Heads of Agreement
This Heads of Agreement is made between the Developer (you, the submitter of this form on behalf of the Developer) and Dymond Cowan Pty Ltd trading as The Knight Alliance (The Knight) of Level 1, 204 Balaclava Road, Caulfield North Vic 3161, for the provision of Owners Corporation consultancy and management services relating to your development project noted above.
Background
- The Developer proposes to develop the site at the Project address and estimated total number of lot as noted above.
- The Developer wishes to engage a professional management company to provide Owners Corporation Management services.
- The Developer requires Owners Corporation advice during the planning and construction stages of the Project and to engage a company to provide Owners Corporation management once the Project has been completed.
- The Knight agrees to provide the Scope of Services as noted below to the Developer as part of this engagement at no charge (up to the allocated hours) on the proviso that The Knight is contracted by execution of a Contract of Appointment to provide Owners Corporation Management services for a period of three (3) years for the Project.
1. Purpose of Heads of Agreement
This Heads of Agreement records the intention of the Developer, as the initial owner of all lots that are to be created upon registration of the Plan of Subdivision for the above Project, to enter into a management agreement with The Knight for the provision of Owners Corporation management services.
2. Engagement of Services
2.1 Scope of Services
During the planning and construction stages of the Project, The Knight will provide the following services as part of this engagement:
- Preparation of an estimated Owners Corporation (OC) budget – 3 hours
- Review architectural drawings and property services’ plans and provide feedback – 2 hours
- Review of Plan of Subdivision and advice on OC structuring and common property allocation – 2 hours
- Review Owners Corporation rules that have been prepared by the Developer’s legal team and provide feedback – 2 hours
- Review owners/occupier’s information booklets and manuals that have been prepared and provide feedback – 2 hours
- Attend Developer’s owners information evening – 3 hours
- Facilitate establishment of the Owners Corporation including arranging Owners Corporation insurance and prepare agenda for first meeting of the Owners Corporation – 3 hours
- Prepare initial Owners Corporation Certificate (to include all lots) – 2 hours
- Total hours included: 20 hours
Upon settlement of lots, The Knight’s Client Onboarding Team will facilitate the handover from the Developer to Purchasers to ensure a seamless transition.
The Knight will support the Developer in the appropriate manner and will use its best endeavors to provide the necessary information in relation to all aspects of Owners Corporation, to a high standard.
2.2 Term
This Heads of Agreement will commence when signed and submitted and continue until the registration of the Plan of Subdivision for the Project.
3. Exclusivity
By signing this agreement, the Developer agrees to engage The Knight exclusively to provide Developer Services for this Project. The Knight will be nominated as the Owners Corporation Manager at registration, subject to final appointment and contract execution with the Owners Corporation.
4. Compensation
4.1 Hourly Rate
The Knight hourly rate is $200+GST. The hourly rate remains valid until 30 June 2026 after which a CPI increase will be applied.
4.2 Fees
4.2.1 No Charge Fees
The Knight agrees to provide the above Scope of Services to the Developer at no charge, up to the total hours included noted above, on the provision that a Contract of Appointment is executed with The Knight at the first meeting of the Owners Corporation for a period of 3 years.
4.2.1 Additional Fees
If The Knight provides a consulting services that exceeds the total hours included noted above, then The Knight can charge the Developer for the time based upon an hourly rate, unless otherwise agreed with the Developer.
5. Confidentiality
Both parties acknowledge that during the period that this Agreement relates to, they may have access to confidential information about the other party. Confidential information includes trade secrets, business plans, financial information, customer lists, and any other information identified as confidential by the disclosing party. The receiving party will use the confidential information solely for the purpose of fulfilling its obligations under this Agreement and will not disclose such information to any third party without the prior written consent from the disclosing party.
6. Obligations
6.1 Developer Obligations
Upon registration of the Plan of Subdivision for the Project, the Developer agrees to execute a Contract of Appointment with The Knight to provide Owners Corporation Management and related services at the first meeting of the Owners Corporation for a minimum period of 3 years.
6.2 The Knight Obligations
That the Owners Corporation management fee and related charges to be charged by The Knight to the Owners Corporation, for the first year of management, is competitive at the time of the first meeting of the Owners Corporation.
7. Termination
7.1 Termination for Convenience
Either party may terminate this Agreement at any time for any reason by providing 60 days’ written notice to the other party .
- If the Developer terminates this Agreement, the Developer must pay The Knight at the hourly rate for the time incurred for providing the above Scope of Services up until the termination date.
- If the Developer terminates this Agreement, the Developer must reimburse The Knight for any costs incurred while providing the above Scope of Services, plus a 20% administration fee.
- If the Developer does not executed a Contract of Appointment with The Knight for a minimum period of 3 years, the Developer agrees to pay The Knight the hourly rate for the hours incurred for providing the above Scope of Services up to the termination date.
8. Additional Services
The following additional services can be provided at an hourly fee to the Developer:
- Preparation of Owners Corporation rules, move in guides, etc.
- Conduct a tender for facility management and concierge services.
- Attendance onsite and at additional meetings; contractors walk throughs, builder handover, training upon completion, establishing the Owners Corporation, Inaugural Meeting, etc.
9. Execution
By submitting this form, you confirm that you are authorised to act on behalf of the Developer and agree to the terms outlined above.
Heads of Agreement
This Heads of Agreement is made between the Developer (you, the submitter of this form on behalf of the Developer) and Dymond Cowan Pty Ltd trading as The Knight Alliance (The Knight) of Level 1, 204 Balaclava Road, Caulfield North Vic 3161, for the provision of Owners Corporation consultancy and management services relating to your development project noted above.
Background
- The Developer proposes to develop the site at the Project address and estimated total number of lot as noted above.
- The Developer wishes to engage a professional management company to provide Owners Corporation Management services.
- The Developer requires Owners Corporation advice during the planning and construction stages of the Project and to engage a company to provide Owners Corporation management once the Project has been completed.
- The Knight agrees to provide the Scope of Services as noted below to the Developer as part of this engagement at no charge (up to the allocated hours) on the proviso that The Knight is contracted by execution of a Contract of Appointment to provide Owners Corporation Management services for a period of three (3) years for the Project.
1. Purpose of Heads of Agreement
This Heads of Agreement records the intention of the Developer, as the initial owner of all lots that are to be created upon registration of the Plan of Subdivision for the above Project, to enter into a management agreement with The Knight for the provision of Owners Corporation management services.
2. Engagement of Services
2.1 Scope of Services
During the planning and construction stages of the Project, The Knight will provide the following services as part of this engagement:
- Preparation of an estimated Owners Corporation (OC) budget – 5 hours
- Review architectural drawings and property services’ plans and provide feedback – 5 hours
- Review of Plan of Subdivision and advice on OC structuring and common property allocation – 3 hours
- Review Owners Corporation rules that have been prepared by the Developer’s legal team and provide feedback – 3 hours
- Review owners/occupier’s information booklets and manuals that have been prepared and provide feedback – 3 hours
- Attend Developer’s owners information evening – 4 hours
- Facilitate establishment of the Owners Corporation including arranging Owners Corporation insurance and prepare agenda for first meeting of the Owners Corporation – 5 hours
- Prepare initial Owners Corporation Certificate (to include all lots) – 2 hours
- Total hours included: 30 hours
Upon settlement of lots, The Knight’s Client Onboarding Team will facilitate the handover from the Developer to Purchasers to ensure a seamless transition.
The Knight will support the Developer in the appropriate manner and will use its best endeavors to provide the necessary information in relation to all aspects of Owners Corporation, to a high standard.
2.2 Term
This Heads of Agreement will commence when signed and submitted and continue until the registration of the Plan of Subdivision for the Project.
3. Exclusivity
By signing this agreement, the Developer agrees to engage The Knight exclusively to provide Developer Services for this Project. The Knight will be nominated as the Owners Corporation Manager at registration, subject to final appointment and contract execution with the Owners Corporation.
4. Compensation
4.1 Hourly Rate
The Knight hourly rate is $200+GST. The hourly rate remains valid until 30 June 2026 after which a CPI increase will be applied.
4.2 Fees
4.2.1 No Charge Fees
The Knight agrees to provide the above Scope of Services to the Developer at no charge, up to the total hours included noted above, on the provision that a Contract of Appointment is executed with The Knight at the first meeting of the Owners Corporation for a period of 3 years.
4.2.1 Additional Fees
If The Knight provides a consulting services that exceeds the total hours included noted above, then The Knight can charge the Developer for the time based upon an hourly rate, unless otherwise agreed with the Developer.
5. Confidentiality
Both parties acknowledge that during the period that this Agreement relates to, they may have access to confidential information about the other party. Confidential information includes trade secrets, business plans, financial information, customer lists, and any other information identified as confidential by the disclosing party. The receiving party will use the confidential information solely for the purpose of fulfilling its obligations under this Agreement and will not disclose such information to any third party without the prior written consent from the disclosing party.
6. Obligations
6.1 Developer Obligations
Upon registration of the Plan of Subdivision for the Project, the Developer agrees to execute a Contract of Appointment with The Knight to provide Owners Corporation Management and related services at the first meeting of the Owners Corporation for a minimum period of 3 years.
6.2 The Knight Obligations
That the Owners Corporation management fee and related charges to be charged by The Knight to the Owners Corporation, for the first year of management, is competitive at the time of the first meeting of the Owners Corporation.
7. Termination
7.1 Termination for Convenience
Either party may terminate this Agreement at any time for any reason by providing 60 days’ written notice to the other party .
- If the Developer terminates this Agreement, the Developer must pay The Knight at the hourly rate for the time incurred for providing the above Scope of Services up until the termination date.
- If the Developer terminates this Agreement, the Developer must reimburse The Knight for any costs incurred while providing the above Scope of Services, plus a 20% administration fee.
- If the Developer does not executed a Contract of Appointment with The Knight for a minimum period of 3 years, the Developer agrees to pay The Knight the hourly rate for the hours incurred for providing the above Scope of Services up to the termination date.
8. Additional Services
The following additional services can be provided at an hourly fee to the Developer:
- Preparation of Owners Corporation rules, move in guides, etc.
- Conduct a tender for facility management and concierge services.
- Attendance onsite and at additional meetings; contractors walk throughs, builder handover, training upon completion, establishing the Owners Corporation, Inaugural Meeting, etc.
9. Execution
By submitting this form, you confirm that you are authorised to act on behalf of the Developer and agree to the terms outlined above.
