Always remember to encourage the customer to pay on time and on time and specifying their commitment – and the consequences of not meeting their commitment. By clearly specifying penalties for late payment in the customer contract, you can either encourage timely payments or at least sanction late behaviour. In Scotland, there is no interest charge as long as you have the deferred payment contract. Interest is only collected if the contract is terminated by the person or from 56 days after death. Interest should then be collected at a “reasonable rate” set by the local authority. The deferred payment contract is in all respects a loan contract, because as soon as the payments are deferred, the person is responsible for the local authority and interest is on the money owed. As such, the agreement must clearly define all the conditions and information necessary to enable the person to determine his or her rights and obligations under the contract before it is concluded. This includes: Under Section 35 of the Act, the municipality has the power to offer a deferred payment contract to persons living in subsidized residences (formal plans) if: if the person has sold his house or died, there is a time limit to fully settle the deferred payment contract. That is: even if deferred payments can stop the account, interest charges will continue to be incurred until that date, when it is settled, and the local authority must ensure that it alerts the person so that they can make an informed decision about the account count. If you are entitled to a deferred payment, the Commission is likely to ignore the value of your property for the first 12 weeks of your stay in a retirement home. This should allow sufficient time for the purposes of the agreement. Read more in our article on the 12 weeks of real estate failure- 3.
Clearly define late penalties Designers should try to create incentives for on-time payment. AIGA`s standard contract attempts to create incentives for timely payment (“A monthly service fee of 1.5 per cent (or the maximum amount allowed by law) must be paid on all outstanding balances”). Here too, the sentence up to inaction is passive. The clause does not contain penalties that degenerate. Language creates ambiguity that can lead to litigation, for example. B the difference between service and indefinite late fees. Only in England, if you have a deferred payment contract, must your local authority take into account the cost of receiving your home when deciding how much you must pay for your care costs. Each income contribution you make under the agreement reduces the total amount you must defer, so there is less to repay when the property is sold. In Northern Ireland, there is no formal system of deferred payment agreements.
However, it is still worth asking your local health and social security company if they could facilitate this type of agreement. The deferred payment plan is currently available to all persons living in a nursing home who meet the clear criteria set by the government (see below).