Agreements, Protection and Acknowledgement
You also agree to the following:
- 2. You will co-operate with any investigation the Ombudsman carries out under his Terms of Reference (as amended from time to time).
- 3. You will act in line with any award which is made against you and which can be enforced against you under the Terms of Reference. If you are asked to pay a monetary award you must pay the complainant the full amount of the award within the period for payment set out in the Terms of Reference.
- 4. You will have in place and run an appropriate internal complaints procedure which meets the requirements of any professional organisation you are a member of or in the form set out in the guidelines that you can see on our website.
- 5. If you are a TPO Member you will keep to the relevant Codes of Practice (as amended from time to time). Registered agents must work to 'best practice'.
- 6. You will include all branches operating with the same trading name regardless of their legal status (for example, company, partnership, franchise) and help us in any matters that arise in connection with any of your branches (whether owned, separately owned or franchised). Please note that each business must submit a separate deed.
- 7. You will pay any subscriptions that are due within 28 days of the date of the invoice.
- 8. You will have professional indemnity insurance which must include cover for any award(s) the Ombudsman makes against you. Such cover must be for a minimum of £100,000. The excess for any award(s) (i.e. the amount you must pay towards the award) must not exceed £1,000; and the endorsement L1391 is included in the policy if the excess is above £1,000.
- 9. If you are a member agent for lettings, you will keep clients' money in a separate client account held in a financial institution authorised under the Financial Services and Markets Act 2000.
- 10. You will provide a recent auditor's report of your client account if requested by TPO.
- 11. You will give at least one month's notice if you want to end your membership. The Ombudsman will continue to deal with complaints which have formally been referred to us and fall within the Ombudsman's jurisdiction if they occurred on or before the date your membership ends. Please note that TPO subscriptions are non-refundable.
- 12. As far as you are aware, no Trading Standards Office or any other regulatory body is taking, or considering taking, disciplinary action against any person named on this application form (including the firm or business applying for membership and any branch of that firm or business), or any other person who works for you.
Protecting us against loss
You must cover us against all liabilities, costs, expenses and damages we suffer arising out of or in connection with you or any of your branches breaking any of the terms and conditions in this application form or the Terms of Business.
You acknowledge and agree on behalf of the applicant (on its own behalf and on behalf of all Associated firms) that for all purposes, (including for the purposes of the Contracts (Rights of Third Parties) Act 1999), this deed and the Terms of Reference shall be enforceable against the Applicant
- By or on behalf of each complainant in relation to and to the extent of any Awards; and/or
- By the Company or any member of the company
You acknowledge and agree, on behalf of the applicant that, in the event of it being fined, issued with a formal warning or ceasing to be a member of the Company, or registered for redress, following any breach by you of the responsibilities set out above, we may:
- Notify any professional body named by you at Section B, and any other relevant authority that your membership has ended and the circumstances surrounding that (including details of the breaches)
- Publish the fact that your membership has ended and details of the circumstances surrounding that (including details of the breaches) by such means as we consider appropriate.