Conflict Avoidance

Question 1

What is negotiation

Answer 1

Getting parties together with a view to reconcile differences/areas of agreement /settlement or compromise

Question 2

What is mediation

Answer 2

Appointment of an independent third party
Voluntary process and all parties have to agree for mediation to go ahead

Question 3

What is adjudication

Answer 3

appointment of independent third party adjudicator who considers evidence and makes a decision which is binding on all parties

Question 4

What is arbitration?

Answer 4

• involves parties agreeing to refer the dispute to a third party and agree to be bound by the decision

Question 5

What are the methods of Alternative Dispute Resolution Mechanisms

Answer 5

Adjudication
Arbitration
Mediation
Negotiation

Question 6

What is the difference between an independent expert and arbitrator?

Answer 6

-Independent expert = own investigation and own knowledge to reach conclusion
-Arbitrator - makes decision based on information submitted to them

Question 7

What is an expert witness

Answer 7

Surveyor who gives expert opinion in court
Must be impartial

Question 8

What is an advocate

Answer 8

Someone who represents client in court

Question 9

What is the RICS Dispute Resolution Service

Answer 9

Offers dispute resolution services in
-adjudication
-arbitration
-decapitation disputes

Question 10

What is the role of an Ombudsman when a complaint is recieved?

Answer 10

An ombudsman is a person who has been appointed to look into complaints about companies and organisations. Ombudsman schemes are independent, free and impartial

Question 11

If a client comes to you with a conflict, how would you deal with it?

Answer 11

Dealt with in 2 ways
1. Conflict Avoidance - do not accept instruction
2. Conflict Management
-written steps agreed with all parties
-conflict is managed with information barrier

Question 12

What is an information barrier

Answer 12

designed to block the exchange of confidential information
-physical barrier
-information should be securely stored
-clear audit trail - firms compliance officer must iver see actions

Question 13

Is the RICS Global Professional Statement on Conflicts of Interest 2017 mandatory?

Answer 13

Yes

Question 14

What is the professional statement which relates to conflicts of interest

Answer 14

RICS Global Professional Statement on Conflicts of Interest 2017
-Mandatory
-States
-Must not advise a client where there is a CoE
-Informed consent - in the interest of all and not prohibited by law

Question 15

What is a conflict of interest

Answer 15

Anything that impacts individual’s or firm’s ability to act impartially and in the best interest of a client

Question 16

What is a Chinese wall

Answer 16

-An information barrier within an organisation used in order to prevent exchanges or communication that could lead to a conflict of interest

Question 17

What is a conflict?

Answer 17

• A disagreement

Question 18

When do disputes arise in your role?

Answer 18

-Final accounts
-Adjudication

Question 19

Tell me about a conflict of interest check you have carried out

Answer 19

-business partner checks
-Moreton

Question 20

what are the advantages of ADR?

Answer 20

-cheaper
-more flexible
-faster than going to court

Question 21

What are the different forms of conflict of interest

Answer 21

-Financial interest
-Personal Interest
-Commercial Interest
-Acting on both sides of transaction

Question 22

What are the three types of conflict of interest

Answer 22

• Party conflict - same or related work instruction for 2 different parties
  -Own interest Conflict - Relates to personal interest
  -Confidential Information Conflict - relates to work between 2 parties that is confidential

Question 23

What are the 3 options when presented with a conflict

Answer 23

1. Conflict avoidance
2. Written advice - disclose nature and steps on how to deal with conflict
   3.Conflict management - set up procedure in informed consent (information barrier)