REBNY will pay the costs of the compliance reviews, unless a review discloses any deficiency, omission or other non-compliance with the VOW Agreement terms, and then the Participant or AVP, as applicable, will be responsible for the costs of the compliance review. Please refer to Exhibit B of the VOW Agreement for information relating to the costs of a compliance review.
Any deficiencies, omissions, or other non-compliance identified during a compliance review must be cured within thirty (30) days of the review, or the VOW will not be able to operate with RLS listing information, and may face immediate suspension from the RLS. The Participant or AVP may extend the time to cure any deficiencies based on an agreement with REBNY. The cost for any additional work done to inspect the cure of any deficiencies discovered during a compliance review will be charged to the Participant or AVP at $250/hour.