If you are a little bit concerned about spending money on a hot tub or swim spa, BISHTA members can offer extra peace of mind through the “BISHTA Stakeholder account”. This account is an excellent means of safeguarding your money, as it gives reassurance to customers paying large sums of money to retailers before goods are.
BISHTA’s Stakeholder account is only available to BISHTA members and their customers. It requires a “Heads of Agreement” to be developed, detailing what product(s) or work is needed and details what amount of money can be paid out on each item (as part of Annex A).
The Agreement is then signed by both the client and the BISHTA member and is then sent to the BISHTA office, along with the money, which is placed in a Client Stakeholder account. Once cleared funds have been received, the member proceeds with the actions to meet the agreed timescale.
Once the BISHTA member’s actions have been completed and client confirmation has been received, the client funds can be paid by BISHTA. In the unlikely event that there is a disagreement, an inspection can be arranged (but there may be an additional cost for this service).
There is currently no charge for use of the Stakeholder account and any interest is retained by BISHTA from the funds deposited. If any (overseas) bank charges are incurred, these will be payable by the BISHTA Member, unless otherwise agreed with the client.
Please contact the BISHTA office for copies of the Stakeholder account documentation.
To find out more about BISHTA contact our office by calling: +44 (0)1264 356211