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IVA Standard Conditions
The 'Standard Conditions' are part of each Individual Voluntary Arrangement ('IVA') proposal that is put forward by each of our clients.
For several reasons (e.g. they are a standard part of all proposals, we produce very high volumes of them, creditors do not want to see a separate copy on each and every case) we have decided to make them available on our website.
As a matter of course we will no longer send paper copies of these with our clients' proposals although we will, of course, be happy to provide paper copies to interested parties upon request.
The Standard Conditions have been developed and amended over time:
The following Standard Conditions were agreed between Creditors and their voting agents, The Insolvency Service and Insolvency Practitioners and apply to IVA Advisory Centre proposals submitted after 17 March 2008:
From 13 August 2007 to 16 March 2008, the following Conditions will have applied:
Originally, the conditions were drawn up by the Association of Business Recovery Professionals (also known as 'ABRP' and 'R3' ):
You will notice that in our version of the original conditions some items in the index are marked as 'deleted'. This is because the provisions dealt with by that item are contained in the particular proposal for each client.
Further information about the Standard Conditions can be found on R3's website at http://www.r3.org.uk.
A creditors guide to insolvency practitioners fees can be accessed below:
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