Retainers

[TillyTwinkle]

Sorry if im asking a question with an obvious answer!!

Have got a lady coming to sign contract for J tomorrow but she's not wanting him to start till September.

She is aware that a retainer is payable to secure his place, but can i state in the contract that the retainer is non-refundable nor a credit against future service?

Im sure the NCMA handbook will give me the answer but i seem to have misplaced it in my office!! :blush:

Thanks
Tilly.x

[sarah707]

These are the rules for retainers and deposits ... hope they help to solve your problem :D

Deposits vs retainers

A deposit is – the parent and childminder decide when a place is available / required and the parent pays a one-off payment to hold the place open until then. The deposit is repaid to the parent out of the first month’s fees. If the place becomes unavailable or the terms are changed, the childminder must, by law, refund the full deposit. If the parent decides they don’t want the place, the childminder keeps the money.

A retainer is - usually half normal fees and may be charged if a place is immediately available but a parent does not want to take it for a while. Retainers are for the childminder to keep unless the place is not available when the parent wants it, in which case they must be repaid in full. You cannot charge a retainer on an unborn baby.

[TillyTwinkle]

Thanks Sarah, thats 100% answered my question and at least i know ive not said anything in my t&c's that i shouldn't!

xx