PART 1Introduction
Meaning of business relationship4
1
For the purpose of these Regulations, “business relationship” means a business, professional or commercial relationship between a relevant person and a customer, which—
a
arises out of the business of the relevant person, and
b
is expected by the relevant person, at the time when contact is established, to have an element of duration.
F12
A relationship where the relevant person is asked to provide one or more of the services described in regulation 12(2)(a), (b) or (d) is to be treated as a business relationship for the purpose of these Regulations, whether or not the relationship is otherwise expected to have an element of duration.
3
For the purposes of these Regulations, an estate agent is to be treated as entering into a business relationship with a purchaser (as well as with a seller), at the point when the purchaser's offer is accepted by the seller.