It is unclear which party is going to initiate the process. The current NZ experience is 1/20 is performed electronically. 19/20 are still paper / physical settlements. This is frustrating to parties that wish to transact electronically. Lawyers / Conveyancers that wish to transact electronically can be hamstrung by those who unfortunately are the majority who will not change.
I suggest:
A. The Vendor Lawyer contracts as a special condition:
(a) the Vendor will meet the cost of EC; and if the Purchaser elects otherwise
(b) The Purchaser will meet the costs of all parties to attend physical settlement
B. Registration Fees – Give a discount of 10 – 50% on registration fees if EC applies and the full tote is applied to lodgments that are done over the counter. Ditto for stamp duty.
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