Dear Shareholder,
The requirement to pay service charges for Port Solent Houses and Berths are clearly set out in the Transfer Deeds and Berth Sub-under leases for each property.
The Relevant clauses clearly state:
The Purchaser will contribute and pay to the Company on demand the Relevant Proportion of the costs expenses outgoings and matters mentioned or referred to in Part II of Schedule V and value added tax thereon where applicable.
The contribution for each financial year of the Company shall be estimated by the Company (whose decision shall be final and binding on the Purchaser) prior to the beginning of each financial year of the Company and the Purchaser shall pay the estimated contribution by two instalments the first instalment (being two-thirds of the estimated contribution) on the first day of the financial year of the Company and the second instalment (being one third of the estimated contribution) six calendar months thereafter.
POSOL residents pay their service charge by cheque, debit or credit card, standing order and internet bank transfer.
However, POSOL Shareholders will have the facility to pay their service charge twice yearly by Direct Debit.
We would stress that this facility is not a 12 month Direct Debit facility as this is not permitted under the terms of the legal documentation. Direct Debits will be taken twice a year in April and October corresponding with the 2/3rd charge due on 1st April and 1/3rd charge due on the 1st October each year.
Any POSOL Shareholders wishing to take up this payment method should email . The relevant direct debit mandate will be sent to them with instructions on what to do in order to get their account set up.
JAN
2014