The CAAV’s Bylaw setting out the professional standards expected of members states:
1 Each member shall in all points of business act professionally and with probity, diligence, honesty and integrity and shall discharge all professional duties:
- with due care, attention, competence and respect for all parties
- honouring, as relevant, the duties of a professional to a court, tribunal or equivalent forum
- with the objective and independent exercise of professional judgement upholding and demonstrating these professional standards in that work, so as to maintain the reputation of the Association and that of the member as a professional.
2 Members shall:
- be open and accountable to clients in undertaking professional work for them
- advise clients in writing when a conflict of interest arises prior to or in the course of an instruction
- maintain a separate clients’ account or accounts to hold money entrusted to them for clients.
Those conducting auctions or sales on terms that
- do not hold out that funds received for sales at such events are held on trust for clients; and
- assure vendors of payment whether or not monies are received from the purchaser of any lot
- are not required by this bylaw to hold such funds in a clients’ account.
3 Members shall:
- keep themselves abreast of all professional matters and current developments relevant to their professional work so as to maintain and develop their competence and shall encourage the competence required in staff for whom they are responsible
- where in private professional practice or otherwise applicable, directly or through their firm or employer, at all times be covered by a level of professional indemnity insurance appropriate to all aspects of their professional business, including run-off cover. Those Fellows who draft documents relating to purported farm business tenancies which must be made by deed must provide cover for this work
- where practising as a sole practitioner, partner or director ensure that there is a written procedure for the handling of complaints concerning professional conduct, shall advise clients of the existence of this document and follow its requirements.
It shall be sufficient for the purposes of this Bylaw that a Fellow can satisfy the Association that the obligations of this Bylaw are met by membership of a recognised professional body approved for such purposes by the Council.
[By resolution of 19th April 2001, the Council agreed that “For the purposes of Bylaw 3.2, (now 5.3) the obligations of corporate membership of the Royal Institution of Chartered Surveyors are accepted as satisfying the demands of that Bylaw.”]
4 No member:
- is to be connected with any occupation or business in any way which would, in the opinion of the Council, prejudice the professional standing of the member or the reputation of the Association.