NOTICE OF SUSPENSION OF ENROLMENT FEES THROUGH PA003
NOTICE OF SUSPENSION OF ENROLMENT FEES THROUGH PA003
The National Home The National Home Builders Registration Council have suspended
Builders Registration Council have suspended the practice of
the practice of accepting enrolment fees through the PA003.
accepting enrolment fees through the PA003.
In terms of Rule 5(1)(b) of the National Home Builders Registration
In terms of Rule 5(1)(b) Council Rules in GNRHome Builders Registration Council Rules in GNR 1408 of 1
of the National 1408 of 1 December 1999 (‘Regulation 1408”),
December 1999 (‘Regulation 1408”),the NHBRC is required to enter into agreements with financial
the NHBRC is required to enter into agreements with financial
institutions/mortgage lenders of enrolment enrolment fees in
institutions/mortgage lenders for the paymentfor the payment of fees in respect of monies owed to the
respect of monies owed to the home builder by first progress payment (‘PA003”) from a
home builder by the housing consumer on payment of the the housing consumer
on payment of the first progress
mortgage loan. In lieu of a NHBRC agreement with payment (‘PA003”) from a mortgage
any financial institution/mortgage lender, as required
loan. In lieu of a NHBRC agreement with any financial institution/
by Regulation 1408, the NHBRC hereby advises the suspension of the PA003 method.
mortgage lender, as required by Regulation 1408, the NHBRC hereby
Until such time as the advises the suspension of legislation is adhered to,the NHBRC is willing to accept a
requirement of the the PA003 method.
guarantee issued by a recognized financial institution in favour of the NHBRC.Home builders and housing
consumers are encouraged to direct any enquiries toof thenearest provincial to,
Until such time as the requirement the legislation is adhered customer care office.
the NHBRC is willing to accept a guarantee issued by a recognized
Toll-free: 0800 200 824 financial institution in favour of the NHBRC.Home builders and housing
| web: www.nhbrc.org.za
consumers are encouraged to direct any enquiries to the nearest
provincial customer care office.
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2013/12/20 8:41 AM