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Base Rate
Base Rate
is the minimum rate below which Bank’s are not permitted to lend barring
certain exceptions. It is the minimum rate of interest that a bank is
allowed to charge from its customers.
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Base Lending Rate (BLR)
BLR is a minimum interest rate
calculated by banking institutions based on a formula which takes into
account the institutions’ cost of funds and other administrative costs.
This is defined by central bank of the countries.
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Bulk Purchasing
A method of cutting operation costs for a property in which supplies are
purchased in large quantities. Also called volume buying.
By-Laws
A set of 'rules' set out in the Third Schedule of the Strata Titles Act
1985 that the residents (owners and tenants) in the strata scheme must
follow. These can be added at a general meeting of the management
corporation. All additional by-laws are not the same so it is wise to
obtain a copy of the current by-laws for the strata scheme involved.
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