The terms that apply to every valuation you order from us. Read them before placing an order.
1.1 Each report will state the market value of the property as at the valuation date stated in your order, prepared in accordance with the International Valuation Standards and the professional standards of the Australian Property Institute.
1.2 Each valuation will be carried out on the basis stated in your order, being either a full inspection or a desktop assessment. A desktop assessment is prepared without internal or external inspection and relies on information provided by you and on publicly available data. It differs in scope from a full inspection.
1.3 Each report is prepared for the purpose stated in your order, to the standard required for that purpose. It must not be used or relied upon for any other purpose.
1.4 Each report is prepared solely for the client named in the order, and for any party named in the order as the party the report is addressed to. No other party may rely on it without our prior written consent. We accept no liability to any third party.
1.5 Where a report is required as at a date in the past, the assessment will reflect the market conditions at that date, based on sales evidence available from that period.
1.6 Where an insurance replacement cost assessment is included, it estimates the cost to rebuild and is not a market value. The two are calculated differently and one does not substitute for the other.
1.7 Where properties in an order are held by different legal entities, a separate agreement, invoice and report applies to each entity.
2.1 The total fee shown in your order is payable in full on acceptance of this Agreement. The engagement is not confirmed and the fee is not fixed until payment is received.
2.2 Payment in full fixes the fee for each property listed. The fee will not increase, regardless of any change to our published rates before the valuation is carried out.
2.3 Our fee is set by the value band you select when placing the order. If the assessed value falls more than 10% outside that band, we may re-quote the engagement or cancel it and refund you in full. We will tell you before carrying out further work.
2.4 All fees are stated inclusive of GST unless otherwise indicated.
2.5 The fee covers preparation and delivery of the valuation report. It does not include attendance at conferences, provision of expert evidence, revisions requested after delivery, or additional work arising from information not disclosed to us at the time of this Agreement. Any such work will be quoted separately.
3.1 Standard reports are delivered within five business days of inspection. Where a desktop assessment has been ordered, reports are delivered within five business days of the order being confirmed.
3.2 Timeframes run from the date payment is received, or from the date of inspection where an inspection is required, whichever is later.
3.3 Where a full inspection has been ordered, you are responsible for arranging access to the property, including access to any tenanted or occupied property. Time spent waiting on access does not count towards the timeframes in clause 3.1.
3.4 If access cannot be arranged within a reasonable period, we may complete the valuation on a desktop basis and refund the difference in fee, or refund the fee for that property in full.
3.5 Where a report is required by a particular date, that date must be stated in your order. We will tell you before you pay if we cannot meet it.
4.1 Where the valuation has not commenced, you may cancel the order and we will refund the fee in full. A valuation commences when we begin research, arrange an inspection, or attend the property, whichever occurs first.
4.2 Once the valuation has commenced, fees paid under this Agreement are not refundable. A change of mind, a change in your circumstances, or a decision not to proceed does not entitle you to a refund.
4.3 If we are unable to complete a valuation for any reason, we will refund the fee for that property in full.
4.4 A valuation ordered under this Agreement may not be transferred to a different property or a different client without our written agreement.
4.5 We may decline to proceed with a valuation where the property or the interest to be valued falls outside the scope of the pricing quoted, or where circumstances arise that would compromise our independence. Where we decline, we will refund the fee for that property in full, including any GST paid.
You agree to provide, promptly and to the best of your knowledge, all information relevant to the valuation, including:
We rely on the information you provide. We are not liable for any consequence arising from information that is inaccurate, incomplete or not disclosed to us.
6.1 We are Certified Practising Valuers and members of the Australian Property Institute, and are required under its professional standards to maintain strict independence and impartiality in making a valuation and wherever the exercise of objective judgement is required.
6.2 We cannot alter an assessed value to suit you, your adviser, or any other party. Our fee is not contingent on the value assessed, on any outcome, or on any tax position taken by you or your adviser.
6.3 Where this engagement has been introduced to us by an accountant, adviser or other professional partner, that partner may receive partner pricing or a fee from us. This does not affect the independence of the valuation or the fee you pay. Details are available on request.
7.1 PPV Australia holds professional indemnity insurance. Details are available on request.
7.2 Our liability is limited by a scheme approved under Professional Standards Legislation, and is further limited as set out in each valuation report.
7.3 You agree to release us and hold us harmless from all liability to you for or in respect of any loss, damage, costs and expenses of whatsoever kind which we have or may have or, but for the operation of this clause, might have had arising from or in any way connected with the valuation, the valuation services, or the use of the valuation services or any part of them. This release is complete and unconditional except in the case of gross negligence or wilful misconduct by us in the provision of the services.
7.4 You agree that you will fully indemnify us for and in respect of all loss, liability, costs and expenses of whatsoever kind which we may suffer or incur arising from or in any way connected with any breach by you of this Agreement. This indemnity includes but is not limited to loss, liability, costs and expenses which we may suffer or incur in respect of any claims, actions, proceedings, disputes or allegations made against us or to which we are a party.
7.5 You agree to this limitation of liability whether such liability arises under contract, at common law or under statute.
7.6 Nothing in this Agreement excludes, restricts or modifies any guarantee, right or remedy conferred on you by the Australian Consumer Law, being Schedule 2 to the Competition and Consumer Act 2010 (Cth), which cannot lawfully be excluded, restricted or modified.
7.7 Where the services are not of a kind ordinarily acquired for personal, domestic or household use or consumption, and to the extent permitted by section 64A of the Australian Consumer Law, our liability for a failure to comply with a consumer guarantee is limited, at our option, to supplying the services again or paying the cost of having the services supplied again.
7.8 You agree that this limitation of liability extends to our principal, valuers, employees and contractors. Every right, immunity, exemption and limitation in this Agreement available or applicable to us shall also be available and shall extend to every employee, contractor, servant or agent of ours.
7.9 No employee, contractor, servant or agent of ours or any other person has any power to waive or vary any of these terms unless such waiver or variation is in writing and signed by the principal of PPV Australia.
We collect personal information in order to carry out this engagement. We handle it in accordance with the Privacy Act 1988 (Cth) and our privacy policy. We do not sell or disclose your information to third parties except as required to complete the valuation or as required by law.
9.1 These terms apply to each order placed with us and form the agreement between you and PPV Australia for that order.
9.2 We may update these terms from time to time. The version that applies to your order is the version you accepted when you placed it, recorded against your order reference.
9.3 This Agreement is governed by the laws of New South Wales.
Questions about these terms? Call 02 7229 4900 or email value@ppvaustralia.com.au.