Professional valuation activity in Russia is regulated by Russian federal law N 135-FZ “About Valuation Activity in Russian Federation” and Russian federal valuation standards.
According to the law, in order to be able to provide professional valuation services in Russian Federation an independent valuer must comply with the following key requirements:
1. Be a member of one of the state-registered self-regulating professional organizations of independent valuers.
2. Pass professional exam(-s) and obtain qualification certificate(-s), confirming professional competence.
There are three types of the qualification certificates – one for each area of specialization (real estate appraisal, appraisal of business and intellectual property and movable property appraisal).
Qualification certificate must be renewed every three years.
3. Valuer’s professional liability must be insured.
4. Appraisal firm (legal entity) must have at least two full-time employees qualified as independent valuers according to pp.1-3 above.
Our professional valuation services are provided in full compliance with Russian federal requirements.
All of our valuers are members of the Russian Society of Appraisers (RSA), the biggest and most recognizable self-regulating professional organization of independent appraisers in Russia.
Our valuers have valid qualification certificates in all three areas of specialization - real estate appraisal, appraisal of business and intellectual property and movable property appraisal.
Our professional liability is insured in INGOSSTRAKH and ALPHA, two leading Russian insurance companies. In addition to liability insurance, our professional organization
(Russian Society of Appraisers, RSA) has its own special fund, called "compensatory fund" dedicated to compensate customers for any losses caused by mistakes of valuers during valuations.
Having all our liability covered, we would like to mention that during the entire history of our company there wasn’t a single case when any of these insurance options were needed or used.
For more information on our valuation services, please contact us.