TERMS & CONDITIONS

You are requesting that we prepare a Restricted Appraisal Report as defined by the Uniform Standards of Professional Appraisal practice or an Inspection. Upon submitting your request for an appraisal, we will email you a personalized quote and engagement letter to review and sign. Once you sign the engagement letter and return it, we will begin working on the appraisal. The Inspection fee is generally $140 but may vary according to accessibility and how rural the inspection site is.

All payments for appraisal reports and inspections shall be due within 30 days of the completion and delivery. All questions and revisions must be submitted prior to the 30 days.

All Appraisal Assignments and Inspections will be governed by the following terms:

Appraisal Terms and Condition

  1. The Appraisal Report or Inspection will not be given to any other party without the Appraiser and Client Approval.
  2. The appraiser will report the type of value requested by the client by researching the market and industry, apply the appropriate approaches to value, and provide a written report of the findings.
  3. Independent Appraisal Experts L.L.C. is indemnified against any and all problems that may arise from the use of this report. You agree to indemnify and hold us harmless against and from any and all losses, claims, actions, damages, expenses or liabilities, including reasonable attorney’s fees, to which we may become subject in connection with this engagement. You will not be liable for our negligence.
  4. You agree that in the event we are judicially determined to have acted negligently in the execution of this agreement, damages shall be limited to an amount not exceed the fee received by us for this agreement.
  5. Any claim of damages brought against Independent Appraisal Experts L.L.C. shall be limited to fees actually paid for Appraisal Services.
  6. Our liability for injury or loss, if any, arising from the services we provide to you shall not exceed the fees actually received by Independent Appraisal Experts L.L.C. from this agreement and specific assignment. There shall be no punitive damages. Increased liability limits may be negotiated upon your written request, prior to commencement of our services, and your agreement to pay additional fee.
  7. Your obligation for indemnification and reimbursement shall extend to any controlling person of Independent Appraisal Experts, LLC, including any director, officer, employee, subcontractor, affiliate or agent.
  8. If, in the future, the appraiser is called on to testify in court or at deposition regarding the written report, the appraiser will be paid the going hourly rate charged by the appraiser to cover professional time, the gathering of materials, reviewing the case and preparing for testimony along with other expenses incurred.
  9. If called on to defend this report to any other party, the appraiser’s expenses and hourly rate will be billed on a monthly basis or as incurred.
  10. The client will shoulder the responsibility of legal costs incurred by the appraiser when defending this appraisal.
  11. Client agrees that the Limiting Conditions, as stated in the report, will be acceptable with the level of work and detail of work to be performed as outlined in the “Scope” section of the report. A sample of the Scope Section has been provided and received by the client.
  12. Generally only the larger items of machinery/equipment will be appraised using the whole range of appraisal methodology. The balance of smaller support items may be valued by way of industry depreciation standards and historical metrics. These smaller items may be valued and reported in bulk.
  13. Governing Law and Jurisdiction. In the unlikely event of a dispute, the parties under the terms of this agreement shall be subject to arbitration. Arbitration shall be conducted in the state of residence of the appraiser. This transaction shall be construed, interpreted, and the rights of the parties determined in accordance with the laws of the state of residence of the appraiser. The parties hereby consent to the exclusive jurisdiction and venue of the courts of Salt Lake County, Utah, for all purposes hereunder. By ordering services through Independent Appraisal Experts L.L.C, you are waiving any right to bring suit in any jurisdiction other than Salt Lake County, Utah.
  14. Turnaround Time Independent Appraisal Experts L.L.C. does not guarantee any specific time frame in which the requested services will be completed. Independent Appraisal Experts L.L.C may refer to specific turn-around times, however, these times are mere estimates based on average time frames in the past. In no way is Independent Appraisal Experts L.L.C guaranteeing or warranting that services will be completed by a specific time. From time to time, services may take longer that originally estimated, and Independent Appraisal Experts L.L.C. shall not be liable for any claim that may arise based on turn-around time taking longer than originally estimated.
  15. Scope of Work Any Appraisal Services requested is considered to be only an ordering of the opinion of the value of equipment, inventory, machinery, etc. Independent Appraisal Experts L.L.C does not warranty or guarantee any opinions.
  16. Force Majerue Appraiser Vendor and Client shall both be excused for failure to perform any part of this Agreement due to events beyond either party’s control, including but not limited to Acts of God, fire, storm, flood, earthquake, explosion, accident, riots, acts of terrorism or other civil disturbances. In the instance of any of these occurrences, Appraiser Vendor and Client shall make their best efforts to perform their respective obligations at the first available opportunity.
  17. In the instance of any action being brought in regards to collection of payment for services rendered, customer agrees to payment of attorney fees and costs incurred.
  18. Independent Appraisal Experts L.L.C puts an emphasis on maintaining the most comprehensive and qualified appraiser panel. We attempt to compile our panel with only Certified Appraisers.