Registration Of Frims Flashcards
What is the RICS publication relating to the registration of firms?
RICS regulation - Rules for the registration of firms version 8 with effect from 2nd feb 2022
By registering your firm for ‘Regulated by RICS’ status what are you doing?
you are making a commitment to work to RICS standards in your business, and to allow RICS to verify this commitment.
‘Regulated by RICS’ designation, conveys to the marketplace that your firm:….
- Practises to globally recognised standards.
- Behaves ethically and acts with integrity and honesty.
- Has the required skills and competencies to do the job.
- Manages conflicts of interests transparently.
- Safeguards the security of client money.
6.Manages its finances appropriately.
7.Provides adequate and appropriate indemnity for your work.
8.Handles complaints and disputes fairly.
How does RICS communicate with firms
Email
Post
Telephone
Fax
In person
A firm is required to register for regulation by RICS if what??..
- The firm provides surveying services to the public
- Firm is operating in regulated area A - UK
- At least 50% of the firms principles are RICS members
A Firm is eligible to register for regulation by RICS if..?
- The firm provides a surveying services to the public
- At least 25% of the firms principles are RICS members
What is the procedure for registering for Regulation by RICS?
An application to register for regulation by RICS must:
- provide information to RICS in such form as prescribed by the Standards and Regulation Board
- agree that RICS may share relevant information about the Firm with government or other regulatory bodies as appropriate and
- agree that if RICS declines to register the Firm, RICS may publish its decision.
Upon receipt of an application from a Firm to register for regulation the Head of Regulation
may do what?
- GRANT registration
- Grant registration SUBJECT TO CONDITIONS
- Refuse registration
