Using an AMEA Appraiser on your machinery and equipment appraisal project gives you access to an accurate report because of the responsibilities of the appraiser. Following are those responsibilities:
• Perform with objectivity and independence. • Must not disclose confidential data from a report unless; required by law, to a duly authorized professional peer committee, or authorized by the client. • Identify the type and extent of Scope of Work. • Provide the name of any individual who provided significant professional assistance. • Identify the property interest. • Identify the effective date of the appraisal. • Consider the extent of the data collection process. • Communicate each analysis, opinion and conclusion in a manner that is not misleading. • Should be systematic, honest, disinterested, thorough, precise, and professional. • Strive to maintain credibility. • Only appraise a specialized asset outside their field of competence if: 1. the appraiser writes a proper report 2. they have disclosed to the client their lack of experience 3. the appraiser engages the assistance of someone who is competent • All reports are to be individually signed and sealed. • May develop an appraisal report based upon hypothetical condition if: 1. the hypothesis is clearly disclosed 2. the report describes the effect of the hypothesis upon the result of the appraisal 3. the hypothesis is required for legal purposes. • Know the difference between limiting conditions and the standards and procedures of professional appraisal practice.