Undertakings policy for property transactions
Undertakings policy for property transactions

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Undertakings policy for property transactions

    1. 1

      Policy statement

      1. 1.1

        It is the policy of [firm name] (‘the firm’) to conduct its business in compliance with the highest professional standards. We are committed to acting professionally, fairly and with integrity in all our business dealings and relationships. This document describes our approach to managing undertakings.

      1. 1.2

        The purpose of this policy is to:

        1. 1.2.1

          set out our responsibilities and the responsibilities of those working for us, in observing and upholding our position on undertakings

        1. 1.2.2

          provide information and guidance on how to deal with undertaking

    1. 2

      Definitions

      1. 2.1

        In this policy:

        'third party'

        1. means any individual or organisation with which you come into contact during the course of your work with the firm. This includes actual and potential clients, other solicitors, suppliers, distributors, business contacts, agents, advisors, and government and public bodies including their advisors, representatives and officials, politicians, and political parties

        'solicitor'

        1. includes a registered European lawyer

    1. 3

      Responsibilities

      1. 3.1

        The compliance officer for legal practice (COLP) is responsible for this policy and for supervising the firm’s undertakings arrangements. If the COLP is unavailable and a response is required, you should contact their deputy.

    1. 4

      Who is covered by this policy?

      1. 4.1

        This policy applies to all individuals working at all levels including partners, consultants, solicitors, other employees (whether permanent, fixed-term or temporary), contractors, trainees, seconded staff, home-workers, casual staff, agency staff, interns and students, agents, sponsors, volunteers or any other

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