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The Conveyancing Committee recommends that undertakings in any one of the four forms of undertaking previously agreed between the Law Society and the IBF in the late 1970s or early 1980s should no longer be given by solicitors to lending institutions.

This recommendation is made on the basis that these forms of undertaking no longer reflect the current practices of banks making deeds available on ATR for inspection or other reason, or for bridging facilities, and so on.

The four forms of undertaking in question are:

• Form 1 – Inspection and Return of Documents (previously on white paper),
• Form 2 – Sale or Mortgage and Account for Net Proceeds (previously on pink paper),
• Form 3 – Deliver Deeds to Bank Following Purchase or Refinancing (previously on blue paper),
• Form 4 – Bridging Finance (previously on yellow paper).

These were published in appendix 6 of the Law Society’s Conveyancing Handbook, which is available to practitioners:

• In the members’ area of the Society’s website,
• On the CD-ROM of the handbook issued by the Society to practising solicitors in 2006 and which may still be in solicitors’ offices.

The Society has requested the IBF to notify its members that these forms of undertaking should no longer be used or requested by its members from solicitors.