Renewal Notification 2017 / 2018

Please take note of the important notification that will assist you in obtaining your 2018 fidelity fund without any delays.

Every estate agent to whom a fidelity fund certificate or a registration certificate, as the case may be, has already been issued in respect of a specific calendar year, shall unless he/she ceased or will cease before the end of that year to operate as an estate agent and has advised the Board of such fact in the prescribed manner pay to the Board a levy of:

  1. R1200.00 Principal estate agent;
  2. 510.00 Non-principal estate agent; and attorney employee
  3. R364.80 Intern estate agent
  4. R1200.00 Firm renewal (if revenue is above R2 500 000)

By no later than 31 OCTOBER of that year (2017) for the issue to him/her of a fidelity fund certificate, as the case may be in respect of the immediately succeeding calendar year.

Fidelity fund certificates cannot be issued if the principal estate agent has not renewed, it is therefore important that the principal estate agent renews before estate agents, interns and full status estate agents renew in the company or firm. This will allow all fidelity fund certificate to be issued without cancellation and further avoid queries and delays in the issuing of certificates.

It is important that all estate agents use the correct seven (7) digit reference number when making payment to ensure that the payment is correctly allocated and a fidelity fund certificate is issued without delay. If you are not sure of your seven digit reference number, please contact our call centre on 087 285 3222 or send your email request to eab@eaab.org.za

It is further important that the correct amount is paid for the renewal; as our system does not recognize short payments for example R365.00 instead of R364.80. Note that short payments create unnecessary queries and delays in the issuing of fidelity fund certificate. 

If you have not received your renewal statement, kindly email your request to eab@eaab.org.za and the statement will be emailed back to you.

Payment received after the 31 OCTOBER 2017 will attract a monthly penalty of R450 for principal estate agents and Firms. R240 for non-principal/candidate estate agents. Fidelity fund certificates may not be issued until such time as the levy, plus the penalty if any, has been fully paid. (Section 16 (5) of Act No.112 of 1976, as read with the regulation 4(1) of Government Notice R1798 of 29 August 1986 as amended.) The Board has no discretion to waive any penalties if payment is received after the 31 October.

If the Board is satisfied that the applicant concerned is not disqualified in terms of section 27 of the Act and that the requirements regulation 4 and 5 have been complied with, the Board shall issue to the applicant a fidelity fund certificate or a registration certificate which shall be expressed to be valid until 31 December of the year to which the application relates. If the applicant (principal estate agent or estate agent) is disqualified in terms of section 27, the applicant must lodge a query through the online query management system by clicking https://www.eaab.org.za/myffc/login. Our Section 27 department will consider the application and advise accordingly.

NO FIDELITY FUND CERTIFICATE SHALL BE ISSUED TO:

Any estate agent, or if such estate agent is a company, any company of which any director or if such estate agent is a close corporation, any corporation if:

1. the applicant by any reason has been dismissed from a position of trust;

2. the applicant has been convicted of an offence involving an element of dishonesty;

3. the applicant estate has not been provisionally or finally sequestrated;

4. the applicant has not had a fidelity fund certificate withdrawn by the Board at any time.

If any of the above disqualifications apply to you, please contact EAAB for guidance on 087 285 3222 or send an email to eab@eaab.org.za for assistance.

Should you submit a payment and it is found that any of the above disqualifications apply to you, any fidelity fund certificate issued to you will immediately be rendered invalid and subject to immediate recall by the EAAB.

Please note that renewal processing of FFC’s is available online via MyEAAB portal, please click on the below hyperlink and renew for your 2018 FFC https://www.eaab.org.za/myffc/ffc/renewal

ESTATE AGENCY AFFAIRS BOARD
Date of issue: 01 June 2017

 

 



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