Acceleration is the collection of all assessments due through the end of the fiscal year. Which option best describes this term?

• A. The collection of all assessments due through the end of the fiscal year
• B. A delay in collecting dues
• C. A method of calculating interest
• D. A policy for monthly billing

Answer: (A)

Acceleration is a collection remedy used by a community association. When a member falls delinquent, the association may invoke acceleration to require payment of the entire remaining balance for the current fiscal year all at once, rather than continuing to accept installment payments. This means the whole amount due—assessments plus any late fees, interest, and collection costs—becomes payable immediately. This helps protect the association’s cash flow and serves as a deterrent to late payments. It’s typically defined in the governing documents and may require formal steps like notice and board action, and it must comply with applicable laws. It is not about simply delaying dues, calculating interest, or setting a monthly billing policy.