Why is a common pool (float) required?
As soon as the factors are appointed they will require a payment of £100.00 for a float, which allows the factor to pay tradesmen’s accounts during half yearly periods between invoicing. Upon settlement of the 6 monthly accounts these monies return the float to its original level. As repairs and general maintenance of property/developments do happen at any time, it is important that the factor can pay the tradesmen without delay, which will ensure that they will continue to undertake work at competitive rates on behalf of owners in the future when problems arise. The float allows the factor to do this without the possibility of carrying any burden of expense which they are prohibited from doing.
Related Questions
- A common concern with other available synthetic oils is that roller bearings may "skate" or "float" in the bearing race, and not actually rotate as designed. How does SYN3 prevent this from happening?
- Are the pools close to the Villas: Common or shared pool, private pool?
- Why is a common pool (float) required?
