A.) Conduct his or
her appraisal activities in a professional manner, demonstrating the
highest level of integrity, which will reflect credit upon
himself/herself, and the accrediting organization, AMEA.
B.) Accept only those
assignments that he or she is competent to perform and has the knowledge
and ability to perform in a professional manner.
C.) Make his or her client
fully aware of any interest he or she has in the machinery or equipment
to be appraised. The appraiser must state clearly that his or her
opinion of values is unbiased and objective. These opinions must not be
prejudiced by past, present, or any future interests in the machinery
and equipment appraised. It is a violation of this Code of Ethics to
formulate opinions of value that may be subjective or self-serving or
that are based on any interests that may affect the validity of the
D.) Base compensation paid
for an appraisal on the nature and scope of the appraisal. The appraiser
shall not derive compensation for an appraisal contingent on values
pre-determined by the client. The payment of undisclosed fees,
commissions or things of value in connection with the procurement of
Appraisal, Review or Consulting assignments is unethical.
E.) Prepare the appraisal
report personally and express opinions in it that are his or hers and
not that of another party, unless specifically stated in the report that
another Appraiser or Advisor has been consulted and whether or not that
person has been compensated for those opinions. The amount of
compensation need not be stated, only that compensation or none has been
F.) Hold all appraisals in
strict confidence with his or her client, and shall not furnish it to
another party unless specifically authorized to do so by the client or a
court of law.
G.) Adhere to these
standards, even when signing an appraisal report on the line over the
words "Review Appraiser". If more than one person signs the report, this
certification must clearly specify which individuals did and which
individuals did not make a personal inspection of the
H.) Advertising for or
soliciting appraisal assignments in a manner which is false, misleading
or exaggerated is unethical.