Segregation
Your money is held seperately from JPS's own funds in a dedicated natWest client account over which JPS maintains exclusive control. Your money is never mixed with the money of another client.
JPS (Surveyors) Limited is regulated by the Royal Institute of Chartered Surveyors (RICS) and complies with the RICS Client Money Handling Professional Standard. These procedures explain how we hold and manage money received on your behalf.
When JPS receives money on your behalf, including sale proceeds, deposits, or other funds, we hold those monies in a designated client bank account at NatWest Bank. This account is help seperately from JPS's own office funds at all times and is titles to include "client" in full, in accordance with RICS requirements.
SegregationYour money is held seperately from JPS's own funds in a dedicated natWest client account over which JPS maintains exclusive control. Your money is never mixed with the money of another client.
AuthorisationAll payments out of he client account are authorised by a principal director of JPS before any tranfer made. No payment is released without that sign-off.
Accounting to YouBefore deducting any fees, we will send you a written statement of account and fee invoice showing all receipts and payments on your behalf, together with the net balance due to you. Payment is remitted to your nomincated bank account upon your confirmation.
Return of Surplus FundsAny balance remaining in the client account once your matter is concluded will be remitted to you promptly. We do not retain client money beyond the conclusion of an engagement.
ReconciliationWe carry out a formal three-way reconciliation of our client account each month, reviewed and signed off by a principal director. The reconciliation confirms that our records match the NatWest bank statement and the individual ledger balance for each client matter.
All client money records, including bank statements, receipts, payment authorities, and reconciliations, are retained for a minimum of six years in accordance with RICS and HMRIC requirements.
JPS (Surveyors) Limited is regulated by the Royal Institution of Chartered Surveyors. RICS Firm No. 063643. We are members of the RICS Client Money Protection Scheme. Our client money handling procedures comply with the RICS Client Money Handling Professional Standard, 1st Edition (October 2022)
If you have a concern about the handling of your money, please contact us in the first intance at [email protected]. If your concern is not resolved, you may refer the matter to RICS at rics.org.