THE LETTING PARTNERSHIP LIMITED
Client Money Agent Review
Terms & Conditions
(April 2021)
The Letting Partnership Limited (TLP) is a company specialising in providing client accounting and client money protection services to letting agency businesses operating within in the United Kingdom.
Registered in the UK under company number 4906558 and registered office at Second Floor, 3 Liverpool Gardens, Worthing, West Sussex BN11 1TF.
1. Definitions
The following expressions shall have the following meanings:
1.1 “We” means The Letting Partnership. “You” means the agent or agency named in the Client Money Agent Review, any person acting on behalf of the agency or any person who completes the Client Money Agent Review Questionnaire on the agent or agency’s behalf.
1.2 “Client Money Bank Account/s” means all bank accounts where monies received from applicants, tenants, landlords or any other source that is or would be deemed as ‘client monies’ are deposited.
1.3 “Intellectual Property Rights” means any patent, trademark, service mark, registered design, copyright, design right, right to extract or exploit information from a database, database rights, know-how, confidential information or process, any application for any of the above, and any other intellectual Property Right recognised in any part of the world whether or not presently existing or applied for.
1.4 “Deposit Protection Provider” means the company or companies providing tenant deposit protection services appointed at the time of the tenancy as regulated by the Housing Act (England & Wales) 2004, The Housing (Scotland) Act 2006 and The Tenancy Deposit Schemes Regulations (Northern Ireland) 2012
2. Usage of the Service
2.1 The Client Money Agent Review has been designed and is carried out to assess the ‘health’ of client money accounts and the ways in which an individual agent or multi-agency business handles client money. It is an analytical programme that uses trading and operating data together with details of client money banking transactions and deposit provider records supplied by you to identify discrepancies in client money accounting, tenant deposit protection and areas of non-compliance.
2.2 By submitting a completed Client Money Agent Review Questionnaire and supporting documents as requested as part of the Client Money Agent Review process You warrant that all of the information provided is true and accurate at the time of submission.
2.3 By submitting a completed Client Money Agent Review Questionnaire and supporting documents as requested as part of the Client Money Agent Review process You on behalf of the company named as applicant in this Questionnaire are hereby authorising all relevant Deposit Protection Provider(s) to release full details of all tenant deposits registered with them by You within their insured or custodial schemes to The Letting Partnership.
2.4 By submitting a completed Client Money Agent Review Questionnaire and supporting documents as requested as part of the Client Money Agent Review process You on behalf of the company named as applicant in this Questionnaire give consent for The Letting Partnership to make any enquiries with any party to verify and confirm the information provided in the supporting documents by You.
3. Intellectual Property Rights
3.1 The system and analytical programme which has been used to create the Client Money Agent Review Questionnaire and the subsequent Client Money Agent Review Report is and remains at all times the property of The Letting Partnership Limited.
4. Fees and Payment
4.1 Where applicable Client Money Agent Review fees and terms of payment are published on the introduction pages of the Questionnaire and are subject to change. All fees are subject to VAT unless otherwise stated.
5. Data Protection
5.1 Data provided by You during the Client Money Agent Review process will be held on a secure server and be treated as confidential at all times with the exception of clauses 6.1 and 9.2 below. When the final Client Money Agent Review Report has been completed and dispatched any documents supplied in paper form or printed out from electronic files/folders will be immediately destroyed in accordance with the requirements laid down in the Data Protection Act 2018 and General Data Protection Regulations. Data Protection Policy full details can be viewed by clicking here.
6. Financial Reporting – Irregularities
6.1 If at any time during the Client Money Agent Review process We believe there to be any unexplained activities that could reasonably be regarded as irregular under existing industry codes of practice in relation to the way or ways You handle and process client money including tenant deposits. We reserve the right to fully disclose our concerns to the relevant redress scheme(s), any letting industry regulators and/or any trade body that You or your firm/organisation holds membership with and where the Service User operates their business as a franchise to the franchisor. We also reserve the same right to pass our concerns on to the Police should we have reason to believe You are or have acted fraudulently in respect of the handling of any or all client money.
7. Disclaimer
7.1 The Client Money Agent Review process relies wholly on the accuracy and truthfulness of the information and documents provided by You.
7.2 The Client Money Agent Review and/or the completed Client Money Agent Review Report does not constitute an audit.
8. Service Provider Warranties
8.1 Client Money Agent Review s will be carried out with all reasonable skill and care however no representation or warranty is given that the Client Money Agent Review Report will be error free.
8.2 Unless expressly provided for in these Terms & Conditions all other guarantees, representations and warranties of any kind, whether expressed or implied, including without limitation, the implied warranties of satisfactory quality, merchantability and fitness for a particular purpose or ability to achieve a particular result are hereby excluded, so far as such exclusion or disclaimer is permitted under the applicable law.
9. Delivery
9.1 We aim to provide a final Client Money Agent Review Report within 10 working days of receipt in our offices of the completed Client Money Agent Review Questionnaire and all supporting documents required/requested. On occasions this may not be possible due to reasonable mitigating circumstances i.e. further detail or clarification of information initially provided is required to complete the process.
9.2 By agreeing to the Terms & Conditions You consent to Us simultaneously providing the person or organisation on whose request You completed and submitted the Client Money Agent Review Questionnaire with a full copy of Your completed Client Money Agent Review Report.
10. Confidentiality
10.1 We shall not disclose any information relating to You learned or observed during the course undertaking Client Money Agent Review assessment save for the exception of clauses 6.1 and 9.2 above.
10.2 The undertakings contained in clause 5.1 above shall not apply to information that is already public knowledge or becomes so at a future date (otherwise than as a result of a breach of this clause) or which is ordered to be disclosed to a regulatory body or a court of competent jurisdiction.
11. Force Majeure
11.1 We shall not be liable to You for any delay or failure in carrying out the Client Money Agent Review if the delay or failure results from events or circumstances outside of our reasonable control.