South Africa Estate Agency Affairs Board EAAB : Fidelity Fund Certificate Renewals

Name of the Organization : Estate Agency Affairs Board
Type of Facility : Fidelity Fund Certificate Renewals
Location : Johannesburg
Country : South Africa

Official Website : http://www.eaab.org.za/home

Fidelity Fund Certificate Renewals :

As part of the Estate Agency Affairs Board statutory mandate and legislation, it is the requirement of all estate agents wishing to operate within the real estate property industry to be in possession of a valid Fidelity Fund Certificate (FFC).

Related : EAAB South Africa Fidelity Fund Certificate Application : www.statusin.org/4861.html

The validity of a FFC is 01 January of a year to 31 December of the same year and estate agents are therefore required to renew by no later than 31 October of each year to obtain a FFC for the following year.

The following must be taken into account when preparing for the renewal :
When making a payment, please ensure that your Unique Seven Digit Reference Number is correct. This Unique Seven Digit Reference Number remains the same every year. As each estate agent is allocated a Unique Seven Digit Reference Number, separate payments must be made for each estate agent.

Renewal Process :
Irrespective of whether a Notice of Renewal of the Fidelity Fund Certificate is received or not, it is still the responsibility of each registered Estate Agent to renew their Fidelity Fund Certificate before the due date of 31 October of each year.

It is also imperative that should the employment of an estate agent be terminated with a firm, that the Principal gives due notice to the EAAB to update the records of the firm. Should that same estate agent, join another firm that the EAAB is given due notice of their change of employment. The importance of this being advised timeously is so that if the same estate agent pays for their renewal without advising the EAAB of his change in firm details, the FFC will be printed with the incorrect firm name.

It is also the responsibility of the Principal of the firm to advise the EAAB of any change in physical or postal address, contact no’s etc in order for our records being kept up to date.

It is important for all estate agents to be aware of the late renewal penalty which is applicable if renewals are made after the due date of 31 October each year.

Fidelity Fund Certificate Renewal Fees :
Principal Fee R855.00
Non-principal Fee R364.80

Penalty Fees :
Principal R250.00
Employee R150.00

Banking Details for Fidelity Fund Certificate Renewal Payments:
(including the penalty fee for late renewals) :
Bank : ABSA
Account Numbers : 405 203 3310
Branch Code : 535105
Branch : Protea Park A/C
Name : Estate Agency Affairs Board

Document Downloads : https://www.eaab.org.za/

About Us :
The Estate Agency Affairs Board (“EAAB”) was established in 1976 in terms of the Estate Agency Affairs Act, 112 of 1976 (“the Act”), with the mandate to regulate and control certain activities of estate agents in the public interest.

The EAAB regulates the estate agency profession by ensuring that all persons carrying out the activities of an estate agent as a service to the public are registered with the EAAB