Ethics Flashcards
What are the requirements for a RICS regulated firm?
Provide surveying services
The firm must offer surveying services to the public, corporate, institutional, or professional clients
Meet eligibility criteria
At least 25% of the firm’s principals must be qualified RICS professionals (MRICS, FRICS, AssocRICS)
Comply with Rules of Conduct
The firm must adhere to the RICS Rules of Conduct, which are based on ethical principles like honesty, integrity, competence, service, respect, and responsibility
Have a complaints handling procedure
The firm must have a complaints handling procedure that includes an Alternative Dispute Resolution (ADR) mechanism approved by the Standards and Regulation Board
Appoint a Responsible Principal
The firm must designate a Responsible Principal to oversee and ensure compliance with RICS standards and regulations
Have professional indemnity insurance
The firm must have professional indemnity insurance (PII)