New Conveyancing Quality Scheme
The Conveyancing Quality Scheme is a new scheme launched by the Law Society with the aim of standardising quality in residential conveyacing practices.
It is a paid membership, which is entirely optional; however, how long do you think it will be before lenders start providing all of their work only to scheme members, as happens with other similar panel type memberships?
There may also be another reason behind the introduction of the scheme. When reading the application form for the Scheme, the author noticed that Questions 47 to 67 are almost directly out of the Lexcel standard, and for those firms not aleady accredted, may present som difficulty in answering. For example, question 50 - "Does the Practice have procedures in place to monitor/review files of individual staff members?" Or question 51 - "Does the Practice have procedures to deal with designated risk maagement, reporting process on risk issues, list of work the Practice will and will not undertake, details of generic risks and causes of claims associated with areas of work that are undertaken by the practice, and instructions for managing higher risk profile work?"
If you are the person filling in the application, the "Senior Responsible Officer (SRO) and these questions give you some pause for thought, then you also want to consider the other relevant statement in the application pack -
"bear in mind when completing these questions that the Practice could be subject to an audit by a scheme assessor. At that stage the Practice may be asked to provide the documentary evidence of the processes being in place or 'working towards.'"
In summary then, if you are a Lexcel Practice already, the form should be easy.
If you don't register for the scheme, then you could lose out to those who do.
And finally, you may be subject to future audit at some point as a scheme member, so you will need to complete the application as accurately as possible.