Conflict Avoidance, Management and dispute resolution procedures Flashcards
When should you carry out conflict of interest checks and why?
Before every instruction
To ensure we are acting in the best interests of our client
To ensure there is no competing interest.
When should you disclose a conflict of interest?
If past work has been carried out, but does not relate to the current instruction but all parties should be made aware of.
How would you avoid a conflict?
Conflict Avoidance - Do not accept the instruction
Conflict Management - Chinese Wall
Identify the conflict early through good management and processes, records
What third party determination options are there in relation to rent review and lease renewals?
Negotiations - First port of call
Mediation - A non binding negotiation with neutral
Arbitration - A binding decision from Appointed under the Arbitration Act
Expert Determination - A specialist (often a surveyor) provides a binding valuation based on market evidence
Litigation - court determines
What RICS regulations are there relating to conflicts and disputes?
Set out in the RICS Rules of conduct
RICS Conflicts of interest Professional statement (1st Edition) 2017
RICS Independent expert determination (PS) 1st Edition
RICS Conflict avoidance and dispute resolution in construction (1st Edition)
RICS Surveyors acting as expert witnesses 4th edition, amended February 2023 (GN)
What’s included in your firms complains handling procedure ?
Located on our website, internal intranet and can be requested.
Arnolds Keys procedure sets out:
A) who the Complaints Officer is
B) Acknowledgement of complaint within 3 working days
C) Within 15 working days a writing response providing outcome of investigation and actions taken
D) If unsatisfied after the final in-house stage or after 8 weeks, you can request a free independent review.
The Property Ombudsman and Centre for Effective Dispute Resolution.
(RICS model CHP 7 day acknowledge / 28 day investigate response )
What are the different types of conflict?
Party - acting on behalf of two clients.
Own Interest - Benefits yourself financially
Exposing Confidential Information.
What is the RICS Dispute Resolution Service?
The service provides impartial, professional solutions for resolving disputes in the build environment known as alternative dispute resolution (ADR).
Mediation
Arbitration
Adjudication (construction disputes)
Expert Determination
What is a Calderbank Offer?
A calderbank offer is a letter, expressed as ‘without prejudice save as to costs’, which contains an offer to the other party inviting to settle without taking the matter further to arbitration.
Please explain your understanding of the term conflict of interest?
Where someone in a position of trust has a competing personal or professional interest making it difficult for them to fulfil their duties impartially.
