Rule 7 for Firms - Complaints Handling Procedure Flashcards
What must all firms have?
A complaints handling procedure (CHP)
What must a CHP contain?
An alternative dispute redress (ADR) mechanism.
Name 2 ADR’s
1) TPOS = The Property Ombudsman Service
2) CEDR = Centre for Effective Dispute Resolution
What procedures must a firm have in place?
Effective procedures for handling complaints.
What does a firm owe?
A duty of care to their clients.
What might sole traders not be able to do?
Might be unable to deal with complaints themselves.
What are the stages of complaints handling?
1) Log complaint and pass to senior member or designated complaints handler.
2) If complaint cannot be resolved, referral to an independent third party with the authority to award redress.
What must an ADR be?
1) ADR must be well established.
2) ADR must be independent of the firm or valuer.
3) ADR must be transparent, accountable and a consistent decision-making process.
4) The ADR must be free to the consumer.
How long must a complaint be dealt with?
7 days to respond to a complaint.
21 days to update or deal with it.
Making a total of 28 days.
