Disclosing your limited liability
Under professional standards legislation, your association and any members that participate in your Professional Standards Scheme are required to disclose limited liability on stationery and business documentation.
The wording you must use is as follows:
Liability limited by a scheme approved under Professional Standards Legislation.
This statement is designed to give consumers clear notice that you operate under an approved Professional Standards Scheme. It must be printed in a size not less than Times New Roman 8-point font.
The statement must appear on all materials that are or could be given to current or prospective clients by your participating members to promote themselves or their occupation. Examples include, but are not limited to:
- Letterhead and letters signed by the company or on its behalf
- Fax cover sheets
- Newsletters and other publications
- Your website(s)
- Written advice, plans, drawings, specifications and any other client documents not accompanied by a separate document with the disclosure statement
- Memorandum of fees and invoices unaccompanied by a separate document with the disclosure statement.
The statement does not need to appear on:
- Advertisements in print media, directory listings and similar forms of promotion
- Business cards
- Social media networks, blogs, etc. that are accessed voluntarily by consumers, rather than being given, or caused to be given, by professionals to their clients or prospective clients.