As another year begins, now is a good time to undertake a review of the current policies and procedures your business has in place from the beginning of taking client instructions to issuing final documents for signature.
It is important to ensure you have a smooth, secure and tight process in place in order to ensure both efficiency and compliance.
Terms of Business
Ensure you have a detailed terms of business in place which sets out the terms on which the client has engaged your services. Your terms of business should include but not be limited to: –
- What the company undertakes to do
- What is expected from the client
- Refunds
- Notice of the right to cancel
- Liabilities
- Where to direct any complaints.
Cancellation Form
A client has the right to cancel their contract within 14 calendar days in accordance with The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013.
The Consumer Contracts Regulations 2013 applies to contracts between a business and a consumer which is either made online, over the phone, or away from the business premises (off-premises). Where the business was made by either of the above, by law the client has a 14-day cooling off period where they can cancel.
Please note this does not apply to business that has taken place face to face in your offices.
Ensure you have a clear cancellation form in place.
Identification
Before you commence any work, it is important to ensure you have obtained identification from your clients and that you have a copy of their ID on file. This is in accordance with the Money Laundering Regulations 2007.
File Administration
Next it is important to ensure your files are always kept up to date whether you store paper files or electronically. Where paper files are stored, it is important to ensure they are stored in a secure, fireproof and locked cabinet.
Each client file should include: –
- ID
- Signed terms of business
- Attendance notes
- Letter correspondence
- Email correspondence
- Draft and signed Wills
- Registered or unregistered LPA’s
- Letter of wishes
- Severance of tenancies
- Title registers for any properties held by the client
At the end of the matter, it is a good idea to ensure your documents are all up to date and backed up in any software you use or, if not, kept safely in your client file.
It can also be a good idea to schedule a reminder for when to contact the client for a review of their documents next. We advise that a Will should be reviewed every 3-5 years or sooner if there’s a material change in the client’s circumstances. Keeping in regular contact with your clients can help ensure that their documents remain fit for purpose.
