{"id":28240,"date":"2022-01-27T15:26:45","date_gmt":"2022-01-27T13:26:45","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=28240"},"modified":"2022-01-27T15:26:45","modified_gmt":"2022-01-27T13:26:45","slug":"property-practitioners-act-instalment-2","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-2\/","title":{"rendered":"Property Practitioners Act | Instalment 2"},"content":{"rendered":"

What changes are required to your mandate and other documentation?<\/strong><\/p>\n

This is #2 in our short series of 10 instalments on the most important requirements that you must implement to be ready and compliant with the Property Practitioners Act on 1\u00a0February\u00a02022.<\/p>\n

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  1. On all letterheads and marketing material<\/strong> a guarantee regarding the existence of a Fidelity Fund Certificate must appear. The wording is prescribed, and is as follows:
    \n\u201cRegistered with the PPA\u201d.<\/li>\n
  2. All agreements<\/strong> must contain a sentence with the following prescribed wording:
    \n\u201c(Insert name of property practitioner named in the agreement) hereby warrants the validity of his\/her\/its Fidelity Fund certificate as at date of signature of this Agreement.\u201d<\/li>\n
  3. Make provision, in your lease and sale agreements (and even in the mandate as well), for attachment of the prescribed Disclosure Form<\/strong>. The regulations require that the Disclosure Form must be completed by the landlord\/seller before a mandate is concluded. For more detail relating to the Disclosure Form, see #1<\/a> in this series.<\/li>\n
  4. All emails, letters, contracts, business cards, marketing material and similar communications<\/strong> must reflect the following:\n