Rules 10; 11 & 12

Question 1

What is Rule 10?

Answer 1

Rule 10 is about Advertising.

Question 2

With regard to rule 10 what must a firm not do?

Answer 2

A firm must not promote services that it does not do or cannot undertake EG - Structural Engineer

Question 3

What is Rule 11

Answer 3

Solvency

Question 4

With regard to rule 11 what must a member or firm not do?

Answer 4

A firm and member must not become bankrupt.

Question 5

What is Rule 12?

Answer 5

Rule 12 relates to Incapacity or Death of a Sole Practitioner.

Question 6

A) Relating to Rule 12 what must a Sole Practitioner have?

And

B) What are the reasons for having one?

Answer 6

A) A sole practitioner should have a LOCUM in place.

B) 1) Long term absence from illness.

2) Death
3) Long term holiday (+ month)
4) Unforeseen or unavoidable events.

Question 7

What should a sole practitioner consider relating to Rule 12?

Answer 7

1) A Locum agreement
2) Professional Indemnity Insurance
3) Accounts
4) Access to account and documents (passwords etc)
5) Possibly selling your practice
6) Notifying RICS