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© 2017 Handbell Society of Australasia

Financial Loans

In 1994 the Handbell Society of Australasia (HSA) adopted a financial loan policy with the purpose of providing loans to a school, church, community group or individuals, who are members of HSA, to purchase handbells/chimes/belleplates, thus further promoting the art of handbell ringing throughout Australia, New Zealand and the surrounding regions. The following information regarding how to apply for a loan can also be downloaded in PDF format here. 

 

Information: What do I need to do?

 

The policy requires applicants to provide a written application detailing the following information.

 

  • 1.    Full names and addresses of the applicant organisation/group/individual. 

        (If an incorporated community group – a list of the names and addresses of the office bearers or 

        directors. If a school – the name of the Principal and any additional information if applicable e.g. the 

        Name of the Chairman of the School Board.  If a religious organisation or a Church – the relevant

        personnel.)

  • 2.    The product (handbells/ tone chimes/ belleplates) with the total cost thereof for which the loan is

        required.  Please include a copy of the quotation, freight and custom’s costs.

  • 3.    The amount of loan requested with an indication of the initial deposit to be provided by the 

        borrower

  • 4.    The period of loan approved depends on the amount being requested. (The term varies from 1 year 

        to a maximum of 4 years)

  • 5.     Details of the intended schedule of repayments whereby the borrower intends to make the 

        repayments.

6.     Applicants are required to use the Financial Loan Application form of the H.S.A.

 

Conditions: What are my responsibilities if I accept the loan?

 

If a loan offer is made, acceptance of the offer is in accordance with the following conditions.

 

  • 1.    The borrowing term depends on the loan amount requested.  It is usually one to four years. The term 

        approved is decided upon on a case by case basis by the H.S.A. Executive Committee of the 

        Handbell Society of Australasia.

  • 2.    The borrowing period is from the date of the ‘draw down’ (when funds are provided to the borrower)

        of the loan.

  • 3.    The interest rate on the loan shall be 1% of the Australian loan borrowed and will be calculated on a 

        decreasing basis as the loan is paid off. This amount will be calculated on a yearly basis from the date 

        of  ‘draw down’ of the loan.

  • 4.    The borrower shall pay the interest to the H.S.A. annually on receipt of notification from the 

        Treasurer of the H.S.A. and will forward the amount to the Treasurer.

5.     The borrower will indicate how he/she/it will repay the loan

6.     The borrower will indicate what repayments he/she/it will make and when.

7.     The entire loan must be repaid by the end of the agreed borrowing period.

  • 8.    In the event of any moneys owing to the H.S.A. under the loan agreement, remaining unpaid to the 

        H.S.A. for more than six months after the end of the borrowing period, then any unspent loan funds, 

        and equipment (including bells) bought with the loan funds shall become the property of the H.S.A. 

        as full settlement of the loan. The H.S.A. at its discretion may refund any left over monies to the 

        borrower after disposal of such equipment and settlement of any costs borne in connection with the 

        loan.

  • 9.    The borrower may repay the entire loan either in whole or in part earlier than at the end of the 

        specified borrowing period and any interest falling due under this agreement shall then be calculated 

        on a pro rata basis to the date of the loan or part loan repayment

  • 10.  At the time of application for the loan, and during the whole period of the loan the borrower shall 

        be a fully paid up member of the H.S.A.

11.    The offer of the loan must be taken up within six months of it being made

12.    A signed contract bearing these conditions will be entered into by the borrower and the H.S.A.

  • 13.   The HSA will purchase the instruments and the group will repay the amount. The group will 

        increase its equity in the instruments according to the amount of money repaid.  

 

How is a decision made?

 

  • 1.   Initially the Asset Manager or the President and the applicant work together to ensure that the 

       nature and conditions of the loan are clearly understood.

  • 2.   The application in hard copy should be sent to the Treasurer with an electronic copy to the 

       President.  

  • 3.   On receipt of the completed application form, the application is forwarded to the HSA Executive 

      Committee for a decision.

  • 3.   If the Loan is approved, an offer is made to the Applicant.  If accepted, then the Loan Agreement is 

       signed by the two authorised persons (a) the applicant and (b) the authorised person on behalf of the 

       Handbell Society of Australasia.

  • 4.  The HSA will then purchase the assets and request the supplier to have them sent directly to the 

        borrower. 

 

For information about the application please contact: Carmel Daveson, President, Handbell Society of Australasia.

 

Download a PDF Application Form here

 

Download a PDF on Why you should join the HSA here