FOPDAC / NAEA (overseas)
FOPDAC Logo (old)
NAEA Int Logo (New)
Vine Leaf Properties is a member of the Federation of Overseas Property Developers, Agents and Consultants (FOPDAC). In August 2007, the membership of FOPDAC agreed to merge with the National Association of Estate Agents (NAEA), to create the "NAEA International Division Incorporating FOPDAC". Details of the announcement are shown in a pdf at the foot of this page.
On 26th October 2007, Vine Leaf Properties was accepted as a member of the NAEA (International). Shown below is a summary of what FOPDAC stands for and how those standards have since been embraced by the NAEA.
Background to FOPDAC
FOPDAC was established in 1973 to unite those agents, developers and specialist consultants active in the international property markets whose common aim is to conduct their activities in a manner which seeks to protect the interests of those who have decided to purchase, or sell, a property overseas.
Membership of the Federation is restricted to companies or individuals whose probity is beyond reasonable question. The individual principals must have the experience and professional expertise to meet the strict criteria set in the Federation's Code of Ethics. The Committee of the Federation and its members provide a valuable reservoir of many cumulative years of experience in international property.
The Standards Demanded
A summary of FOPDAC's Code of Ethics is given below to indicate why we are a member:
- Members shall comply with all financial and legal obligations relating to their transactions, their clients or customers.
- Members shall use their best endeavours to encourage developments with due consideration for open space and proper environmental controls.
- Where Federation members accept clients' monies for payment for land or property, they must maintain a legally separate Clients Account which must be properly conducted.
- Members shall report in writing any violation of these bylaws, whether their own or of others, whether members or not, to the Committee.
Should the Federation receive a complaint that a member has not acted in accordance with the Code of Ethics then the Committee should decide that a member is in default and he subsequently fails to rectify the matter as directed, then the member would be liable to immediate expulsion.
All agents must recommend to a prospective purchaser that they seek independent legal advice in order to effect their purchase. Such recommendation will be given before any legally binding contract is entered into. If the prospective purchaser asks the agent for the name of a person to provide independent legal advice the agent should provide a choice of names.
Why Leave it to Chance?
You have a wide and free choice, your decisions are important because they concern your own and your family's pleasure and the investment of a significant sum of money.
FOPDAC members can be recognised by the FOPDAC logo which they may display on literature, stationery and advertisements.
For further information about FOPDAC and NAEA please view:
