Fidelity Fund Claims

Fidelity Fund Claims

The PPRA’s Fidelity Fund was established to, among other things, reimburse persons who suffer financial loss by reason of theft of trust money committed by a property practitioner who was in possession of a Fidelity Fund Certificate at the time of the theft or who failed to deposit and retain trust money in a trust account.

Claims Process

  1. The claimant must first lodge a complaint against the property practitioner concerned and must open a criminal case against the property practitioner before a claim will be considered
  2. The PPRA’s claims department will liaise directly with the complainant and advise him or her of the process to be followed as well as the supporting documents that will be required to substantiate the claim
  3. After receiving the claim and supporting documents, the PPRA will conduct an inquiry into the merits and validity of the claim and decide whether the claim should be approved
  4. Claims which do not meet the prescribed requirements will be rejected
  5. It should be noted that the PPRA has a responsibility to protect the Fidelity Fund against fraudulent claims and claims that do not meet the prescribed requirements

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