Top firms move to cut paperwork

Leading commercial practices have produced standard documents for the profession

News, 27 October 2004

The Property Standardisation Group (PSG), comprising members of four leading Scottish law firms, has just launched a set of documents for lease management on its website.

The PSG hopes that the documents, available free of charge, will speed up many of the more straightforward lease transactions.

The PSG was created in 2001 by Dundas & Wilson, Maclay Murray & Spens, McGrigors and Shepherd+ Wedderburn to cut down on time wasted on paperwork in property transactions between the four firms. Its objective was to create a system of standardised documentation and procedures to speed up transactions. It now includes other firms who act as consultees approving new documents created by the group.

Rachel Oliphant, McGrigors' representative on the PSG, said: "Since we created the PSG we've felt tremendous benefits in terms of time-saving & efficiency, a benefit which is passed directly on to our clients. The benefits have spread beyond the original group of four firms and we are pleased to see the documents being used by other practices."

Earlier this year the PSG provided clear guidance on dealing with the new stamp duty land tax in property transactions. The PSG wording was quickly adopted across the profession.

All PSG documents are available free of charge together on the website www.psglegal.co.uk.