 of the Act) in respect of:

(a)

the Principal’s failure to comply with this Agreement; or

(b)

the Principal’s failure to give the Agent prompt and appropriate authority or instruction, or sufficient funds to carry out an instruction or authority; or

(c)

the Agent acting in the capacity of the Principal under this Agreement.; or

(d)

a warning label or safety instructions having been removed, damaged or defaced where a product or fitting has been supplied to the Property with such a label or instruction attached.

 

Clause 11

Provision of Agreement

Each party acknowledges having received a signed copy of this document and understands such document or has had the opportunity to obtain professional advice with respect to the Agreement and each party acknowledges it is bound by the terms of this Agreement.

 

Clause 11.2

Unless otherwise specified in Item 5, the Fees will be payable monthly upon provision by the Agent of a tax invoice or statement of account.

 

Clause 11.5

All fees for services and expenses unless otherwise specified in Item 5, will be payable upon provision by the Agent of a Tax Invoice or statement of account.

 

Clause 11.6

In accordance with section 55 of the PSBAA, there will be no entitlement to commission for services performed unless a copy of this Agreement is served on the Principal not more than 48 hours after being signed by the Principal.

 

Clause 12

GST

Unless otherwise expressly stated, all monies payable or other considerations for Goods and Services to be provided under or in accordance with this Agreement are inclusive of GST.

 

Clause 14

14.1

Subject to Clauses 14.2, 14.3, 14.4 and 14.5 hereof, if the Principal terminates this Agreement prior to expiry of its term (if any), the Management Fees for the remainder of the term will then become due and payable.

The parties may terminate this Agreement at any time with mutual consent.

14.2

The Agent does not have and may not exercise any of the powers, authorities, duties or functions of the owners corporation, association or strata corporation that are conferred on another strata managing agent or managing agent appointed for the Owner’s Corporation, association or strata corporation for the time being under Section 162 of the Strata Schemes Management Act 1996 or Section 85 of the Community Land Management Act 1989.

Subject to Clause 14.1 termination of the term of this Agreement will be in accordance with section 50 of the Act.

14.3

Should either party be in breach of the provisions of this Agreement the party not in breach may give to the party in breach notice in writing to remedy such breach. If within 10 business days after receipt of such notice the party has not remedied the breach the party not in breach may immediately terminate this Agreement.

14.4

The Principal may terminate this Agreement should the Agent cease to be a licensed Strata Managing Agent under the PSBAA.

14.5

Any termination shall be without prejudice to either party's existing rights, duties or obligations under this Agreement.

14.6

Upon termination of this Agreement all monies owing under this Agreement must be paid or reimbursed up to and including the day of termination on a pro rata basis if necessary.

14.7

The Agreement is terminated on the appointment of a strata managing agent or managing agent under section 237 of the Strata Schemes Management Act 1996 Act or section 85 of the Community Land Management Act 1989 to exercise or perform all the functions of the Owner’s Corporation, association or strata corporation.

14.8

The Agent is not entitled to any remuneration by way of commission or otherwise in respect of any period after termination of the agency agreement as referred to in Clause 14.7.

14.9

The Agent is not entitled to any payment (in the nature of a penalty or otherwise) by reason of the early termination of the agency agreement as referred to in Clause 14.7.

 

Clause 16

Provision of Agreement

Each party has received a copy of this document and understands such document or has had the opportunity to obtain professional advice with respect to the Agreement and each party acknowledges it is bound by the terms of this Agreement.

 

Clause 17

Provision of Documents

The parties agree and confirm this Agreement may be forwarded electronically if the recipient has provided an email address or facsimile number in the Item Schedule to this Agreement.

 

Clause 18

Privacy Statement

The Parties will comply with the Privacy Act 1988 (CTH) and no personal information will be disclosed without prior consent.

18.1

The Agent must comply with the Provisions of the Australian Privacy Principles (Privacy Act 1988) and where required maintain a Privacy Policy.

18.2

The Privacy policy outlines how the Agent collects and uses personal information provided by you as the Owner, or obtained by other means, to provide the services required by you or on your behalf.

18.3

You as the Principal agree the Agent may, subject to the Privacy Act 1988 (CTH) (where applicable), collect, use and disclose such information to:

(1)

owners, occupants and potential occupants, insofar as such information is relevant to the managing of the strata scheme; and/or

(2)

property data collection agencies; and/or

(3)

financial institutions; and/or

(4)

tradespeople and similar contractors in order to facilitate the carrying out of works with respect to the Property; and/or

(5)

other third parties as may be required by the Agent for the purposes of marketing, sales promotion, administration relating to the use of the Agent’s products and services and  complying with legislative and regulatory requirements.

18.4

Without provision of certain information the Agent may not be able to act effectively or at all on the Principal’s behalf.

18.5

The Principal has the right to access such personal information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information.

18.6

The Agent will provide (where applicable), on request, a copy of its Privacy Policy.

 

Clause 19

Related Documents/Notices

19.1

The parties agree and confirm documents may be forwarded electronically in accordance with this clause.

19.2

Any Related Document, including this Agreement, to be served on any party under this Agreement shall be in writing and may be served on that party:

(1)

by delivering it to the party personally; or

(2)

by leaving it for the party at that party’s address as stated in this Agreement; or

(3)

by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in this Agreement; or

(4)

as an electronic communication by facsimile transmission, email or SMS text message to the party at the appropriate electronic address as stated in this Agreement; or

(5)

by delivery to an alternative address provided in writing by the party, by any of the methods outlined in Clauses 19.2(1) to (4) above.

19.3

A Related Document posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the Related Document would be delivered.

19.4

A Related Document sent by electronic communication will be deemed to have been received in accordance with section 13A of the Electronic Transactions Act 2000.

19.5

Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.

19.6

Related Documents must be served before 5pm on a business day, failing which, such Related Document will be deemed to have been served on the next business day.

19.7

The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.

19.8

The parties agree to execution, delivery and service of Related Documents electronically by a method provided by DocuSign or such other agreed electronic signature service provider.

 

30 May 2016 v4.4

Additions / Changes:

 

Item 14

LOOSE-FILL ASBESTOS INSULATION QUESTIONNAIRE

__ Residential Premises Loose-fill Asbestos Insulation Questionnaire has been completed by the Principal Manager – Owner’s Corporation and given to the Agent prior to signing this agreement.

 

Clause 1.1(5)

LFAI: means Loose-fill Asbestos Insulation.

 

Clause 1.1(6)

LFAI Register: means the register of residential premises that contain or have contained loose-fill asbestos insulation that is required to be maintained under Division 1A of Part 8 of the Home Building Act 1989.

 

Clause 1.1(8)

Material Fact: A Material Fact has, where used in this Agreement, the meaning given to it by Section 52 of the PSBAA and including all relevant information about LFAI affecting the Property.

 

Clause 1.1(10)

PSBAA: the Property, Stock & Business Agent’s Act 2002 and Regulations.

 

Clause 2

Principal’s Confirmation

By signing this Agreement the Principal(s) warrants and confirms:

(1)

it is the owner of the Property

(2)

it has read this Agreement

(3)

it has authority, by resolution of the Owner’s   Corporation, to enter into this Agreement

(4)

it has disclosed to the Agent in writing all Material Facts and has not made any statement known to be false, misleading or deceptive.

 

Clause 7

Principal’s Obligations Regarding the Property

The Principal will ensure, at its own cost:

(1)

any swimming pool, on the Property or on ancillary property complies with the Swimming Pool Act 1992 (NSW) and in particular, in accordance with the Act and Regulations:

(a)

is registered;

(b)

where required, has a valid/relevant Certificate of Compliance/Occupation;

(c)

has a warning notice/s erected near the swimming pool;

and will provide any Certificate of Compliance to the Agent on request.

(2)

the Property and inclusions are reasonably clean and comply with local and state authority building and work health and safety legislation.

(3)

the Property is safe and fit for common use.

 

Clause 8

LFAI

8.1

Where the agent suspects the possibility of LFAI being present on the Property the agent:

(1)

will notify the Principal and request that the Principal organises a LFAI inspection

(2)

is not obligated or required to organise maintenance work that involves:

(a)

drilling into walls or ceilings; or

(b)

access to subfloors or ceiling spaces.

8.2

Where a LFAI inspection is undertaken:

(1)

The Principal will provide the agent with the test results;

(2)

Where the likelihood of exposure to airborne asbestos fibres is high, the agent is authorised to advise their workers, clients and prospective clients and if appropriate exclude them from accessing the site.

 

Clause 9

Work Health and Safety

Insofar as either party to this Agreement is, with respect to the Property a - Person Conducting a Business or Undertaking (under the Work Health and Safety Act 2011, Regulations or relevant Codes of Practice in relation thereto) such party must comply with the Act, Regulations or relevant Codes of Practice. Provided however, in carrying out such obligations the Agent at all times acts only as Agent for the Principal

 

11 Jun 2015 v4.3

Copyright statement updated.

 

29 Apr 2014 v4.2

Additions / Changes:

 

Item 8

Swimming Pool                                                __ Yes  __ No

Swimming Pool Registered                               __ Yes  __ No

Valid Certificate of Compliance/Occupation        __ Yes  __ No

 

Clause 6.9

The Principal will ensure any swimming pool, on the Property or on ancillary property complies with the Swimming Pool Act 1992 (NSW) and in particular, in accordance with the Act and Regulations:

(a)

is registered;

(b)

where required, has a valid/relevant Certificate of Compliance/Occupation;

(c)

has a warning notice/s erected near the swimming pool;

and will provide any Certificate of Compliance to the Agent on request.

 

12 Mar 2014 v4.1

Additions / Changes:

 

Clause 16

Privacy Statement

The Parties will comply with the Privacy Act 1988 (CTH) and no personal information will be disclosed without prior consent.

16.1

The Agent collects and uses personal information obtained from you as the Principal to provide the services required by you or on your behalf. You as the Principal agree the Agent may collect, use and disclose such personal information in accordance with and subject to the Privacy Act 1988 (CTH) for (where applicable):

(1)

marketing; and/or

(2)

sales promotion and administration; and/or

(3)

legislative and regulatory requirements relating to promotion, administration and use of the Agent's products and services; and/or

(4)

analysing, verifying and/or checking the Principal's credit, payment and/or status in relation to provision of services.

16.2

Without provision of certain information the Agent may not be able to act effectively or at all on the Principal's behalf. The Principal has the right to request the Agent provide details of such information and also correct any inaccurate or out of date information.

 

03 Sept 2009 v4.0

Additions / Changes:


Clause 6.8

Where the Principal has authorised payments in accordance with Item (8) the Principal must provide all information necessary to enable such payments to be made.

 

17 Aug 2009 v3.9

Additions / Changes:


Item 11

Statements

Issue Period: .........................................................................



Send to:

__ Principal     Method to send by:  __ Post  __ Email  __ Fax




__ Other

Name: ................................................................................





Address: .............................................................................





Phone: ................................  Fax: ......................................


Clause 14

By signing this Agreement all parties agree to having given prior approval, in accordance with the Electronic Transactions Act 2000 No. 8, for electronic transmission of this Agreement and any other related agreements, for signing purposes or otherwise, by as far as such means of communication as have been indicated in this document (ie.  Facsimile numbers and email addresses).

 

20 May 2009 v3.8

Additions / Changes:


Item 2

Company Name:  …………………………….………………………………………..

Trading As:         …………………………………………….…………………………


Item 4

This Agreement is effective from .............................. and

__

can be terminated by either party at anytime providing without prejudice ensuring that not less than ............... days written notice is given

__

is for a fixed term of ................. which term will continue, unless terminated on expiration, on a month-to-month basis after the expiry of the fixed term and is terminable by not less than 90 days written notice by either party. on or after the expiry of the fixed term.

__

ends at the close of the next annual general meeting of the Principal

Termination will be without prejudice to the rights of either party.


Item 5

5.1 The Principal authorises and appoints delegates to the Agent, as Managing Agent, to exercise all the functions of:

(1)

__

The Chairperson, Secretary and Treasurer

 

__

The Executive Committee

 

__

The Owners Corporation (except as excluded by Section 28.3 of the Strata Schemes Management Act 1996.)

 

OR

 

5.2  The strata managing agent is authorised and appointed to exercise the functions of the chairperson, secretary and treasurer or executive committee of the owners corporation specified below (please indicate by ticking):

(2)

__

The functions shall be limited to those set out hereunder:

(a)

Functions of the Chairperson of an owners corporation

 

__

Chair the meetings of the executive committee.

(b)

Functions of the Secretary of an Owner’s Corporation (s22):


__

Prepare, and distribute and move confirmation of minutes of meetings


__

Give Serving notices required under the Act to comply with a by-law.


__

Maintain strata roll Holding documents and maintaining records relating to the scheme (for example, the strata roll, notices, and minutes of meetings).


__

Answer communication addressed to Owner’s Corporation


__

Convene meetings of the Executive Committee


__

Attend to matters of an administrative or secretarial nature in connection with the exercise, by the Owner’s Corporation or the Executive Committee, of its functions.


__

Enable inspection of documents (s108)


__

Arrange & attend building inspections and prepare reports.


__

Arrange and undertake administrative duties in relation to annual general meeting and any other general meetings.


__

Attend to matters of this nature

(c)

Functions of the Treasurer of an Owner’s Corporation (s23)


__

To notify owners of any contributions levied in accordance with this Act.


__

To receive, acknowledge, bank and account for any money paid to the Owner’s Corporation.


__

To prepare any certificate applied for under Division 4, Chapter 3, Part 5 of the Act.


__

To keep the accounting records and prepare the financial statements. Undertake the financial management of funds and books of account (including the BAS statements).

(d)

Owners Corporation Management Areas (s61):


__

Management, control, maintenance and repairs of common property to a Maximum Pre-approved Maintenance Expenditure not greater than ...........................................................................

Effecting repairs to and maintaining common property or engaging appropriately qualified tradespersons to do so and limitations on expenditure that may be incurred by the Agent without obtaining the Principal’s approval.


__

Manage finances of the strata scheme (Chapter 3, Part 3 of the Act).


__

Take out, maintain & renew insurance of the strata scheme (Chapter 3, Part 4 of the Act).


__

Keep accounts and records for the strata scheme (Chapter 3, Part 5 of the Act)


__

Enter into authorised agreements for provision of amenities (s 111) Other functions in Chapter 3, Part 6 of the Act.

(e)

Additional Management Schedule


__

To submit claims in relation to insurance


__

To facilitate maintenance and repairs in accordance with Chapter 3, Part 2 of the Act.


__

Collect contributions and other monies due and payable to the Principal. and pay accounts and outgoings and to disburse monies in accordance with the Act and Item (6) of this Agreement.


__

Pay accounts and outgoings and to disburse monies in accordance with the Act.


__

Deduct from monies received, Fees set out in Item (6)


__

Provide so far as is reasonably necessary general advice and assistance to the Owner’s Corporation and Committee members. and to implement the decisions of the Owners Corporation and its Committee.


__

Carry out reasonable direction of the Owner’s Corporation and its Committee


__

Maintain and affix common seal in accordance with authority delegated by the Principal. Keep in its possession and exercise the use of the Common Seal for functions appointed to the Agent under this Agreement.


__

Attend the annual general meeting and one other general  meetings per year.


__

Prepare and distribute (if applicable) the statutory budgets (subject only to advice from suitably qualified personnel obtained at the expense of the Owner’s Corporation).


__

Represent the Principal in any tribunal or court proceedings in respect of the Strata Scheme tenancy of the Property.

(3)  Other authorisations/limitations

..........................................................................................................................


Item 6

The Principal will pay the Agent fees and disbursements as set out below, within  ……………  days of the Statement being issued.

(a) Management Fee is payable last day of each quarter/month and is ……………………

(b) Authorised Agent’s expenditure:

 

Fees payable to Agent for Services and Expenses: [Enter details of Fees]

Description of Fees & Expenses

Fee (GST Inclusive)

Due and Payable

Management Fee

 

 

Preparation fee for any application to the registrar (hourly rate)

 

 

Minimum attendance fee for any adjudication, court or Strata Schemes Board matter

 

 

The preparation and lodgment of insurance claims (hourly rate)

 

 

Attending non-specified meetings (per meeting)

 

 

For the Preparation and supply of information (S108) and certificates under ss108 & 109 of the Act.

 

 

Overtime for any Preparation and lodgment of any tax or other returns (hourly rate)

 

 

For All out of pocket expenses incurred when executing the authorised functions (e.g. phone & fax calls, stamp duty, printing, postage, etc) (at cost)

 

 

Answering requests on title, Attending to title requisitions, preparation of statutory declarations, certificates or affidavits.(To be paid by requesting party) (hourly rate)

 

 

Maximum fee for preparation and arrangement of repairs and/or renovations

 

 

Audit and accountancy fee (hourly rate)

 

 


 

 


 

 


Item 7

The Agent shall be entitled to retain Rebates, Discounts and/or Fees commissions, rebates and/or discounts as disclosed below:

Source and details of Rebates, Discounts and Fees

Estimated Amount

 

 

 

 

 

 

 

 


Item 8

8.1 Insurance (List all insurance policies for Property)



To Pay

Insurer/Detail

Policy Number

Expiry

(1)

……………………..

__

……………………………………

……………..

…/…./..

(2)

……………………..

__

……………………………………

……………..

…/…./..

(3)

……………………..

__

……………………………………

……………..

…/…./..

(4)

……………………..

__

……………………………………

……………..

…/…./..

(5)

……………………..

__

……………………………………

……………..

…/…./..

(6)

……………………..

__

……………………………………

……………..

…/…./..

 


 

 


 

8.2

Caretaking/Maintenance

 

(1)

Gardening                    

__

………………………………………………………………

(2)

Pool

__

………………………………………………………………

(3)

Pest                                

__

………………………………………………………………

(4)

Cleaner

__

………………………………………………………………

(5)

Repairs & Maintenance

__

………………………………………………………………

(6)

Other:………………

__

………………………………………………………………

 


 

 

8.3

Rates/Utilities

 

 

(1)

Council

__

………………………………………………………………

(2)

Electricity

__

………………………………………………………………

(3)

Strata Levies

__

………………………………………………………………

(3)

Lighting and/or Heating

__

………………………………………………………………

(4)

 Water and/or Sewerage

__

………………………………………………………………

(5)

 Other: ………………….

__

………………………………………………………………


 

 


8.4

 Strata Levies

 


(1)

…………………………

__

………………………………………………………………

(2)

…………………………

__

………………………………………………………………

(3)

…………………………

__

………………………………………………………………

8.5

Repairs and Maintenance maximum expenditure on any one item: ………….…. Incl. GST)

8.5

Additional Payments (incl. GST):

………………………………………………………………………………............................


Item 10

Electrical Repairs:

……….…………………………………

Phone:

(……)……………...

Plumbing Repairs:

……….…………………………………

Phone:

(……)……………...

Building Repairs:

……….…………………………………

Phone:

(……)……………...

Other:

……….…………………………………

Phone:

(……)……………...




Item 13

PS&BA Act Section 55 (1) (c) – a copy of this Agreement signed by the Agent must be served on the Principal/Owner's Corporation within 48 hours after signing by the Principal/Owner’s Corporation.

 

Note: Parties are to ensure all Items in the Item Schedule are completed before signing. If Items are not applicable, mark ‘N/A’.


Clause 1

1.1

In this Agreement the following terms mean:


(1)

Act: the Strata Schemes Management Act 1996 as amended.


(2)

Agreement: this Strata Scheme Management Agency Agreement (Item Schedule and Terms of Agreement and any additional schedules that may be attached).


(3)

GST: where used in this Agreement, has the meaning used in A New Tax System (Goods and Services Tax) Act 1999 and “GST” includes any applicable rulings issued by the Commissioner of Taxation.


(4)

Item: an Item in the Item Schedule forming part of this Agreement


(5)

Management Fee: monies paid to the Agent as detailed in Item (6) for carrying out services listed in Item (5).


(6)

Material Fact: A Material Fact has, where used in this Agreement, the meaning given to it by Section 52 of the PSBAA.


(7)

Property: the land and improvements thereon the subject of this Agreement (as described in Item 3).


(8)

PSBAA: the Property, Stock & Business Agent’s Act 2002.

1.2

Other words and phrases not defined in this Agreement take on those meanings given to them in the Act.


Clause 2

By signing this Agreement the Principal(s) warrants and confirms:

(1)

it is the owner of the Property


and has full authority to enter into this Agreement

(2)

it has read this Agreement

(3)

it has authority, by resolution of the Owner’s Corporation, to enter into this Agreement


Clause 3

The Agent warrants it is a licensed Strata Managing Agent under the PSBAA Property, Stock and Business Agents Act 1941and as such will perform all its requirements under this Agreement, and notify the Principal immediately if the license is suspended or cancelled.


Clause 4

4.1

In consideration of and in accordance with the terms of this Agreement, the Principal appoints the Agent and its permitted Assigns, and the Agent agrees to act as the Strata Managing Agent for the Strata Scheme. Authority vested in the Agent by this Agreement shall be deemed to be vested in the Agent’s authorised employees.

4.2

The Agent may direct its employees to exercise necessary tasks under this Agreement.


Clause 5

5.1

The Agent is authorised and directed, by the Principal, to disclose all relevant and material facts in relation to the Property.

5.2

The Agent must, in compliance with Section 52 of the PSBAA, not make any promise that is false, misleading or deceptive or conceal any material facts.

5.3

(1)

The Principal authorises the Agent to initiate and pay for maintenance and repairs and maintenance on with respect to property comprising the Strata Scheme, enlisting qualified tradespersons where required without first seeking permission from the Principal up to the Maximum Pre-approved Maintenance Expenditure stated in Item (5(2)(d)) of the Item Schedule. The Agent will obtain the Principal’s written approval before ordering maintenance and repairs or maintenance if the cost of repairs or maintenance is more than the Maximum Pre-approved Maintenance Expenditure, amount so authorised provided except in emergency circumstances, the Agent is authorised to immediately initiate repairs which may be in excess of the authorised amount.


(2)

All maintenance and repairs will (where appropriate applicable) be ordered from those persons detailed in Item (10) of the Item Schedule.  The Agent will ensure compliance with all existing property maintenance contracts as set out in Item (9).

5.4

The Agent will take reasonable steps to ensure goods and services obtained for the Principal are at competitive prices.

5.5

The Agent is authorised to deduct from monies received by the Agent on behalf of the Principal all Feescommissions and other authorised outlays owing to, or incurred or paid by the Agent in association with this Agreement, including those paymentsFees, Charges and payments authorised in Items (6) and (8) respectively. of the Item Schedule. The Agent will ensure compliance with all existing property maintenance contracts as set out in Item (9).

5.6

(1)

The Agent must, by providing financial statements (Item 10), account to the Principal as set out in Item (10)) to the Principal with respect to all monies collected, received, paid or used by the Agent in carrying out the Agent’s obligations under this Agreement.


(2)

The Agent will issue tax invoices when required by the Principal in respect of all monies owing by the Principal to the Agent.

5.7

The Agent will maintain a trust account in accordance with Section 86 of the Property, Stock and Business Agents Act  1941, PSBAA and will provide information on request in accordance with Chapter 2, Division 3 of the Act.


Clause 6

6.1

The Principal confirms having, at the time of entering into this Agreement, disclosed correct details to the Agent of all relevant and Material Facts relating to the Strata Scheme.

6.2

The Principal will at all times during the currency of this Agreement keep the Agent advised of and disclose to the Agent in writing details of all relevant and Material Facts and changes thereto about the Strata Scheme.

6.3

The Principal must obtain and maintain the insurance policies listed in Item (8.1) of the Item Schedule, and the Principal must upon request, provide annual certificates annually for each insurance policy confirming the currency of such policies.

6.4

The Principal must have legal/public liability insurance and be covered for a minimum of 10 million dollars, in respect of the Strata Scheme. Such policy must be maintained for the term of this Agreement and the Principal must upon request, provide annual a certificate annually confirming the currency of such policy.

6.5

The Principal must meet the requirements of all relevant acts, legislation, by-laws, rules and regulations local, state and federal including with respect to occupational health and safety.

6.6

The Principal retain a signed copy of this Agreement.

6.6

The Principal will comply, in all respects, with the requirements of the Strata Scheme.

6.7

The Principal confirms that it is the responsibility of the Principal (Owner’s Corporation) to maintain and repair the Strata Scheme property and where the Agent is required to carry out maintenance and/or repairs (Item 5(2)(d)) must direct the Agent in relation thereto.

6.8

The Principal will comply with written requests made by the Agent in relation to compliance with the Occupational Health and Safety Act 2000, given with respect to matters covered by this Agreement.


Clause 7

The Principal indemnifies the Agent, its officers and employees, from and against all actions, claims, demands, losses, costs, damages and expenses arising out of or in respect of this Agreement (except in relation to breaches arising due to the application of under Section 30 of the Act Strata schemes Management Act 1996) in respect of from:

(a)

the Principal’s failure to comply with this Agreement; or

(b)

the Principal’s failure to give the Agent prompt and appropriate authority or instruction, or sufficient funds to carry out an instruction or authority; or

(c)

the Agent acting in the capacity on behalf of the Principal under this Agreement.


Clause 8

Each party acknowledges having has received a signed copy of this document and understands such document or has had the opportunity to obtain professional advice with respect to the Agreement and each party acknowledges it is bound by the terms of this Agreement.


Clause 9

9.1

The Agent shall be entitled to Fees for services and remunerationreimbursement for Expenses (including any taxes or deductions debited by financial institutions against the Agent’s account and attributable to the affairs of the Principal) in the amounts set out in Items (6), (7) and (8) respectively, for the execution of services referred to in Item (5) of this Agreement.

9.2

The Principal acknowledges before entering into this Agreement the Agent has provided a printed guide to the Agent’s fees and commissions and to the expenses for which the Agent will require to be reimbursed.

9.2

Unless otherwise specified in Item (6), the Fees will be payable upon provision by the Agent of a tax invoice or statement of account.

9.3

The Management Fee and any other monies remuneration payable under this Agreement may be adjusted revised at any time by agreement between the two parties.  But otherwise will be adjusted reviewed in accordance with Clause 9.4.

9.4

Any Fees and disbursements depicted in this Agreement will be reviewed on annually on the same date as the commencement date of this Agreement by agreement between the parties, if an agreement cannot be reached, adjusted using the following formula;


FD x C2

C1

FD – the management, additional fees, and disbursements payable for the term immediately preceding the relevant review date.

C1 – the Commonwealth Statisticians Consumer Price Index (all Groups) for the city of Sydney for the quarter immediately preceding the commencement of the year preceding the relevant Review Date.

C2 – the Commonwealth Statisticians Consumer Price Index (all Groups) for the city of Sydney for the quarter immediately preceding the relevant Review Date.

9.4

Where this Agreement is for a period of more than 12 calendar months the Agent’s Fees for letting and management services will be adjusted on each anniversary of the commencement date (Review Date) mentioned in Item (4) by agreement between the parties or failing agreement the greater of:


(1)

Rental adjusted using the following formula:

F=  A x B

           C

Where:

F represents the CPI adjusted Agent’s Fee.

A the Agent’s Fee payable immediately prior to the Review Date

B is the CPI for the quarter immediately prior to the relevant Review Date.

C is the CPI published for the quarter ending one year prior to the quarter in B; or


(2)

an amount equal to a 5% increase on the immediately preceding period’s Agent’s Fees.


whichever is the greater of 9.4(2) or 9.4(3) but at no time less than the current Fee.


Clause 12

The Agent makes no representation as to being a financial or investment advisor and any comments made by the Agent are not to be taken as giving financial or investment advice.


Clause 13

Any Special Conditions to this Agreement shall form part of this Agreement. Should there be any inconsistency between the terms of this Agreement and a Special Condition, the Special Condition shall apply.

 

12 Feb 2007 v3.7

Additions / Changes:


Clause 5.7

The Principal will comply, in all respects, with the requirements of the Strata Scheme.


Clause 5.8

The Principal will comply with written requests made by the Agent in relation to compliance with the Occupational Health and Safety Act 2000, given with respect to matters covered by this Agreement.

 

31 Jan 2006 v3.6

Additions / Changes:


Clause 4.1(2)

All maintenance and repairs will (where applicable) be ordered from those persons detailed in Item (8) of the Item Schedule.  The Agent will ensure compliance with all existing property maintenance contracts as set out in Item (9).


Clause 5.3

The Principal must obtain and maintain the insurance policies listed in Item (8) of the Item Schedule, and the Principal must upon request, provide certificates annually for each insurance policy confirming the currency of such policies.


Clause 5.4

The Principal must have legal/public liability insurance and be covered for a minimum of 10 million dollars.  Such policy must be maintained for the term of this Agreement and the Principal must upon request provide a certificate annually confirming the currency of such policy.


Clause 5.5

The Principal must meet the requirements of all relevant acts, legislation, by-laws, rules and regulations local, state and federal.

 

10 Jan 2006 v3.5

Additions / Changes:


Clause 6

The Principal indemnifies the Agent from and against all actions, claims, demands, losses, costs, damages and expenses arising out of or in respect of this Agreement (except in relation to breaches under Section 30 of the Strata Schemes Management Act 1996) from:


(a)

the Principal’s failure to comply with this Agreement; or


(b)

resulting from in any way the Principal’s failure to give the Agent appropriate authority or instruction, or timely, appropriate or sufficient funds to carry out an instruction or authority; or


(c)

and the Agent acting on behalf of the Principal in the capacity of Agent of the Principal under this Agreement.


Clause 12

By signing this Agreement all parties agree to having given prior approval, in accordance with the Electronic Transactions Act 2000 No. 8, for electronic transmission of this Agreement and any other related agreements, for signing purposes or otherwise, as far as such means of communication have been indicated in this document (ie. Facsimile numbers & email addresses).

 

06 Dec 2005 v3.4

Additions / Changes:


Clause 6

The Principal indemnifies the Agent from and against all actions, claims, demands, losses, costs, damages and expenses arising out of or in respect of this Agreement (except in relation to breaches under Section 30 of the Strata Schemes Management Act 1996) the Principal’s failure to give the Agent authority or instruction or timely, appropriate or sufficient funds to carry out an instruction or authority, and the Agent acting in the capacity of Agent of the Principal under this Agreement.

 

17 Mar 2005 v3.3

Additions / Changes:


Clause 11

The Agent collects and uses personal information obtained from you as Principal to provide the services required by you or on your behalf. You as Principal agree the Agent may collect, use and disclose such personal information in accordance with and subject to the Privacy Act 1988 (CTH) to third parties for (where applicable) marketing, and sales promotion and administration and as required for legislative and regulatory requirements and relating to promotion administration and use of the Agents products and services. Without provision of certain information the Agent may not be able to act effectively or at all on the Principal's behalf. The Principal has the right to request the Agent provide details of such information and also correct any inaccurate or out of date information.