Hot Topics 2024 Flashcards
Are you aware of any guidance that applies to RICS Members when using Social Media?
A)
- The RICS introduced the guidance note “Use of social media for members Version 1”
- This took affect from 30th June 2021
- The guidance note sets out the same standards as stipulated in the RICS rules of conduct and reminds members that these do not change whether communicating via social media, face to face or traditional forms of media.
How do you ensure you operate inline with RICS guidance on the use of social media?
- I am always sure to use social media in a responsible and professional manner in the same way that i communicate via face to face or other written forms of communication
- I am sure to use professional and respectful language when communicating and understand the responsibility in representing the RICS
- I would never make a post that is dishonest or would cause offence in any way
- I realise that this could potentially undermine public confidence and trust in the profession
When would the RICS investigate a social media post made by one of its members?
An investigation may take place if a social media post is:
- Discriminatory
- Dishonest
- Abusive or threatening
- Likely to cause significant harm, distress or offence to a person
- shows a pattern of frequent or large number of concerning communications
- ignores previous advice or warnings about concerns
Please explain your understanding of the RICS black book document updates?
- The RICS Black Cook documents provide best practive guiadance and knowledge for Quatity surveyors on complex areas such as Acceleration, Contract Selection, Cashflow Forecasting and Cost analysis.
- The RICS is currently undertaking a review to update the Black Book content with the aim of producing a new edition with improved presentation and navigation
- Several of the out of date publication have now been withdrawn due to contract, legislation and case law changes.
Please explain your understanding of the domestic reverse charge?
- Domestic reverse charge was introduced in October 2020 and is a new approach for charging VAT on suppliers and subcontractors within the construction industry.
- Following the changes, main contractors will no longer make VAT payments to their supply chain and instead will now pay HMRC directly
- this results in suppliers and subcontractors no longer receiving the 20% VAT value on invoices which previously served as a short term loan until the supplier paid the VAT to HMRC
What effect do you think the domestic reverse charge has had on the construction industry?
- As a short term effect, the reverse charge has resulted in a reduction in cashflow for suppliers and contractors.
- A longer-term effect may see prices within the construction industry increasing as suppliers will need to recover this shortfall or seek short term borrowing arrangements at a direct cost to themselves.
Please explain you understanding of the RICS Inclusive Employer Quality Mark?
- The scheme requires employers to pledge their commitment to adopting and continually improving against the following 6 principles:
- Leadership and vision
- Recruitment
- Staff development
- Staff retention
- Staff engagement
- continuous improvement
This will be assessed on a bi annual basis.
What are the main benefits of diversity of inclusion?
Diverse and inclusive environments help to:
- Attract skilled professionals from diverse backgrounds
- Establishes a sense of belonging among employees
- Encourage employees to feel more connected
- increases productivity
- reduces staff turnover
- allows employees to feel valued and accepted
What is the RICS doing to improve diversity and inclusion?
- The RICS has setup “Diversity and Inclusion leadership” which is a knowledge hub allowing the RICS to share ideas on how and why diversity & inclusion is so important to the RICS.
- This has included initiatives such as:
- Intertnational womens days celebrating the acheivement of women in our profession
- Pride 2023: LGBTQ+ equality pledge focusing on the importance of LGBTQ+ representation in the profession
What are some of the changes for the JCT 2024 edition of contracts?
Modernising and streamlining
Including adoption of gender-neutral language, and increased flexibility around the use of electronic notices.
Extensions of Time
New relevant events will be introduced to include epidemics and the exercise of ‘statutory powers’. The time available to the Employer to assess interim extensions of time will be reduced from 12 weeks to 8 weeks from receipt of the Contractor’s Particulars.
Loss and Expense
New relevant events and relevant matters will be introduced including new provisions dealing with unexploded ordnance, contaminated materials and asbestos.
Liquidated Damages
Where works are not complete at termination, LADs can be levied up to termination and subsequently general damages following the Supreme Court’s decision on Triple Point Technology Inc -v- PTT
Public Company Ltd.
Payment due date after termination
Addition of a payment due date after termination which will reduce uncertainty.
Disputes
A new requirement for parties to notify potential disputes to senior executives to seek a negotiated settlement but this will not cut across either party’s right to refer a dispute to adjudication at any time. In place of a shortlist, parties can now choose their own adjudication nominating body.
Fluctuation
Incorporation of the new JCT Fluctuations Hub launched in 2023, a resource to help the construction sector respond to growing economic uncertainty and volatility in the market and how to correctly apply the options available under the JCT suite. The fluctuation provisions will also be moved to an online document.
Legislative changes
Major updates in relation to the Building Safety Act; Termination accounting and payment provisions reflecting the Construction Act; and new insolvency grounds reflecting the Corporate Insolvency and Governance Act 2020.
Future Proofing
Reflecting the objectives of the Construction Playbook, and incorporating existing optional supplemental provisions relating to Collaborative Working, and Sustainable Development and Environmental Considerations.
New form of contract
The introduction of a new contract family, JCT Target Cost Contract (TCC), comprising main contract, sub-contract, and guide, which will likely be a alternative to the NEC Option C ECC form of contract.
Why was the Building Safety Act introduced?
Following the Grenfell Tower fire in London in June 2017, it became clear that there was a need for government to step in and change legislation for high rise buildings (HRBs) so that a tragedy like this never occurs again. It builds on the recommendations within Dame Judith Hackitts’ Independent Review of the Building Regulations and Fire Safety final report published in May 2018. RICS has been working closely with and advising government on the changes.
What are the parts of the Building Safety Act?
Is there a summary of the Act available?
The Act is the most comprehensive piece of legislation to hit the built environment in decades. It is divided into 6 Parts;
Part 1: Introduction
Part 2: The Regulator and its functions
Part 3: Building Act 1984
Part 4: Higher-risk buildings
Part 5: Other provisions about safety standards, etc
Part 6: General
