Deposit
Thanks Thanks:  0
Likes Likes:  3
Dislikes Dislikes:  0
Results 1 to 10 of 10

Thread: Deposit

  1. #1
    Join Date
    Nov 2013
    Posts
    224
    Registered Childminder since
    Sept 13
    Post Thanks / Like

    Default Deposit

    Hi, just wondered what everyone else who takes deposits does in this case:
    I take a deposit of 2 weeks fees for a space in a couple of months time. If they choose not to take the space before the start date, I keep the deposit. If I can't provide the space after all, I return the deposit. The deposit is subtracted from their first month's invoice.
    However, like many minders, I do a 4 week settling in period where either party can terminate contract without need for the usual4 weeks notice or notice payment. With this in mind, if the parents decide after, say, the first week that they want to end the contract, do I keep the deposit, and just refund the 2 weeks they will have been charged on their first month's invoice? Or do I refund 3 weeks payment?
    Similarly, what happens if I myself decide after a week that the arrangement isn't working, do I refund the deposit, or do I keep it because I still offered the space as agreed, it just didn't work out?
    Hope that makes sense! Thank you

  2. #2
    Join Date
    Jun 2012
    Location
    at my computer, of course
    Posts
    4,986
    Registered Childminder since
    Nov 11
    Latest Inspection Grade
    Outstanding
    Post Thanks / Like

    Default

    I do a similar 'reservation deposit' to ensure they actually start the contract and give it a chance to work.

    The idea is to make sure parents don't sign a contract "on spec" or sign up with multiple settings to ensure a place then ditch the ones they don't want last minute or after what mum and dad regard as a trial run. (We've had a problem with this locally from time to time.)

    I refund if the child is still with me after the 4-week settling-in period, or if I give notice during the settling-in period, unless I've given notice due to unacceptable behaviour. This needs to be backed up by carefully-worded contract terms and policies.

    I refund the deposit not on the first invoice, but on the 2nd or 3rd (ie. the invoice immediately following the "commencement of full contract" as it is referred to on the standard pacey contract.)

  3. #3
    Join Date
    Nov 2013
    Posts
    224
    Registered Childminder since
    Sept 13
    Post Thanks / Like

    Default

    Quote Originally Posted by bunyip View Post
    I do a similar 'reservation deposit' to ensure they actually start the contract and give it a chance to work.

    The idea is to make sure parents don't sign a contract "on spec" or sign up with multiple settings to ensure a place then ditch the ones they don't want last minute or after what mum and dad regard as a trial run. (We've had a problem with this locally from time to time.)

    I refund if the child is still with me after the 4-week settling-in period, or if I give notice during the settling-in period, unless I've given notice due to unacceptable behaviour. This needs to be backed up by carefully-worded contract terms and policies.

    I refund the deposit not on the first invoice, but on the 2nd or 3rd (ie. the invoice immediately following the "commencement of full contract" as it is referred to on the standard pacey contract.)
    Thank you Bunyip, that's explained things perfectly for me, I'm going to draw up a policy and check my contracts this evening.

  4. Likes bunyip liked this post
  5. #4
    Join Date
    Jun 2012
    Location
    at my computer, of course
    Posts
    4,986
    Registered Childminder since
    Nov 11
    Latest Inspection Grade
    Outstanding
    Post Thanks / Like

    Default

    I can always tell I'm on CM Forum and not a Nutmums thread when somebody says "thank you".

  6. #5
    Join Date
    Oct 2008
    Posts
    8,088
    Registered Childminder since
    oct 02
    Latest Inspection Grade
    outstanding
    Post Thanks / Like
    Blog Entries
    8

    Default

    Quote Originally Posted by bunyip View Post
    I can always tell I'm on CM Forum and not a Nutmums thread when somebody says "thank you".
    Lol ... Are you on *****? If so I think I found you today ... or your double!

  7. Likes Happy17 liked this post
  8. #6
    Join Date
    Jun 2012
    Location
    at my computer, of course
    Posts
    4,986
    Registered Childminder since
    Nov 11
    Latest Inspection Grade
    Outstanding
    Post Thanks / Like

    Default

    Quote Originally Posted by loocyloo View Post
    Lol ... Are you on *****? If so I think I found you today ... or your double!
    As I say, I'm never alone with schizophrenia.

    If the local CMs' Mafia find out what I've being saying, I think I'll be taken for a little drive........................................

  9. Likes Happy17 liked this post
  10. #7
    Join Date
    Nov 2013
    Posts
    224
    Registered Childminder since
    Sept 13
    Post Thanks / Like

    Default

    Quote Originally Posted by redtiger21 View Post

    Thank you Bunyip, that's explained things perfectly for me, I'm going to draw up a policy and check my contracts this evening.
    One more question: if they do take the space at the start date, but decide to change it to less hours, or less days per week? What if I can only offer some of the agreed days/hours but not all?

  11. #8
    Join Date
    Oct 2008
    Posts
    694
    Registered Childminder since
    Oct 08
    Post Thanks / Like

    Default

    A bit off the point, but what do other folk do about offering a settling in period if the start date is some way off? I have never offered a settling in period unless the baby was starting immediately. I would be loath to offer a parent the option of reserving a place months ahead if they could the walk away after a week or two without any cost or penalty, and in all likelihood after I had turned lots of others away. I must admit that I have not overly worried about potentially having a child for four weeks if I felt the need to give notice myself, as I reckon if a child was really unsettled it would be an odd parent who insisted on the full notice period, and even if they did, how bad could it be?

  12. #9
    Join Date
    Jun 2012
    Location
    at my computer, of course
    Posts
    4,986
    Registered Childminder since
    Nov 11
    Latest Inspection Grade
    Outstanding
    Post Thanks / Like

    Default

    Quote Originally Posted by redtiger21 View Post
    One more question: if they do take the space at the start date, but decide to change it to less hours, or less days per week? What if I can only offer some of the agreed days/hours but not all?
    You take a deposit against the contract as written at the point it is signed. Neither party is obliged to agree to any variation.

    Fr'instance. Mum signs a contract for you to provide care on Mondays only. Then comes back to tell you that her boss at UK Widgets Ltd. has broken into the overseas widgets market and offered her an extra day to cope with the increased demand. She now wants you to provide care on Mondays and Tuesdays.

    If you want to do this, fine. Either rip up and replace the contract with a whole new one, or (and this is what I'd do) draw up and both sign a contract variation sheet with the new days/hours. Deposit situation is not changed.

    But if you can't/won't due both days, you can insist on standing your ground on the original contract. Then, if mum decides to dump you and come to me instead (because I can do both days, but mostly because I'm handsome, athletic, intelligent and sexy, sexy, sexy - not to mention modest with it) you can keep the deposit because you have a contract and she's broken it. A small price to pay for having the undivided attention of the Lurve-Bunyip, wouldn't you say?

    Similarly, if mum wants to reduce the hours (due to a slump in world widget prices) she isn't keeping the contract so you can keep the deposit or re-negotiate. I'd contact my legal team to check first before retaining any deposit and you must always state in writing that any deposit is "non-refundable".
    Last edited by bunyip; 10-06-2015 at 09:28 AM.

  13. #10
    Join Date
    Nov 2013
    Posts
    224
    Registered Childminder since
    Sept 13
    Post Thanks / Like

    Default

    Quote Originally Posted by bunyip View Post

    You take a deposit against the contract as written at the point it is signed. Neither party is obliged to agree to any variation.

    Fr'instance. Mum signs a contract for you to provide care on Mondays only. Then comes back to tell you that her boss at UK Widgets Ltd. has broken into the overseas widgets market and offered her an extra day to cope with the increased demand. She now wants you to provide care on Mondays and Tuesdays.

    If you want to do this, fine. Either rip up and replace the contract with a whole new one, or (and this is what I'd do) draw up and both sign a contract variation sheet with the new days/hours. Deposit situation is not changed.

    But if you can't/won't due both days, you can insist on standing your ground on the original contract. Then, if mum decides to dump you and come to me instead (because I can do both days, but mostly because I'm handsome, athletic, intelligent and sexy, sexy, sexy - not to mention modest with it) you can keep the deposit because you have a contract and she's broken it. A small price to pay for having the undivided attention of the Lurve-Bunyip, wouldn't you say?

    Similarly, if mum wants to reduce the hours (due to a slump in world widget prices) she isn't keeping the contract so you can keep the deposit or re-negotiate. I'd contact my legal team to check first before retaining any deposit and you must always state in writing that any deposit is "non-refundable".
    Ha!! Ok thanks again. Would you be interested in being my childminder.....??!!

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Quick Links and Advertisements

Important Information Links
Some Useful Quick Links
Advertisements

 

You can also find us on:
Deposit Deposit Deposit

We use cookies to make this site as useful as possible. They are small text files placed in your browser to track usage of our site but they don’t tell us who you are.
By continuing to use this site you are consenting to cookies being placed on your computer. Find out more here: Cookies in Use

Childminding Help and the Childminding Forum are part of Childcare.co.uk