FINANCIAL POLICIES
FOR BAR & MLS BILLING
[REVISED 3/2004; 6/2005]
|
|
Example for
Multiple Listing
Service (MLS) |
| October 25th: |
Statement is mailed for November
dues and fees. |
| November 1st: |
Statement (for November) is due. |
| November 24th: |
December Statement is mailed, with a
reminder: service will be cutoff December 15th if
November payment is not received by December 15th. |
| December 15th: |
(if November charges have not been
paid) A Reinstatement Fee of $25 is incurred and service is cutoff. A member
must pay past amounts due plus the Reinstatement Fee in order to restore
service.
|
| January 1st: |
Notification is sent to those who
have not paid (November charges), stating that both BAR and MLS
membership will be terminated on February 1st. |
| February 1st: |
BAR and MLS membership is
terminated. To rejoin BAR, a person must pay a $200 Initiation Fee. To
rejoin MLS, a person must pay a $200 Initiation Fee, plus all past due
amounts. |
| Service termination (cutoff)
and Reinstatement Fee: 45 days from due date. |
| Membership termination (from
MLS): 90 days from due date. |
|
[a person who voluntarily drops membership in MLS, but
with all financial obligations current, can rejoin MLS during the same year
by paying a $25 Reinstatement Fee] |
|
Example for
Association of
Realtors® (BAR) |
| Late December: |
Membership Statement is mailed.
Charges are due upon receipt and will be delinquent after January 31st. |
| February 1st: |
Dues
"reminder" notice is sent to both the Member and the Member's
broker. |
| February 20th: |
3rd notice is sent. |
| March 5th: |
Membership is terminated if dues
have not been received. To rejoin,
a person must pay a $200 Initiation Fee plus two month’s dues (January &
February), and the monthly prorated dues based on the calendar month in
which he rejoins. |
| Membership termination: 60
days from due date. |
|
[a person who voluntarily drops his membership, but with
all financial obligations current, can rejoin BAR during the same calendar
year by paying a $25 Reinstatement Fee] |
