RICS Regulated Firms Flashcards
What must an RICS regulated firm have?
They must have a complaints handling procedure, including an ADR procedure approved by Rics and keep a complaints log
Professional indemnity insurance
Firms with a sole principal must have arrangements for their professional work to continue in the event if their incapacity, illness, death etc
Firms must co operate with RICS
Firms must provide all information requested by the SRB
Firms must publish Regulated by RICS on their business literature
Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.
Which firms are required to register with RICS?
The firm is based in the UK
Provides surveying services to the public
At least 50% of the firm’s principals are RICS members
Which firms are eligible to register with RICS?
The firm provides surveying services to the public and
At least 25% of the firms pincipals are RICS members
What is a responsible principal?
A responsible principal will have primary responsibility for ensuring that RICS’ professional, technical and ethical standards are applied, upheld and supported by an appropriate assurance framework within a regulated firm.
