Conflict avoidance, management and dispute resolution Flashcards
What is the RICS Cap process?
Contractual mechanism which helps parties avoid prolonged and damaging disputes. It enables contracting parties to identify and dispose of emerging disputes early.
What is Conflicts of Interest 1st Edition?
Outlines the mandatory requirements for RICS members and regulated firms to identify and manage conflicts of interest.
Aims to maintain transparency, public confidence, and integrity in the investment market.
What proactive measures do you take in your role to avoid disputes?
I ensure I hold a introductory meeting with any new instruction. I ask anyone I communicate with for their preferred method. Abide by the rules of conduct when I work.
What is the RICS DRS?
Dispute resolution service. Various methods including, mediation, arbitration, adjudication.
What is your companies complaints handling procedure?
3 stages, informal, formal and appeal.
What is the RICS’ complaints handling procedure?
Two stage process:
Stage 1 - Complaint raised and sent to CHO. Acknowledged in 7 days, outcome in 28 days.
Stage 2 - ADR by an RICS approved redress provider.
What are the three main processes to resolve disputes?
Mediation, adjudication and arbitration
What is mediation?
An impartial party to assist in conflicting parties reaching a resolution through communication.
What is adjudication?
the process or act of making an official decision about something, especially about who is right in a disagreement. Not legally binding.
What is arbitration?
dispute is resolved by an independent arbitrator or panel of arbitrators, rather than a court. Legally binding
What is litigation?
process of taking a legal case to court to resolve a dispute.
