risk-management.php

This file note is designed to be used by practitioners when they are advising third party guarantors and providing a solicitor’s certificate of their advice.

Practitioners should review the file note template with the guarantee and/or mortgage documents before meeting with the client and make any necessary additions or changes to the typed file note section.

The file note should be printed, taken to the meeting with the client and used to ensure all issues are discussed with the client. It also provides a reminder to ensure that appropriate notes are made of the client’s comments and questions. A copy of the file note can be given or sent to the client after the meeting.

The file note is available in a Microsoft Word version so firms can tailor the wording to suit their needs and insert their own branding. Firms are also welcome to use the sample pdf version if they so wish.

We welcome your feedback on the file note.


File note – meeting to advise about a guarantee  (PDF Version) | File note – meeting to advise about a guarantee (Word Version)


 

1 October 2018

What can go wrong?

Every firm needs to develop risk management strategies As part of managing a practice, you need to invest time in identifying what can go wrong in your matters and devise appropriate risk management strategies. You should not assume knowing the law in your areas of practice and being diligent in your work is enough to […]

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1 October 2018

In Check Issue 80 | September 2018

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3 September 2018

Expect the unexpected

Conveyancing practitioners need to look for non-standard transactions. Victorian law practices act in hundreds of conveyancing transactions every week worth millions of dollars. Conveyancing transactions invariably comprise many moving parts with the potential for things to go wrong, but usually they do not. The challenge is how to maintain your curiosity and vigilance to ensure […]

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1 August 2018

When to say goodbye

Practitioners should act decisively on non-performing clients. Practitioners need to proactively manage clients who do not appreciate the value of their services. This includes knowing when to act decisively by not accepting a retainer or terminating a retainer within r13.1 of the Legal Profession Uniform Law Australian Solicitors’ Conduct Rules 2015. Clients who do not value your services heighten your risks and […]

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1 July 2018

When parents lend to children

Be alert to the risks when advising on parent loans to home buyers. Last year, financial services comparison site Mozo reported that young home buyers in Australia have borrowed $65.3 billion from their families, making the bank of Mum and Dad the country’s fifth biggest lender. The June 2018 LPLC column “Take a step back” […]

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19 October 2016

Cyber security cautionary tale

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23 May 2007

E-mail guidelines

Removed due to content no longer being relevant.

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19 October 2018

Be sure before disbursing trust money

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17 August 2018

What did they expect?

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10 August 2018

New ipso facto regime has commenced

The amendments to the insolvency regime in the Corporations Act 2001 (Cwlth) to restrict the rights of parties to enforce ipso facto clauses in new contracts came into effect on 1 July 2018. These clauses typically allow a party to terminate or exercise other contractual rights if the counterparty enters into an insolvency. Under the […]

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15 June 2018

Attention to all the details

Attention to all the details in preparing a contract is crucial to ensure correct and intended execution of the contract as well as good risk management. Care must be taken when using standard form contracts and completing the variables. Near enough is not good enough! In one claim, the practitioner acted for the vendor of […]

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11 May 2018

Risks for the bank of mum and dad

Practitioners asked to act in transactions where parents lend money to their children to help them buy a house should stop and think about the transaction. Who are they acting for? Who else could think the practitioner is looking after their interests? If you are acting for the child in the purchase of the property […]

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27 January 2018

Risk management audit checklist

Don’t wait for the worst to happen – use this audit checklist to determine and monitor whether your practice is at risk of a negligence claim. Introduction This audit checklist is a risk management tool for legal practitioners to determine and monitor whether their practice is at risk of a negligence claim arising from poor […]

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18 December 2017

Key Risk Checklist: Electronic property transactions – office management

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20 November 2017

Key Risk Checklist: File transfer from another firm

  Client intake Comment or detail Complete the client intake checklist to establish if you should act for this client in this matter at this time (click here). Immediate file review  Comment or detail Conduct an immediate file review to determine: critical dates and relevant time limits outstanding issues next steps. Internal procedure  Comment or […]

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15 June 2017

Key Risk Checklist: File transfer to another practitioner within the firm

    File transferred to another practitioner within the firm Yes No Comment or detail Has the client requested the change of practitioner? □ □ Has the practitioner receiving the file confirmed they have the knowledge and capacity to do the work? □ □ Has the transferring practitioner completed a detailed memorandum that: details the […]

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15 June 2017

Key Risk Checklist: File closing

  Work completed Yes No Comment or detail Have we written to the client confirming: all required work has been completed? □ □ any outstanding issues that are the client’s responsibility? □ □ any critical dates and consequences? □ □ future actions (such as exercise of an option) that is the client’s responsibility? □ □ […]

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11 May 2017

Know your limits

Table of contentsIntroductionLessons from the claimsTime limits most commonly missedClaims examples Introduction With the proliferation of time limits in legislation today missing limitation dates is a mistake that occurs in many areas of the law. The reasons for missing time limits are varied as are the potential repercussions. Sometimes it is a lack of knowledge […]

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7 September 2018

Risk video bite – defective section 32 statements

Presenter: Phillip Nolan, LPLC Risk Manager

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6 July 2018

Risk video bite – Conflicts

Presenter: Matthew Rose, Risk Manager, LPLC

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1 June 2018

Risk video bite – Personal cost orders

Presenter: Matthew Rose, Risk Manager, LPLC

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4 May 2018

Risk video bite – Family law financial agreements

Presenter: Alex Macmillan, Claims Manager, LPLC

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6 April 2018

Risk video bite – Drafting

Presenter: Matthew Rose, Risk Manager, LPLC

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15 August 2018

Vendor/supplier GST withholding notice

There is no prescribed form for section 14-255 supplier GST withholding notice. Below is a suggested form of notice practitioners are welcome to use or adapt.Page two of the notice contains some notes for its use.   Vendor_supplier GST withholding notice(PDF Version) | Vendor_supplier GST withholding notice(Word Version)    

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21 December 2017

File note – meeting to advise about a guarantee

This file note is designed to be used by practitioners when they are advising third party guarantors and providing a solicitor’s certificate of their advice. Practitioners should review the file note template with the guarantee and/or mortgage documents before meeting with the client and make any necessary additions or changes to the typed file note […]

More
20 July 2017

Working together – roles and obligations

What we will do when we act for you Be courteous and polite at all times. Act in your best interests only. Keep your information confidential unless you give us permission to disclose it or we are required by law to disclose it. To enables us to handle your matter as quickly and economically as […]

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