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Checklist for additional content to be in a strata management service agreement

Checklist for additional content to be in a strata management service agreement

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Checklist for additional content to be in a strata management service agreement:

  • an indication whether the brokerage will hold any funds on behalf of the strata corporation;
  • any authority that permits the brokerage to transfer funds between trust accounts;
  • the scope of authority of the brokerage to spend funds, enter into contracts, or to invest money held by the brokerage on the strata corporation’s behalf;
  • the timing, nature and frequency of accounting statements and other records to be provided to the strata corporation;
  • a description of the strata corporation’s records to be kept by the brokerage; and
  • provisions regarding the use and disclosure of personal and strata corporation information.