Client money handling procedures.

1. Introduction

Fairhurst Buckley Ltd is regulated by the Royal Institution of Chartered Surveyors (RICS) and adheres to the RICS Professional Statement on Client Money Handling. This document sets out our procedures for handling client money to ensure transparency, security, and compliance with regulatory requirements.

2. Client Money Account

• All client money is held in a designated Client Money Account that is separate from the firm’s operational funds.
• The account is maintained at an FCA-authorised bank.
• The account is named “Fairhurst Buckley Client Account or C/A” and is under the exclusive control of our firm, of which only senior members of staff have access.
• The bank details of the account are provided to clients when required.

3. Payment into the Client Money Account

• Client money is promptly deposited into the Client Money Account upon receipt.
• Each transaction is recorded with relevant details, including the client’s identity and purpose of payment.
• Funds are only received via approved payment methods (e.g., bank transfers & cheques).

4. Payment Out of the Client Money Account

• Client funds are only withdrawn to settle legitimate expenses, returns, or disbursements.
• Payments are authorised by a designated senior officer and recorded for transparency.
• No payments are made to third parties without the client’s written consent.
• Client funds are never used to settle business liabilities.

5. Client Money Reconciliation

• Client accounts are reconciled at least monthly to ensure accuracy and compliance.
• Any discrepancies are investigated and resolved promptly.
• Reconciliation records are retained for a minimum of six years.
• The designated client bank account incurs no interest or charges.

6. Unidentified Funds

• If unidentified funds are received, reasonable efforts are made to trace the sender.
• If the sender cannot be identified within a reasonable period, the funds may be returned to the originating bank.
• If unclaimed for more than three years, the funds may be transferred to a registered charity in accordance with RICS guidance.

7. Client Money Protection

• Fairhurst Buckley Ltd is a member of the RICS Client Money Protection Scheme.

8. Record Keeping

• Full and accurate records of all client money transactions are maintained.
• Statements and receipts are issued to clients as appropriate.
• Records are kept securely for at least six years.

9. Reporting and Auditing

• Client money handling procedures are subject to internal and external audits.
• Annual reports are provided to RICS where required.
• Any discrepancies or breaches are reported in accordance with RICS regulations.

10. Contact Information

For any inquiries regarding our client money handling procedures, please contact Fairhurst Buckley on 0161 476 9476

This procedure is reviewed periodically to ensure ongoing compliance with RICS requirements.

Fairhurst Buckley Ltd | Effective Date: 01/04/2020 | Date of Last Review: 21/01/2026