Regulated firm sponsorship is the arrangement that allows registered firms to pay regulatory fees and provide firm related regulatory information on behalf of nominated Registered Valuers.
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Any RICS Regulated Firm that is regulated for valuation activities can apply to sponsor Registered Valuers.
Sponsoring Regulated Firms are required to pay any sponsored valuer application and subscription fees as and when they fall due.
Sponsoring Regulated Firms are required to provide any information which is reasonably requested by RICS to support registration applications and ongoing regulatory compliance monitoring on behalf of sponsored valuers. This may include but is not limited to confirmation that all valuation work carried out by sponsored valuers is covered by suitable professional indemnity, records of complaints, company procedures and valuation files.
Status as a Sponsoring Regulated Firm will be removed if the firm fails to comply with these obligations, or at the point that the firm ceases to be an RICS Regulated Firm. If sponsorship is ended all payment and regulatory information requests will revert to the individual registered valuer(s).
Compliance with the rules and requirements of the Valuer Registration scheme remains the responsibility of the individual registered valuer.
Information provided by sponsoring firms and sponsored individuals will be used to assess the individual's eligibility for valuer registration, to risk assess applications and to monitor compliance with the scheme rules.
Details of outstanding sponsoring firm actions will be provided to the sponsored individual(s) where it may affect their registration and/or ability to comply with the scheme rules.
New and existing* regulated & sponsoring non-regulated firms who wish to sponsor members for valuation will be able to do so via the Professional Portal.
Upon completion of the application or renewal, those firms who have opted in for valuation sponsorship will be asked what allocation of sponsorships they would like to purchase. The fee will be based on a scale which is determined by the number purchased. An approximate cost can be identified using the calculator below:
*Please note currently only firms who have registered via the Professional Portal will be able to purchase sponsorship in this way. If your firm became regulated before DD Month YYYY, please contact your local regulation office to discuss further.