Service charge

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Service charge

A component of some finance charges, such as the fee for triggering an overdraft checking account into use.

Service Charge

A fee a company or bank assesses for providing an unusual service. For example, a bank may assess a service charge if a person who does not have an account withdraws money from that bank's ATM. It is also called a service fee.
References in periodicals archive ?
Govt says service charge being collected by certain restaurants & hotels is not service tax You are
Statutory protection is available for residential leaseholders while it is a general requirement that service charges are reasonable - if leaseholders are concerned that these may be excessive they should seek legal advice.
SBP further emphasizes that these service charges should be reasonable, commensurate with the service and customers should not be charged for the services not rendered or rendered without consent.
Now that's not to say every restaurant or bar keeps the service charges - just that they can do.
Where costs go up there will be a review of service charges and it is required to itemise such changes and justify it to Rera and the board of directors at owners associations.
The Real Estate Regulatory Agency, or Rera, the regulatory arm of Dubai Land Department, or DLD, has announced the launch of the first Service Charge and Maintenance Index for properties within Dubai's freehold areas.
And it is not just service charges where Voivenel finds fault with current practices.
He said: "Recently, there have been calls for tougher regulation on service charges, with suggestions of inconsistent and opaque practices, but the greater problem is a lack of understanding of obligations on behalf of the tenants.
The way in which service charges are handled is set out within the lease of the property, but a poor appreciation of what is involved and what costs can be expected can often lead to tenants being unable to plan finances properly.
However, the service charges for financing up to 10 years have been raised by 0.
Pearl-Qatar a few months earlier, comes news of a precedent setting drop in common property service charges.

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