Professional Standards & Ethics
The appraiser shall conduct himself or herself in all respects according to the Code of Ethics and AMEA Standards and Procedures Of Professional Appraisal Ethics and Practice of the Association of Machinery and Equipment Appraisers (AMEA).
This Code of Ethics contains principles to govern each individual appraiser’s conduct and practice. It is each member’s duty to adhere to the letter and spirit of his practice
according to this Code of Ethics. Each individual is obligated and agrees to be responsible for his or her conduct as follows:
- Conduct his/her appraisal activities in a professional manner,
demonstrating the highest level of integrity, which will reflect credit upon himself, and the accrediting organization, the Association of Machinery and Equipment Appraisers.
- The appraiser can accept only those assignments that he/she is
competent to perform and has the knowledge and ability to perform in a
- The client must be fully aware of any interest the appraiser has in
the machinery or equipment to be appraised. The appraiser must state
clearly that his 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 subject or self-serving or that are
based on any interests that may affect the validity of the appraisal.
- Compensation derived from an appraisal shall be based on the
nature and scope of the appraisal. The appraiser shall not derive
compensation for any appraisal contingent on predetermined values.
- The appraiser shall prepare the appraisal report and the opinions
expressed in it are his/hers and not that of another party.
- All appraisals are to be held in strict confidence between the
appraiser and his client, and shall not be furnished to another party unless
specifically requested to do so by his client or a court of law.
- The appraiser shall conform in all respects to the Code of Ethics
and Standards and Procedures of Professional Appraisal Practice of the
Association of Machinery and Equipment Appraisers.
- Advertising for or soliciting appraisal assignments in a manner, which is
false, misleading or exaggerated, is unethical.