(ii) Information with regard to where to find or how to obtain a copy of the Insured Scheme Terms and Conditions, which will be sent by post within 3 Business Days of registering for the Scheme. The British Landlords Association members have access to the DPS and Zero deposit products as part of there membership. Dispute means when, at the end of a Tenancy, the Landlord and the Tenant cannot agree on how much of the Deposit should be given to each Party; Dispute Papers means the documents detailed in Sections 19 and 20; Disputed Amount Confirmation Form means the form provided by the Tenant to The DPS informing them that the Tenant has requested that the Landlord repay the whole or any part of the Deposit within 10 calendar days of receipt of such request and that the Landlord has failed to do so; End of Tenancy Date means the date notified to The DPS by the Landlord on registration of the Deposit as being the date on which the Tenancy ends; Forms means all paper forms you must submit to us in order to use the Scheme including the Change of Landlord/ Agent Form, the Insured Deposit Registration Form, the Landlord’s Evidence Form, and the Tenant’s Evidence Form; Insured Deposit Registration Form means the form to be completed by the Landlord in accordance with these Insured Scheme Terms and Conditions and submitted to The DPS with the relevant Protection Fee; Insured Scheme Terms and Conditions means these Insured Deposit Protection Scheme Terms and Conditions; Joint Tenancy This is where more than one Tenant has entered into a Tenancy Agreement with a Landlord; Landlord This means a Landlord of a Tenancy. Deposit insurance protects your savings if your financial institution fails. Defi nitions Wherever the following words and phrases appear in these Insured Scheme Terms and Conditions they … a. c. The DPS will require all Landlords (other than Letting Agents and Organisations) to provide the following mandatory pieces of information: (ii) correspondence address of the Landlord; (iii) at least one contact telephone number for the Landlord; and. Guild or PRSAS Members using DPS (with discount code) Deposit Protection Service (DPS) Under £500: £12.00: £15.00: £500 or over: £20.20: £22.20: Joining / Membership fees Nil Nil: Fee when tenancy turns statutory periodic Nil Nil: Annual renewal fee: Nil: Nil e. It is the responsibility of the Landlord completing the Insured Deposit Registration Form to ensure that the responsibilities of the Lead Tenant are fully understood by all Tenants, and any Third Party, and that the Lead Tenant is nominated by all of the Joint Tenants and any Third Party. l. The DPS will not admit any Pre-Existing Dispute to the ADR Procedure instead it must be handled by the previous tenancy deposit scheme provider. c. Updates, changes and additions to information held by The DPS can only be made by the Landlord or the Lead Tenant. Since the announcement that Guild members and our accredited landlords will be able to obtain a discount for the Deposit Protection Service (DPS) new insured tenancy deposit scheme from 2 April 2013, we’ve had a number of questions as to what this means, in … The premiums rise to $84 from ages 40 to 44, and to $144 from ages 45 to 49. f. If the Landlord fails to complete and return the Landlord’s Evidence Form so that it is received by The DPS within 14 days of it being issued, The DPS will pay the Disputed Amount out in accordance with the Tenant’s instructions contained within the Disputed Amount Confirmation Form. A landlords wants to deduct £200 from a £1,000 deposit registered with an insured scheme. (vii) online registrants and users will have to provide a valid email address. c. At the end of the Tenancy, the Landlord and Tenant should attempt to agree the basis for part or all of the Deposit to be returned by the Landlord to the Tenant. Convenient - Letting Agents will be charged per deposit monthly by direct debit; the (ex vat) fee to protect each deposit will be just £9.50 (further discounts will be available for volume). Please note that the Landlord’s claim is likely to fail if such a tenancy agreement is not supplied. Changes in Landlord or Tenant(s) Data. b. Landlords using the online service will not be able to submit an Insured Deposit Registration Form unless all the mandatory information is provided. The DPS insured scheme will not be charging registration fees to its customers and will provide industry competitive protection fees for landlords and letting agents when the scheme launches in April. h. The Adjudicator can only make a Decision to award up to the value of the Disputed Amount. c. The confirmation to each Party will contain: (i) Name, address and contact details of the DPS; (iii) the amount of the Deposit and the date of registration; (iv) the name and contact details of the Landlord; (v) the name(s) of the Tenant(s) and the Lead Tenant, if applicable. If one, or part of the terms of these Insured Scheme Terms and Conditions proves to be legally unsound or unenforceable in any way, this will not affect the validity of the remaining terms and conditions in any way. If you obtain a Court Order against your Landlord or Tenant The DPS will only release the Disputed Amount if the Court Order specifically refers to the Deposit and/ or the scheme administrator holding the Disputed Amount and includes a direction as to how much of the Deposit is to be paid to the successful party. Landlords will be required to supply a valid email address and select a password that must be a minimum of 5 characters in length to use the online service. CDIC insures deposits held in Savings and chequing accounts. It is your responsibility to ensure that any communications are sent in sufficient time to be received within any deadlines. a. When you’re insured under DPS, you’ll be covered for a maximum of $46,000. The DPS consider the following obligations (whether set out in these terms or otherwise applicable) to be ‘Relevant Obligations’ for the purposes of paragraph 5(7) (b) of Schedule 10 of the Housing Act: (i) Any obligation to ensure the completeness and/or accuracy of any information or documentation supplied to The DPS; (ii) Any obligation to respond to requests for further information or documentation or otherwise assist any due diligence carried out by or on behalf of The DPS; (iii) Any obligation requiring the payment of any fee including any Protection Fee; (iv) Any obligation to lodge with The DPS any Disputed Amount following a request from The DPS to do so; (v) Any obligation to comply with any laws, rules, regulations or codes; and. The Adjudicator cannot make any award on costs. c. The Adjudicator will be fair and unbiased and will make a Decision based on the evidence contained in the Dispute Papers. Landlords must ensure that all information held by The DPS in relation to Tenancies, and Deposits for which they are responsible are up to date and complete, accurate and not misleading. The DPS is an opt-out term life insurance policy that provides all eligible CPF members with a sum assured of $46,000. 14. d. Debit Card transactions will be processed online and confirmation that a successful Card transaction has taken place will be provided to Landlords in real time. a. a. f. In order for a Deposit to be protected, in relation to a Pay As you Go user the appropriate Protection Fee must be cleared in full. You will pay a reduced fee as a BLA member by using the DPS Insured Scheme. The day of receipt will be the day following the day the Dispute papers are sent to the Adjudicator. Premiums for CPF members up to 65 years old will also be lower than current rates. Summing up, the annual insurance premium ranges between $36 to $260. This notification will also request confirmation that the Landlord agrees to use the ADR service in order to resolve the Dispute. e. If you are sending an e-mail to The DPS, please ensure your e-mail does not exceed 20 megabytes. m. The Adjudicator may take the initiative in ascertaining the facts and the law. and student property associations; Parties means the Landlord and Tenant(s). Any abusive or offensive behaviour towards our Customer Service Representatives will result in the call being terminated immediately. Following the successful protection of a Deposit, The DPS will provide confirmation of protection and other information to the Landlord and Tenant as detailed further in Section 12. Any digital evidence must be signed or a statement should be attached signed by the party providing them and showing the date on which they were taken. As you will need this, see image below. e. Any limitation or exclusion of liability under these General Terms and Conditions shall only operate to the extent permitted by law. If you continue to use this site we will assume that you are happy with it. Words and figures must match and be equal to the full amount of the Deposit as stated on the Insured Deposit Registration Form. Such acts shall include, but not be limited to, acts of God, strikes, lockout, riots, acts of war, epidemics, pandemics, governmental regulations superimposed after the fact, communication or line failures, power failure, earthquakes or other disasters. b. o. Submitting a deposit to our Insured scheme - letting agents. The DPS, The Pavilions, Bridgwater Road, Bristol, BS13 8AE. g. Cheques will be banked within 1 Business Day of receipt. The DPS accepts no liability for any loss incurred as a result of you not ensuring your passwords are kept as secure as possible. b. b. In this case, the landlord should repay the tenant the undisputed £800, then pay £200 to the scheme. (The DPS will issue a confirmation of receipt of the Protection Fee 5 calendar days after the Insured Online Cheque Submission Form has been processed and, where applicable, of the cheque for the Protection Fee clearing). All correspondence and completed paper Forms should be submitted to: (ii) Paper Forms can be requested via The DPS helpline on 0330 303 0033. Note: from 1 April 2021, this coverage will be extended to $70,000, and then adjusted to $55,000 for those aged 60 to 65 If the Landlord does not respond to this notification prior to the Tenancy End Date The DPS will close the Deposit and inform the Landlord and all Tenants that the Deposit is no longer protected. Notifying the Landlord of a Disputed Amount. a. Participation in The DPS insured scheme will be open to all private landlords on a pay as you go basis. Disputes will only be referred to Adjudication if both the Landlord and Tenant comply with these Insured Scheme Terms and Conditions. 5. While it is not a compulsory scheme, it is an opt-out scheme, meaning that unless you deliberately opted out of the scheme, you would be automatically enrolled when you make your first CPF contribution and are between the age of 21 and 60 (65 after 1 April 2021). e. Use of the ADR Procedure is free of charge (other than the Parties’ own costs) to the Landlord and Tenant. (i) The Customer Service Centre is available to: (ii) The telephone number for the Customer Service Centre is 0330 303 0033. Initiating the ADR Procedure - The Disputed Amount Confirmation Form. This is a Relevant Obligation. 29. e. The Adjudicator will send copies of any additional information or documents received from one Party to the other Party. End of tenancy process. Where a Dispute arises between the Parties which cannot be resolved by negotiation between them, if the Tenant wishes to use the ADR Procedure they must complete the Disputed Amount Confirmation Form. What is Dependants’ Protection Scheme (DPS)? Please see clause 33 in particular for further details regarding the possible sanctions for non-compliance. All Landlords who register for the Scheme via the Customer Service Centre will be provided with: (i) a Landlord’s ID on the telephone which will be confirmed in writing; and. Click for a printable version of these terms and conditions for serving Prescribed Information. n. Evidence submissions can be made only to the Dispute Resolution Team by post to the address set out in 4(c), or by email to disputes@depositprotection.com. DPS is an optional scheme which covers CPF members who are Singapore Citizens or Permanent Residents for a maximum sum assured of $46,000. The Dependants' Protection Scheme (DPS) is a life insurance term plan covering many people here. (iv) All Landlords requesting Forms will be asked for their Landlord ID and the Deposit ID, where applicable, in order to process requests for Forms. The ADR Procedure can only be used if the Tenant has completed an Disputed Amount Confirmation Form notifying The DPS that there is a Dispute in relation to the repayment of the Deposit held by the Landlord, requesting that the Dispute be referred to Adjudication and confirming that the Tenant will be bound by the Decision of the Adjudicator. 2. Lead Tenants will be able to logon to the Service at www.depositprotection.com by inputting their Deposit ID and Surname. To point out, the insurer will take your age last birthday as the reference. (v) All Tenants requesting Forms will be asked for their Deposit ID in order to process requests for Forms. Registering for the Scheme – general information. This update can be done over the telephone helpline, via their online log-in, or in writing. The DPS’s liability in relation to any claim shall in no circumstances whatsoever exceed the total amount of the Deposit to which the claim relates and in any event will not exceed £5,000 in aggregate including costs and interest. Guild members and accredited landlords can obtain preferential insured tenancy deposit scheme rates. Be covered for up to a maximum sum assured of $46,000. i. a. 12. The DPS will make payment in accordance with the Adjudicator’s Decision by cheque or electronic transfer in accordance with the details recorded for the relevant Parties in its records. f. Changes made in writing must be signed by the Landlord or Lead Tenant as applicable. i. Scheme or Insured Scheme means the deposit protection scheme established under the Housing Act 2004 under which the Deposit is retained by the Landlord and a Protection Fee is paid to The DPS to cover the risk of the Landlord failing to pay any Disputed Amount to The DPS;Service means the Deposit Protection Service or The DPS, which provides both Custodial and Insured Tenancy Deposit Schemes; d. If the Tenant fails to complete and return the Tenant’s Evidence Form so that it is received by The DPS within 14 calendar days of it being issued, The DPS will pay the Disputed Amount out in accordance with the Landlord’s instructions contained within the Notification of Dispute form. We hope that you are always satisfied with our service, however, if you are unhappy with our service, we have a complaints handling procedure. (xi) a mobile phone number or email address for the Tenant / Lead Tenant. g. It is the responsibility of the Agent, Landlord or Tenant to inform The DPS immediately if a change has been made to their details without the consent of the registered Agent, Landlord or Tenant. Confirmation of an Insured Deposit closure. a. A “Party” means one or the other; Pay as you go means the payment method available for the protection of Deposits to Landlords and Organisations upon registration with the Insured Scheme; Prescribed Information means the information which must be provided by the Landlord to Tenant(s) in accordance with the Housing (Tenancy Deposits) Prescribed Information Order 2007; Protection Fee means the fee required to be paid to The DPS by the Landlord to complete the registration of a Deposit received by the Landlord; Relevant Obligation shall have the meaning set out in clause 33. All information provided by Landlords at the time of registration (and thereafter) must to the best of their knowledge be complete, accurate and not misleading. The Landlord must provide the Prescribed Information to the Tenant. If they do not, we may award the disputed amount to the other Party. b. Registered address: The DPS, The Pavilions, Bridgwater Road, Bristol, BS13 8AE. Please see clause 33 in particular for further details regarding the possible sanctions for non-compliance. As a yearly renewable term insurance policy, the exact premium depends on your renewal age. These Insured Scheme Terms and Conditions are governed by and shall be construed in accordance with the laws of England and Wales. a. n. The Adjudicator may apply their discretion and judgement to the interpretation of the Tenancy Agreement and the application of the facts. Download a suitable tenancy agreement for use with the DPS which contains the prescribed information via our Tenancy Builder. a. a. • how much will an insurance scheme cost and how should it be funded? The coverage is worldwide and you will be insured up to the end of the policy year during which you turn 60 years old. f. Should the cheque not meet any of the criteria above The DPS reserves the right to reject the Insured Deposit Registration Form and return the cheque and the Insured Deposit Registration Form to the Landlord within 4 Business Days of receipt, identifying the reason for rejection. Alternatively, where there are Joint Tenants or a Third Party registered together on a Deposit, the Landlord must manage the relationship between the Joint Tenants, and between the Tenant and any Third Party, and identify a Lead Tenant in the Insured Deposit Registration Form who is authorised to act on behalf of all Joint Tenants and any Third Party. DPS_insured_terms&conditions_Apr2013_V1.0 11Z8KG D102 The Deposit Protection Service Deposit Protection Insured Scheme Terms and Conditions 1. 18. Only cheques will be accepted as payment for paper Insured Deposit Registration Forms. Evidence received after that time will not be accepted. The tenant disputes £100 of the deductions. We will keep you informed about changes with a message on our homepage at www.depositprotection.com and when you log in to use the online service. From time to time we may change these Terms and Conditions. The Tenant’s Evidence Form requires the following information be provided: (i) set out the reasons why the Tenant denies that the Landlord is entitled to some or all of the Disputed Amount; and. The DPS will also, where possible, send notification to the Tenant that a Tenant’s Evidence Form has been issued via email. This email will contain the Landlord’s ID. b. The DPS will send the Landlord a reminder 1 month before the Tenancy End Date informing them that The DPS must be notified prior to the Tenancy End Date whether the Tenancy is a) at an end; b) continuing on a periodic basis; or c) renewing as a fixed term Tenancy. An original or certified copy of the Tenancy Agreement relating to the initial Tenancy proposed for protection; AND. All evidence submissions must be received before midnight on the deadline day. d. Putting a Dispute through the ADR Procedure does not remove the duty of one party to pay the other any other amounts which are due. The Canada Deposit Insurance Corporation (CDIC) automatically insures your eligible deposits up to $100,000. This is a Relevant Obligation. Easy - The DPS insured scheme will not be charging membership or annual renewal fees to its customers, so no membership paperwork to contend with either! The Tenant’s Evidence Form must be fully and properly completed by the Tenant and received by The DPS within 14 calendar days of it being issued. Here’s what you get with DPS. (iii) Any Forms requested will be pre-printed with any known relevant information linked to the transaction in question and mailed to the correspondence address of the requesting Party. Affordable term-life insurance that automatically covers all Singapore Citizens and Permanent Resident CPF members who are aged 21 to 60 years old. by guildy | 5 Jun 2020 | Deposits and Tenancy Deposit Schemes (England), Deposits and Tenancy Deposit Schemes (Wales) | 0 comments. For the purposes of these Terms and Conditions, the term Landlord includes a Letting Agent or Organisation, save where the context dictates otherwise; Landlord’s Evidence Form means the standard Landlord’s evidence form completed by the Landlord containing evidence in support of the Dispute; Landlord ID This is the unique identifying reference number we give to the Landlord when they register with us; (i) in the case of Joint Tenants, one of their number who has been nominated to act on their behalf; and, (ii) where there is a Third Party, the person nominated to act on behalf of the Tenant(s) and the Third Party; and. l. If the Landlord and Tenant agree to any amount that is to be repaid to the Tenant, it is the responsibility of the Landlord to repay this amount to the Tenant. j. Landlord members of the Guild of Residential Landlords and accredited landlords with Private Rented Sector Accreditation Scheme are able to obtain a discounted rate for the Deposit Protection Service insured tenancy deposit scheme. c. Cheques or Debit Cards can be used as payment for online transactions. The process is a very simple process and your unique discount code is; BLA1218. Deposits are protected to ensure: (i) when Tenants are entitled to it, they get all or part of their Deposit back; (ii) when Tenants are not entitled to get all or part of their Deposit back, all or part of the Deposit is paid to the Landlord; (iii) any Disputes between Tenants and Landlords will be easier to resolve; and. Changes to Joint Tenancy information is the responsibility of the Landlord. Landlord’s resident outside the Permitted Territories are not permitted to protect a Deposit through the Insured Scheme. f. Each Party must bear their own costs of participating in the ADR Procedure. From its modest benefits to the new bumper changes setting in from 1 April 2021 onwards. It costs £57.50 to join the scheme and then £29.36 for each property protected. k. The DPS shall endeavour to process any documents received by it in connection with clause 5j within the timeframes advised on its website from time-to-time. j. Where Protection Fee payments are made online, Insured Deposit Registration Forms will be processed within 1 Business Day of receipt by The DPS. g. Once processed, a Form or online Deposit response is a binding instruction to make payment; you are not entitled to cancel, amend or revoke such an instruction. 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