Financial Management, Procurement and Insurance
   
 

Measures for Recovery of Outstanding Payments

In case of default in payment of management fees, maintenance fees or funds by the owners, the owners' corporation (OC) may -

* Contact the relevant owner/tenant so as to understand the situation and also advise him to settle the payment before the due date.
   
* Issue a reminder by double registered mail to the owner, enclosing an extract of the relevant legislation governing the power of OCs to recover outstanding fees and funds from owners.
   
* Continue to demand payment through its lawyer and request the lawyer to enter with the Land Registry a record of default payment against the property concerned should the owners still fail to pay the fees.
   
* File a claim to the Small Claims Tribunal demanding payment of the outstanding sums from the owner. The Tribunal has the jurisdiction to handle claims up to $50,000. For claims over $50,000 but not exceeding $1,000,000, they shall be handled by the District Court, whereas for claims over $1,000,000, they shall be dealt with by the High Court. In a case where the sum is higher than $50,000, the claimant may relinquish the exceeding amount to keep the case within the jurisdiction of the Tribunal.