Client Monies Toolkit
Your guide to best practice for handling your clients’ monies
This toolkit has been developed to provide migration agents with a source of information about the practical and regulatory aspects of handling client monies.
The fundamental principle of client money is that any money paid by a client to a registered migration agent remains the property of the client until the agreed work is completed. In any dealings with client money by a registered migration agent, the OMARA will be focusing on whether there is integrity, clarity and transparency.
Integrity is important because you are effectively holding the client’s money in trust for them to be used for a specific purpose. If the agreed services are not performed, then the registered migration agent is not entitled to the client’s money. If the services are not performed to the standard agreed, then the registered migration agent must consider an appropriate refund of the client’s money.
Clarity is essential. Communicating what you will do, what this will cost and how long it will take gives the client a very clear understanding and expectation of the value of the service you intend to provide.
Transparency is your protection. Good records make it very easy for you to resolve any disputes quickly and efficiently.
This toolkit is a guide based primarily on Parts 5 and 7 of the Code of Conduct. It is aimed at newly registered migration agents in particular.
A printable, navigable version of the toolkit is available in PDF format:
Client Monies Toolkit (1.14Mb PDF)