Consumer Protection
Scottish solicitors, with the support and guidance of the The Law Society of Scotland, strive to ensure that their clients receive a quality service. The training requirements and standards to be met by all Scottish solicitors makes sure that the profession provides clients with a service which is second to none.
Scottish Solicitors Guarantee Fund
The Society administers the Scottish Solicitors Guarantee Fund which is a unique consumer protection. The fund, to which Scottish solicitors contribute every year, can be used to reimburse any clients who have suffered monetary loss as a result of the dishonesty of a solicitor or their staff.
The Society's Guarantee Fund monitoring team inspect solicitors' records every two to three years principally for compliance with the exacting standards set by the Accounts Rules which govern the handling and management of clients' funds. The department is also responsible for managing the six monthly declarations required from solicitors in relation to the handling of client funds. For more information relating to Guarantee Fund claims click here.
Master Policy
All solicitors in private practice must have professional indemnity insurance. The Master Policy provides all Scottish solicitors in private practice with insurance against losses arising out of their negligence and operates as a protection for members of the public. It guarantees that any claim established against a solicitor arising from that solicitor's negligence will be paid even if the solicitor's practice has ceased to exist and the solicitor is unable to pay.
Claims are handled by the Master Policy Insurers. The insurance provides cover for all Scottish solicitors' firms for up to £2,000,000 for any one claim. Solicitors dealing with work involving larger sums can arrange top-up cover to increase the level of their insurance. More Information.
Judicial Factor
Most firms of solicitors in Scotland hold money for clients and the Society has rules which firms must follow for dealing with this money.
The Society's Compliance Team carry out regular inspections of all solicitor firms in Scotland to ensure that they comply with these rules. On very rare occasions the Compliance Team may suspect that client money is missing or the accounting records are in such a mess they cannot tell if client money is missing. In that event, to protect the public and other solicitors, the Society asks the Court of Session to appoint a Judicial Factor to that firm. For more information, click here.
