Disclosure Statement

Services providers who pay commission to the Strata Manager:  NIL

Training of the Strata Manager

Your Strata Manager will attend numerous industry training events such as conferences specific to the Strata and Community Title legislation that third parties will promote. The conference fee for attendance will be paid for by Integrity Strata.

Your Strata Managing Agent will also attend numerous training events promoted under the Property, Stock and Business Agents Act 2002 concerning ensuring that the Strata Manager meets its trust account requirements and requires appropriate service to you as the Owners Corporation.

The Strata Manager will also attend industry training events promoted by the Office of Fair Trading (N.S.W.) for the Strata Managing Agents Continuing Professional Development and education, which will expressly and impliedly benefit the Owners Corporation.

The Strata Managing Agent will not receive any gifts or benefits as part of its attendance at such training services other than increasing and ensuring compliance with its Continuing Professional and Educational Development.

Coverforce South Coast Insurance Services Pty Ltd ACN 168 996 076

The Strata Manager may use the services of Coverforce South Coast Insurance Services Pty Ltd to provide services to the Owners Corporation under this Agreement.

The Strata Manager receives no commission from Coverforce South Coast Insurance Services Group Pty Ltd.

The Owner’s Corporation is entitled to use the services (or direct the Strata Manager to use the services) of other third parties. You are not obliged to use any of the services of CSCIS or Coverforce under this agreement.

Insurance Disclosure

To arrange your insurance program in an efficient manner, an insurance broker relies upon the Strata Manager and its delegates to play an important role. The role typically includes but is not limited to:

    • Arranging Valuations for the property
    • Giving you copies of your insurance documents, i.e. Certificates of Currency (on request)
    • Arranging your insurance or renewal of existing insurance
    • Communicating your insurance requirements to us
    • Discuss your insurance program with you to ensure it meets your legal requirements.

The Strata Manager is qualified to give factual information about insurance but not general advice or personal advice.

To assist with the performance of its insurance obligations under clause 6.5.2 of the Management Agency Agreement, the Strata Manager will use the services of Coverforce South Coast Insurance Services Pty Ltd (authorised representative number 001236014) (CSCIS) unless you direct the Strata Manager to use the services of a nominated insurance broker to provide insurance services to the Owners Corporation under this Agreement.

CSCIS is a corporate authorised representative of Coverforce Partners Pty Ltd AFSL 245377 (Coverforce). CSCIS is a joint venture between Coverforce and Bridgewater Services Pty Limited (Bridgewater Services).

Bridgewater Services is not independent of the Strata Manager because of:

a)  family relationship between an indirect shareholder of the Strata Manager and a shareholder of Bridgewater Services, and

b) a business relationship between the Strata Manager and Bridgewater Services under which the Strata Manager may receive a fee for providing personnel to Bridgewater Services. Bridgewater Services has a business relationship with CSCIS. Bridgewater Services indirectly owns 50% of CSCIS and provides services to CSCIS. In consideration for providing those services, CSCIS may pay a fee to Bridgewater Services. This fee is paid by CSCIS and is not in addition to the service fee invoiced to the owner’s corporation.

c) The owners corporation is not obliged to use any of the services of CSIS, Bridgewater or Coverforce under this agreement. The Owners Corporation can instruct the Strata Manager to use an insurance broker of its choosing.