Mornington Yacht Club Accounts and Credit Policy
1. MEMBER’S ACCOUNTS.
Members are issued a monthly statement (“the Statement”) to the end of the previous month detailing the transactions and the amount outstanding on their Club account. The Statement may be sent by post or email or delivered personally to the Member at the last known contact details supplied by the Member.
2. CREDIT TERMS
Members must pay any monies owing within 30 days of the Statement reporting date. A Member’s account is ‘in arrears’ if the Statement amount has not been paid in full within 30 days of the Statement reporting date.
3. PAYMENT OPTIONS.
Members may pay their accounts by bank transfer, cheque, credit card, debit card, cash or EFTPOS. Members must identify the payment with their membership number or full name when paying by bank transfer. A Member remains liable for any amount until the funds are
remitted by a bank or credit provider and are cleared.
5. CREDIT/DEBIT CARD AUTHORITY
A Member may provide the Club with a general ongoing credit/debit card authority for payment of all expenses charged to the Member’s Club account. The credit/debit card will be debited on the fifteenth day of the month after the Statement reporting date.
6. MEMBERSHIP FEES
Members may pay their annual Membership fees by monthly installments provided they have signed an ongoing credit/debit card authority.
7. CREDIT CARD FEES, GST AND PAYMENT PRIORITY
A non-payment fee of $10 will apply to any credit card transaction that is declined for any reason.
Club MYC imposes a small surcharge for all credit card transactions. GST tax invoices will be issued on request. Account payments will be credited against the oldest outstanding items first.
8. ACCOUNT QUERIES
Members are encouraged to contact the Club MYC office in person, by telephone, email or written correspondence to clarify or resolve any queries regarding their Statement.
9. PERSONAL FINANCIAL HARDSHIP
Members are strongly encouraged to contact the CEO if they suffer from circumstances of personal hardship that may mean that their account will fall into arrears. The CEO will seek to work with the Member to assist the Member where reasonably possible. The CEO has discretion to delay or suspend some payments due to Club MYC by written agreement. Any arrangement agreed remains confidential to the CEO and the Commodore or the Commodore’s nominee unless there is default under that agreement. Do not wait until your Membership has been cancelled and your personal credit rating is affected.
10. RESOLUTION OF DISPUTES
A Member may refer a dispute regarding any amount or Statement to the CEO. The CEO must refer the matter to the Committee if requested by the Member if the matter is not satisfactorily resolved within a reasonable time.
11. ARREARS AND DEFAULT – In accordance with MYC CONSTITUTION
12. IMPLEMENTATION
This policy can only be implemented by the General Committee. The CEO must refer a Member with an account in arrears beyond 90 days from the Statement reporting date to the Committee unless an agreed Member’s personal financial hardship plan has been agreed
and signed. Any recovery costs incurred on any outstanding statement must be reimbursed by the Member. A Member cannot re-join Club MYC until all monies owing to Club MYC have been paid.
MYC Committee,
September 2016
Members are issued a monthly statement (“the Statement”) to the end of the previous month detailing the transactions and the amount outstanding on their Club account. The Statement may be sent by post or email or delivered personally to the Member at the last known contact details supplied by the Member.
2. CREDIT TERMS
Members must pay any monies owing within 30 days of the Statement reporting date. A Member’s account is ‘in arrears’ if the Statement amount has not been paid in full within 30 days of the Statement reporting date.
3. PAYMENT OPTIONS.
Members may pay their accounts by bank transfer, cheque, credit card, debit card, cash or EFTPOS. Members must identify the payment with their membership number or full name when paying by bank transfer. A Member remains liable for any amount until the funds are
remitted by a bank or credit provider and are cleared.
5. CREDIT/DEBIT CARD AUTHORITY
A Member may provide the Club with a general ongoing credit/debit card authority for payment of all expenses charged to the Member’s Club account. The credit/debit card will be debited on the fifteenth day of the month after the Statement reporting date.
6. MEMBERSHIP FEES
Members may pay their annual Membership fees by monthly installments provided they have signed an ongoing credit/debit card authority.
7. CREDIT CARD FEES, GST AND PAYMENT PRIORITY
A non-payment fee of $10 will apply to any credit card transaction that is declined for any reason.
Club MYC imposes a small surcharge for all credit card transactions. GST tax invoices will be issued on request. Account payments will be credited against the oldest outstanding items first.
8. ACCOUNT QUERIES
Members are encouraged to contact the Club MYC office in person, by telephone, email or written correspondence to clarify or resolve any queries regarding their Statement.
9. PERSONAL FINANCIAL HARDSHIP
Members are strongly encouraged to contact the CEO if they suffer from circumstances of personal hardship that may mean that their account will fall into arrears. The CEO will seek to work with the Member to assist the Member where reasonably possible. The CEO has discretion to delay or suspend some payments due to Club MYC by written agreement. Any arrangement agreed remains confidential to the CEO and the Commodore or the Commodore’s nominee unless there is default under that agreement. Do not wait until your Membership has been cancelled and your personal credit rating is affected.
10. RESOLUTION OF DISPUTES
A Member may refer a dispute regarding any amount or Statement to the CEO. The CEO must refer the matter to the Committee if requested by the Member if the matter is not satisfactorily resolved within a reasonable time.
11. ARREARS AND DEFAULT – In accordance with MYC CONSTITUTION
12. IMPLEMENTATION
This policy can only be implemented by the General Committee. The CEO must refer a Member with an account in arrears beyond 90 days from the Statement reporting date to the Committee unless an agreed Member’s personal financial hardship plan has been agreed
and signed. Any recovery costs incurred on any outstanding statement must be reimbursed by the Member. A Member cannot re-join Club MYC until all monies owing to Club MYC have been paid.
MYC Committee,
September 2016
