Established by RICS and the Insolvency Practitioners Association this scheme accredits professionals who carry out fixed charge or Law of Property Act receivership work to protect the interests of lenders, creditors or other shareholders.
Fixed charge receivership provides a mechanism for realising secured debts on property in an insolvency situation. The Fixed Charge Receivership Scheme provides security against appointing non-regulated receivers, operating totally outside the scope of the Insolvency Act 1986.
Members of the Fixed Charge Receivership Scheme are listed in the Directory of Registered Property Receivers which has been widely circulated within the industry to ensure that lenders now have access to competent and experienced professionals.
The index lists those RICS members who have agreed to be regulated on their performance as Property Receivers by the FCRS Joint Registration Committee to ensure that lenders now have access to competent and experienced professionals.