Riba - Free Trust (Nelson) - Current Schemes

RIBA-FREE TRUST (Nelson)

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Current Schemes

Scheme Ten Thousand

  • There are a total number of Thirteen Unit Holders in this scheme
  • One unit being equal to £100.00 (UK pounds Sterling)
  • Each unit holder pays a hundred pounds a week
  • The period of this scheme is two years
  • All payments to be handed in by Friday of each week
  • The person in line of payment shall receive eight payments of £1,250.00 making a total of £10,000.00 (i.e. 1,250 x 8 = 10,000)
  • The turn of each recipient will be decided by a draw
  • If a person wishes to discontinue his payment, it is expected that he will find a suitable alternative person to take his place.
  • In case of serious difficulty, regarding his/her payments before completion of the two year term, the representative body should be consulted
  • If a member decides to discontinue his/her payments before completion of the two year term, he/she will not receive payment until the end of that term
  • The next of kin will be responsible for the repayment of the debt of a deceased member, having passed away after receiving his/her share
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