AGENTS

An account that is separate from the firm's business account and is ring-fenced which is free of lien, charge or adverse claim and is retained for the specific purpose of holding client money only.

CMP requires members to have at least one designated ring-fenced client account. In order to clearly distinguish deposits and rents CMP do recommend two separate accounts, one for the deposits and one for rents.

No, CMP provide full cover with no inner limits.

Client money is money that a firm holds / receives from a client such as rent and deposits.

CMP is licensed in England by the Ministry of Housing, Communities and Local Government (MHCLG) and is recognised in Scotland by the Scottish Ministers and Wales by the Welsh Ministers.

CMP does not cover rent when the landlord has entered into a guaranteed rent or rent to rent type arrangement. This is a commercial arrangement between the parties and the rent which should be paid to the landlord is not client money.

LANDLORDS & TENANTS

CMP does not cover rent when the landlord has entered into a guaranteed rent or rent to rent type arrangement. This is a commercial arrangement between the parties and the rent which should be paid to the landlord is not client money.