Need to Know Mandatory Flashcards
Rules of Conduct 1
Be honest and act with Integrity and comply with the professional obligations, including obligations to the RICS
-Valuation - don’t mislead others
Rules of Conduct 2
Maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
-Don’t offer advice on VAT
Rules of Conduct 3
Provide good quality and diligent service.
- comp checked
Rules of Conduct 4
Treat other with respect and encourage diversity and inclusion
- don’t bully or victimise anyone
Rule of Conduct 5
Must act in the publics interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.
- respond to any compliant made against them promptly
- Support directors, partners, employees, colleagues, or clients who have acted in good faith to report concerns.
- Members and firms ensure that public statements made by the firm, or in which members are (or could be) identified as members of the profession, do not undermine public confidence in the profession.
- Members and firms respond to complaints made against them promptly, openly, and professionally.
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Five ethical standards
CHRRIS
Honest,
Integrity,
Competence,
Service,
Respect
Responsibility
Latest article you’ve read
A property problem: there are millions of empty homes
In UK there are 5% empty homes
Empty home tax like they do in Vancouver. - to address housing shortage.
What should an effective CPH have?
- be fit for purpose
- made available to all staff
- be understood by all staff
- readily be shared with complainants or
potential complainants - be regularly reviewed at a senior level
- be agreed with PII brokers/provider(s)
- provide details of access to independent redress if the
firm cannot resolve the complaint
What are RICS CHP?
Acknowledge within 5 days
Response within 28 days
Resolved by a phone call or detailed review.
If not satisfied - can requested complaint to be considered by the independent service complaint reviewer within 15 days.
What does RICS say needs to be in place for customer complaints?
- Complaints handling procedure
- Include ADR procedure
- Easily signposted to clients
Presuming you’re aware of the complaints handling procedure. What happens if you cannot resolve a complaint with a client?
The complaint would be referred to a 3rd party redress scheme/ independent ombudsman.
What is the Building Safety Act?
The Building Safety Act 2022 is a law that aims to improve the safety and accountability of the UK’s construction industry. It was introduced in response to the Grenfell Tower fire in 2017.
New regulations on how high rise buildings are to be constructed maintained and made safe
It became clear that there was a need for government to step in and change legislation for high rise buildings.
How does the Building Safety Act affect you?
-Project cost implications for compliance
-Life cycle costing and safety driven specification (longer term safety materials)
-Impact on risk management and cost forecasting
-Ensuring compliance in contract - ensure contract has a provision with SOA about BSA if using 2016
-Procurement strategies - proven safety records when selecting contractor
-Value engineering - do not compromise compliance or safety standards
-Post completion and handover - safety related information be mainted and handed over in the ‘Golden Thread’ of information
Handover- fund are allocated for detailed documentation, digital storage solutions, training for building operators on maintaining safety standards.
What is high rise buildings.
18 metres tall or higher
7 seven storeys, with two or more residential units
defined as higher risk
What are the new regulations about BSA?
- the way that projects are delivered
- responsibilities and appointment of new duty holders.
- designers and contractors where competent hold new duties and responsibilities for the projects.
Building owners of higher-risk buildings need to understand how to manage their buildings post occupation, including how the golden thread is maintained.
This new duty holder position is not to be confused with the duty holders created by the Construction (Design & Management) Regulations.
What are the difference gatway for BSA
The Building Safety Act has three gateways that a construction project must pass through to proceed to the next stage:
Gateway 1
The planning stage, where applicants must demonstrate that fire safety is a key consideration
Gateway 2
The preconstruction stage, where the Regulator must approve the application before construction can begin
Gateway 3
The completion stage, where the Regulator must approve the design and construction before the building can be occupied
What is Health and Safety at Work Act 1974
Aims to protect people from the risk of injury or ill health by: Ensuring employees’ health, safety and welfare at work
What is the Golden Thread
Concept in the BSA that refers to keeping a digital record of crucial building information.
Starting from the design phase and continuing throughout the building’s lifecycle.
The golden thread aims to ensure that the right people have the right information at the right time to keep buildings safe.
It includes details about the building’s design, construction, materials, systems, and maintenance.
The golden thread is a crucial tool for ensuring the safety of high-risk buildings.
What is the HSE?
Britain’s national regulator for workplace health and safety. It prevents work-related death, injury and ill health.
If you saw an incident on site what would you do?
Report to site supervisor and health and saftey mananager
What is within a site induction?
Site rules and requirements.
Importance of PPE
Register
Clearly identify particular hazards and risks.
Confirm expected behaviours on site
Outline of the project;
Management of the project;
First-aid arrangements;
What to do incase of emergency
What would you expect to see within a Business Plan?
an executive summary
a business description
a market analysis and strategy
a marketing and sales plan
an analysis of the competition, including their services
an operating plan
detail of company structure
financial analysis
objectives or goals
summary of the strategy.
What are the changes to the dispute resolution procedures under the JCT 2024
- new provision obligating senior executives from each party to meet and negotiate in good faith to resolve disputes before escalating to formal adjudication.
- Parties are required to specify their own adjudicating nominating body
- supplemental provision relating to notification and negotiation of dispute is now a contract condition.
What are the 7 key principles in the GDPR (General Data Protection Regulations)
LAD SPA I
LAD SPA I
L – Lawfulness, Fairness, and Transparency
A – Accuracy
D – Data Minimization
S – Storage Limitation
P – Purpose Limitation
A – Accountability
I - Intergrity and confidentiality
How do you encourage Inclusivity?
- recognise different religious believe so set meetings at certain times during Ramadan etc
- use inclusive language no jargon
- attend cultural cuisine - insight into other culturals
What are the Individual rights in GDPR
AID OPERA
AID OPERA
A – Access
I - Informed
D – Data Portability
O – Object Processing
P – Rescrtirct Processing
E – Erase
R – Rectifitfy
A – Automated Decision-Making
RICS Principles of better regulation
Think PACTT
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency
What are the Types of Conflict Intrest
Types of Conflict of Interest:
- Party Conflict – a situation in which the duty of an RICS member or a regulated firm to act in the interests of a client or other party in a professional assignment conflicts with a duty owed to another client in relation to the same or a related professional assignment.
- Own Interest Conflict – a situation in which the duty of an RICS member or a regulated firm to act in the interests of a client or other party in a professional assignment conflicts with the interests of that same RICS member/firm.
- Confidential Information Conflict – a conflict between the duty of an RICS member or to provide material information to one client, and the duty of that RICS member to maintain confidentiality of Confidential Information to another client.
What is Assigned Risk Pool?
A scheme that provides temporary professional indemnity insurance (PII) to RICS-regulated firms in the UK that are unable to get PII from the insurance market.
The ARP offers insurance for a period of up to 12 months on RICS Minimum Terms
What is client money
Client money is money of any currency that RICS regulated firm hold or recieve on behalf of a person
If a Client was prepared to pay you in advance for services you or your company were providing, how would you ensure that it was dealt with?
- I would that a client account is set up, in line with the rules of Conduct for firms: Handling Client Money.
- I would issue a statement of the account once it has been set up.
- I will agree with the Client how the monies will be drawn down.
- I would issue a revised statement every time I draw down money.
- Once the works are complete, I would provide the Client with a reconciliation of the account, identifying when the monies were drawn down etc.x
Payment from Client Account
- Use client money only for client matters.
- Ensure client money is returned to the client asap if there is no longer reason to retain those funds.
- All payments from account are made on behalf of the client.
- Check sufficient funds are being held before making payment
- Obtain written consent from client for standing orders or direct debits
Run off Cover
- Run off cover is a PII policy that comes into effect when a business stops trading.
- Claims made under it will relate to work being carried out before trading is stopped.
- RICS requires a firm to hold it for 6 years minimum.
- Ensures clients, firms and members are not exposed to financial detriment following a company stopping trading.
Locum
- A locum agreement is effectively another professional who is appointed to ‘stand in’ for the surveyor if they are unable to work.
- Typically, another chartered surveyor but could also be another trusted professional.
