Exclusion from scope of section 44 – CPD courses
Example: CPD courses
11. Section 44(1) and (2) of the Act shall not apply to any estate agency work — CPD courses
(a) in respect of property situated outside Singapore;
(b) in respect of commercial or industrial property;
(c) in respect of any actual or proposed collective sale of property under the provisions of Part VA of the Land Titles (Strata) Act (Cap. 158);
(d) in respect of any actual or proposed sale by a developer of property developed by the developer pursuant to a licence issued under the Housing Developers (Control and Licensing) Act (Cap. 130); and
(e) which is not expressly excluded by paragraphs (a) to (d) and for which there is no prescribed agreement under regulation 10.
Client to be informed of inability to perform agreement – CPD courses
12. An estate agent or a salesperson who is unable for any reason to perform the estate agency agreement shall inform the client immediately.
Professional indemnity insurance requirements
13.—(1) Every estate agent shall take out and maintain in force at all times during the period in which it carries out estate agency work (whether directly or through salespersons) such insurance as is referred to in paragraph (2) that is of such minimum amount as is referred to in paragraph (3). CPD courses.
(2) The insurance shall be in respect of civil liability for negligence in the performance of estate agency work. CPD courses.
(3) Subject to paragraph (4), the minimum amount of insurance cover shall be —
(a) $100,000 for an estate agent who is a sole proprietor and who does not employ or engage any salesperson;
(b) $200,000 for estate agents with 2 to 10 representatives;
(c) $300,000 for estate agents with 11 to 30 representatives;
(d) $400,000 for estate agents with 31 to 50 representatives;
(e) $600,000 for estate agents with 51 to 500 representatives; and
(f) $1,000,000 for estate agents with more than 500 representatives.
(4) For the purposes of paragraph (3) —
(a) ‘‘representative’’ means any natural person who undertakes or may undertake estate agency work;
(b) the insurance cover may be subject to limitations on the coverage or liability in respect of any particular representative only if the limit is not less than $100,000;
(c) the amount of insurance coverage may include the costs and expenses incurred in the defence or settlement of any insured claim; and
(d) any deductible that may be applicable in respect of any claim against a salesperson shall not exceed $5,000 and any claim against an estate agent shall not exceed —
(i) $5,000 for estate agents with not more than 50 representatives;
(ii) $10,000 for estate agents with more than 50 but not more than 500 representatives; and
(iii) $20,000 for estate agents with more than 500 representatives.
Estate agency work not to be performed without insurance cover
14. No person shall undertake any estate agency work without the insurance coverage specified under regulation 13. CPD courses.
Source: Estate Agents (Estate Agency Work) Regulations
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