Professional Obligations

Question 1

What are the professional obligations of members

Answer 1

1 - Members must comply with the CPD requirements set by the RICS which requires 20 hours of CPD for each calendar year, 10 hours of which must be formal CPD CPD

2 - Members must cooperate with RICS COOPERATE

3 - Members must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf PROVIDE

Question 2

What are the professional obligations of firms

Answer 2

1. Firms must publish a complaints handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log Complaints
2. Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS PI
3. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work Locum
4. Firms must cooperate with RICS Cooperate
5. Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf Provide inform
6. Firms must display on their business literature, in accordance with the RICS published policy on designations, a designation to denote that they are regulated by RICS Designations
7. Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms
   Report to the RICS

Question 3

What sort of information do registered firms have to send to the RICS annually

Answer 3

· Type of business and staffing Staff numbers
· Nature of clients Nature of clients
· Complaints handling procedures details and records CHP
· PI insurance details PI
· Whether the firm holds clients’ money Client money
CPD CPD