Reserve fund

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Term Main definition
Reserve fund
This fund is meant to cover the major repairs and upgrades of the condo building. It is the amount of money contributed by all co-owners of the building and held by the condominium juristic person in a sinking fund. It is formed at the start of the existance of the condominium in Thailand, as a one time payment (separate from the monthly fee).
Synonyms: sinking fund

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