Definition : Competitive bidding

Procedure whose purpose is to allow the syndicate of co-owners to obtain from a supplier of products or services a good quality-price ratio when awarding a contract, and to promote the optimal management of common expenses. It is also called, where appropriate, "call for tenders" or "solicitation of bids".

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To maintain the common portions of the co-ownership and ensure the preservation of the immovable, it is necessary for the syndicate to subscribe to a certain number of maintenance or construction contracts. As the representative of the syndicate of co-owners, it is the board of directors that generally has the power to subscribe to all the contracts of the co-ownership. To manage costs and determine the obligations of each, it is essential for directors to distinguish the main types of contracts. This fact sheet provides an update on the most common contracts in this area, namely the lump sum contract, the cost-plus contract and the flat-rate unit price contract.
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The insurance premiums are the amount paid by the insured monthly or annually to benefit in the event of a claim from the guarantees in the insurance policy. It is an expense towards the preservation, maintenance and administration of the immovable. Although the syndicate assumes this cost, it is charged back to the co-owners as a portion of their common expenses (condo fees). However, in recent years, there has been an increase in the amount of insurance premiums for most syndicates of co-owners. Two main factors are at issue: the general ageing of this stock of collective dwellings and the increase in claims caused by the failure to carry out maintenancework  on the building.  But the complexity of the insurance system also has its share of responsibility.
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