Roomtech – 16

Linette Teepe Property Consultants, as an Accountable Institution, is by law required to comply with legislative requirements such as outlined in the FIC Act 38 of 2001 and the Financial Intelligence Centre Amendment Act of 2017. This includes the mandatory process of identifying and verifying all parties to a real estate transaction and implementing the risk-based approach and client due diligence process at the commencement of the relationship.

For our business purposes, a business relationship commences:

• With a Seller on mandate
• With a Buyer on signing of the offer to purchase
• With a Lessor on mandate
• With a Lessee on application for a property

Pursuant to the provisions of FICA, Linette Teepe Properties is prohibited from servicing the mandate (including but not limited to listing the property on the internet portals or arrange viewings with potential clients) or process the application or submit the Offer to Purchase until all the required verification documents have been obtained.

WHO IS FIC:

FIC is an acronym for Financial Intelligence Centre established in terms of Section 2 of the Financial Intelligence Centre Act 38 No.38 of 2001 (the FIC Act).

WHY IS THIS IMPORTANT:

The main purpose of FIC is to analyse and gather financial data in order to combat Money Laundering, to Identify proceeds of unlawful Activities and to Combat Terrorist Financing. Estate Agents , as accountable institution can be especially vulnerable to this and therefor they need to be able to report to FIC.

For more information on FIC : https://www.fic.gov.za/aboutus/Pages/WhoWeAre.aspx

DOCUMENTS:

Individual or Natural Person

• Copy of ID document (SA Citizens) – green barcode ID book or ID card
• Valid Passport (Foreign Nationals)
• Proof of address less than three months old
• Marriage Certificate and contract (if applicable)
• Copy of SARS document confirming income tax number
• Copy of Bank Stamped bank statement confirming individual banking details (less than three months old)

Please note: We cannot accept documentation for identification & verification via any apps (i.e. Messenger, Instagram, WhatsApp or SMS)

Trust

• Trust deed & any deeds of amendment of Trust Deed, should it be applicable
• Letter/s of Authority issued by the Master of the High Court to each trustee
• Resolution signed by all the trustees nominating the representative and assigning authority to such a person in order to act on behalf of the trust. Thus, documentary evidence authorising the person to act on behalf of the trust. This person must also provide an identification document as required for South African Citizens or valid passport in the case of a foreign national. The same client due diligence applies to this person as it would in the case of an individual.
• Copy of SARS document confirming Income tax and VAT registration number for trust
• Copy of bank statement confirming trust account banking details (less than three months old)
• For the authorised signatory or representative, each trustee, beneficiary and founder of the trust we require the following:
  • Copy of ID
  • Proof of address (less than three months old)

Please note: We cannot accept documentation for identification & verification via any apps (i.e. Messenger, Instagram, WhatsApp or SMS)

Estate Late Seller

• If accepting a mandate to sell this must be procured from the Executor(s)
• For the deceased the following are required:
  • Copy of death certificate
  • Copy of ID
• Bank details of estate late account
• Resolution (in the case of more than one executor)
• For the executor(s) we require the following:
  • Copy of ID
  • Copy of Letter of Executorship
  • Proof of physical address

Please note: We cannot accept documentation for identification & verification via any apps (i.e. Messenger, Instagram, WhatsApp or SMS)

Company registration documents

• • CM1– Certificate of Incorporation
  • CM2– Memorandum of Association
  • CM22- Notice of Registered Office
  • If applicable, CM9 or Certificate of Recognition
  • Latest CM29 – Contents of Registrar of Directors, Auditors and Officers Business name if different from registered name
• Proof of address (less than three months old)
• Copy of SARS document confirming Income tax and VAT registration number for company
• Resolution on company letterhead signed by all directors nominating authorised signatory / representative
• Copy of bank statement confirming company banking details (less than three months old)
• For the authorised signatory or representative and or CEO, each director and each person or corporation with shareholding of 25% and upwards or have voting rights at an AGM, we require the following:
  • Copy of ID
  • Proof of address (less than three months old)
• Letter of authority or documentary evidence (mandate, minutes or resolution) is to be provided in the case of each person authorised to establish a relationship or transact on behalf of the company:
• Please note that documents lodged with or issued by CIPRO or CIPC must contain the stamp of the Registrar of Companies

Please note: We cannot accept documentation for identification & verification via any apps (i.e. Messenger, Instagram, WhatsApp or SMS)

The information provided by Linette Teepe Properties (“Company”, “we”, “our”, “us”) on www.linetteteepe.co.za (the “Site”) is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the Site.

UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE SITE OR RELIANCE ON ANY INFORMATION PROVIDED ON THE SITE. YOUR USE OF THE SITE AND YOUR RELIANCE ON ANY INFORMATION ON THE SITE IS SOLELY AT YOUR OWN RISK.

EMAIL DISCLAIMERS :

We encourage you to not print this email unnecessarily. Every email not printed helps the environment.
The contents of these emails are only intended for the recipient specified. We do not distribute emails to third parties without consent or contractual knowing of all parties involved.
Should you receive an email by mistake we firstly would like to apologize, and we will be grateful if you could immediately inform us in order to rectify the situation. Furthermore, we would kindly like to request that you delete this message form your mailbox and not to forward to third parties.

PHOTO DISCLAIMERS AND COPYRIGHT:

The product and property images shown may represent the range of products/ Retirement Villages, and may be for illustration purposes only. This could be that it is not an exact representation of the product and might be generic.
Linette Teepe Properties reserves the right to change product images at any time without notice.

EXTERNAL LINKS DISCLAIMER

The Site may contain (or you may be sent through the Site) links to other websites or content belonging to or originating from third parties or links to websites and features. Such external links are not investigated, monitored, or checked for accuracy, adequacy, validity, reliability, availability or completeness by us.

For example, the outlined Disclaimer has been created using PolicyMaker.io, a free web application for generating high-quality legal documents. PolicyMaker’s disclaimer generator is an easy-to-use tool for creating an excellent sample Disclaimer template for a website, blog, eCommerce store or app.

WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY INFORMATION OFFERED BY THIRD-PARTY WEBSITES LINKED THROUGH THE SITE OR ANY WEBSITE OR FEATURE LINKED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES

LOGOS AND TRADEMARKS DISCLAIMER

All logos and trademarks of third parties referenced on www.linetteteepe.co.za are the trademarks and logos of their respective owners. Any inclusion of such trademarks or logos does not imply or constitute any approval, endorsement or sponsorship of Linette Teepe Properties by such owners.