Crofters Property Services Client Money Handling Procedures.

We will always maintain client money protection insurance via a recognised body. We are currently members of CMP Our current registration certificate is below

CMP

Crofters will always preserve the security of clients’ money entrusted to its care in the course business.
We will ensure that clients’ money is protected on their behalf at all times and in particular, in the following circumstances:
• Insolvency
• Misappropriation by any party
• Transfer of client money to another organisation
In the event that money should be misappropriated, Crofters will inform, UKALA and, where appropriate, the police and our insurers.
General controls
We ensure that:
• Only designated employees deal with Client money and each is fully aware of their obligations.
• Our client data and monetary systems are secure
• Our Computer systems are protected from hackers, and total loss of data.
• No employee is able to override controls of clients’ money.
We maintain Client money bank accounts
• Our clients’ money is held in one or more client bank accounts separate from all other monies and that client money is available on demand.
• We have written confirmation from our bankers that all of our clients’ accounts are bonafide client accounts the bank of the client account conditions.
• We advise all of our clients of the bank account details and our terms of business covering the handling of this money
• We advise all clients that moneys are returned without interest.
• Our systems provide details of all money received into and paid from all client accounts and show a running balance of all client money held in that account.
• the current balances at the total and client levels are always available.
• Unidentified client money is kept securely. The clients are located and reimbursed as soon as possible. Such funds held for more than six years are donated to a registered charity.
• client accounting records, including copies of reconciliations, are securely kept for at least six years plus the current year.

We ensure that:
• procedures exist to ensure all clients’ money is banked within three working days.
• All clients’ moneys are paid into out clients’ accounts.
• fees received in advance for professional work not yet billed are paid into a client
• unbanked client money receipts are kept secure.

Controls over the payment of client money
• checks are made to ensure that sufficient funds are held on behalf of the relevant client before payments are made.
• blank cheques are not signed, and unused cheques are kept securely.