This pages details the obligations of the approved bodies who are partaking in the Tenancy Deposit Scheme for Regulated Agents (TDSRA).

1. Eligibility

   To be approved by The Dispute Service Limited the body must agree to abide by the rules of TDSRA as they apply to it agree to contribute to an assurance fund managed by The Dispute Service Limited to cover the repayment of deposits where the member fails to transfer the deposit to the Company on time.

2. Obligations to The Dispute Service Limited

   The Approved Body Must

   1. have a code of practice with which its members are expected to comply in their dealings with their clients, tenants and members of the public
   2. contribute to the assurance fund managed by The Dispute Service Limited to cover late or non-transfer of disputed deposits
   3. reimburse The Dispute Service Limited or its nominated agents for any sums that its member has not paid within the period specified
   4. agree to implement the ICE's determinations as necessary
   5. take appropriate action where the ICE has found that one of their members has failed to comply with the rules of TDSRA. The Approved Body will agree with The Dispute Service Limited what range of sanctions it may impose on members who fail to comply with the rules of TDSRA.
   6. maintain approved client money bonding arrangements on behalf of all its members who join TDSRA
   7. inform The Dispute Service Limited within 10 working days if it has expelled any of its TDSRA members, or if they withdraw from it, or cease to be covered by the approved bonding arrangements.
   8. inform The Dispute Service Limited if any of its members have given it notice that it intends to withdraw from TDSRA.
   9. provide The Dispute Service Limited with such information as it reasonably requires, both regularly or on a one-off basis, on the appropriate form, or by computer disc or e-mail.
   10. if the ICE asks Approved Bodies to do so, they must without charge provide copies of or allow him to examine any records and documents which the ICE considers may be relevant to disputes under consideration. #
   11. provide such other reasonable help as the ICE may request from time to time.

3. Calculation and payment of contributions to the assurance fund

   1. In the first year of their participation each Approved Body will contribute a sum to be fixed by the Board, but which will not be less than £5,000
   2. Thereafter each Approved Body must pay an amount decided by reference to the number of offices brought into the Scheme by its Member Firms in the UK
   1. The unit charge will be calculated by dividing the requirements of the fund by the total number of offices covered by the Scheme.
   2. The contribution to be paid by each Approved Body will be calculated by multiplying the unit charge by the total number its offices within the Scheme.
   3. The Company reserves the right to appoint auditors to carry out checks on the information provided by Approved Bodies under this section of TDSRA. If the Company asks Approved Bodies to do so, they must without charge provide copies of or allow its representatives to examine any records and documents which the Company considers may be relevant to the calculation of its subscriptions. Approved Bodies agree to provide such other reasonable help as the Company may request from time to time.
   4. The contribution will be due and payable on the date specified in the relevant demand. The Company may require payment of interest calculated at the rate of 2% above the base rate (or its replacement) of a clearing bank nominated by the Company from the date that such sums become due until payment.

4. Membership of The Dispute Service Limited
1. An Approved Body is entitled to membership of the company and a seat on its Board. In order to exercise this right it must give the company an indefinite interest-free loan to underpin its running costs. The amount will be fixed from time to time by the Board but will not be less than £20,000
2. The loan will be repayable if:
1. the company should cease to trade
2. the company's unencumbered reserves equal or exceed the total of the loans made to it by the Approved Bodies.

5. Amendments
1. These rules may be amended from time to time by resolution of the Board and all such amendments shall be deemed incorporated into these rules with effect from the date on which such changes are notified to Approved Bodiess
2. If in the reasonable opinion of the Board, any proposed changes to these rules are significant, it shall consult with Approved Bodies to the extent and in the manner it deems appropriate. If any changes incorporated into these rules are in the reasonable opinion of any Approved Body material and unreasonable, it may notify The Dispute Service Limited of its intention to withdraw from TDSRA in accordance with the provisions of paragraph 6. In that event, the rules in force immediately prior to such amendment shall continue to apply to the relevant tenancies of such members

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