Terms & Conditions

DEFINITIONS

1. All transactions between THE VALUATOR ADVISORY and THE CLIENT shall be upon the terms and subject to the conditions herein and no variation or addition thereto shall be binding on THE VALUATOR ADVISORY unless expressly accepted by THE VALUATOR ADVISORY in writing.

2. The headings of the clauses in this agreement are for the purpose of convenience and reference only and shall not be used in the interpretation of nor modify nor amplify the terms of this agreement nor any clause hereof.

3. In these terms and conditions agreement, unless a contrary intention clearly appears, words importing:
3.1. any one gender include the other two genders, the singular include the plural and vice versa;
3.2. and natural persons include created entities (corporate or non-corporate) and vice versa;
3.3. the following terms shall have the meanings assigned to them here-under and cognate expressions shall have corresponding meanings, namely:

a. “Trade Marks” means collectively all patent, design, copyright and trade mark rights vesting in, belonging to or associated with THE VALUATOR ADVISORY, as the case may be, whether registered or unregistered.

b. “Trade Secrets” means all trade secrets and the methodology of valuations used by THE VALUATOR ADVISORY, proprietary rights, confidential and proprietary information, technical information, techniques, procedures, processes, models, manuals and systems and other secret and proprietary information, whether or not patentable which relates to THE VALUATOR, its business, and/or the Services and which is/are possessed, developed, invented, acquired, owned or licensed by the parties; provided, however, that Trade Secrets shall not include any Trade Secrets in the public domain.

SERVICE DELIVERY AND RESPONSIBILITY

1. The business of THE VALUATOR ADVISORY is to determine the fair value or replacement cost of assets, based upon generally accepted criteria, by suitably qualified Valuers using appropriate methodology. THE VALUATOR ADVISORY seeks to ensure that its service delivery remains satisfactory at all times in line with its SERVICE EXCELLENCE CAMPAIGN which offers best professional service for all valuation contracts undertaken.

2. There are many ways to determine the value of assets. While THE VALUATOR ADVISORY experts will use generally accepted criteria and methods to value assets, THE CLIENT is requested to provide as much information as possible which may assist Valuers in determining the value.

3. THE CLIENT acknowledges that information outside the control of THE VALUATOR ADVISORY is often required from sources independent of THE VALUATOR ADVISORY, which may influence the time taken to finalise reports. Subject to the above constraint, valuation reports and certificates (where required) will be presented to clients timeously.

4. If THE CLIENT has any queries with regard to the service provided by THE VALUATOR ADVISORY, he or she is welcome to contact Thando Thobakala, Director of The Valuator Advisory, on + 27 82 303 4876.

OWNERSHIP

1. THE VALUATOR ADVISORY retains ownership of the valuation report and certificate until the final payment for services rendered has been received from THE CLIENT.

CLIENT

1. Any intellectual property pertaining to the methods of valuation is the sole property of THE VALUATOR ADVISORY and THE CLIENT shall have no rights to such intellectual property as set out in this Agreement. THE CLIENT is required to keep all methodologies used by THE VALUATOR ADVISORY in assessing the value for assets confidential.

2. The information or data disclosed in terms of this agreement is personal as between THE VALUATOR ADVISORY and THE CLIENT.

FEES AND PAYMENT

1. THE VALUATOR ADVISORY provides an all inclusive valuation service at competitive rates within the prescribed valuation fees recommended by the South African Institute of Valuers. Fees will be charged according to the quotation submitted and accepted by THE CLIENT excluding VAT.

2. Disbursements, as set out in the quotation or if not so set out, subject to THE CLIENT’s approval, will be charged for travelling, including air travel, accommodation and vehicle hire.

3. Once THE CLIENT accepts the quotation, THE CLIENT will be required to pay a portion of the fee and disbursements detailed in the quotation. THE CLIENT will be presented with a draft valuation report for comment and once returned the final valuation report and certificate will be prepared and presented to THE CLIENT. Once the draft electronic valuation report has been sent to the CLIENT for comments the CLIENT shall pay the balance of the fees outstanding as per the invoice presented without any right of set-off or deduction. Interest, at the maximum rate allowed by law, will be charged on all amounts outstanding from the date the valuation report and certificate has been presented to THE CLIENT.

VALUATION REPORT & CERTIFICATE

1. There are numerous ways of valuing assets. Many different methodologies can be applied. Information is crucial to THE VALUATOR ADVISORY and THE CLIENT is required to provide all necessary information which could be material to Valuers in assessing values. For this reason THE VALUATOR ADVISORY has established an internal independent Review Committee to assess, comment and challenge all valuation reports prepared by Valuers employed or contracted.

2. THE CLIENT will be presented with a draft copy of the valuation report, once sanctioned by the Review Committee, for comment which, if required, must be submitted to THE VALUATOR ADVISORY within seven (7) working days from the date they received the draft report. The Valuers and Review Committee will assess and analyse comments from THE CLIENT prior to presenting their final valuation report and certificate.

3. Any unusual or relevant information important to THE VALUATOR ADVISORY must be provided by THE CLIENT with the assurance from THE VALUATOR ADVISORY that all information will be kept confidential at all times.

USE OF CONSULTANTS & EXCLUSIONS

1. Due to the wide range of valuation services offered by THE VALUATOR ADVISORY, independent consultants may be contracted to assist and provide information to be used in the valuation report.

2. In certain cases THE VALUATOR ADVISORY will appoint specialist experts whose reports will form part of the overall valuation report of THE VALUATOR ADVISORY.

LIMITATIONS ON LIABILITY

1. THE VALUATOR ADVISORY shall not be liable for:
1.1. loss of profits; or
1.2. loss of business; or
1.3. depletion of goodwill and/or similar losses; or
1.4. loss of anticipated savings; or
1.5. loss of goods; or
1.6. loss of contracts; or
1.7. any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

2. The Valuator Advisory will always supply CLIENTS with an initial draft valuation report for comment allowing CLIENT’S the opportunity to accept or reject the draft report. All valuations are subjective and CLIENT’S input is often required for both market or insurance valuations. The Valuator Advisory cannot be held accountable for inaccurate values if the client has not provided all the required information about the asset to be valued. The CLIENT is expected to notify The Valuator Advisory if anything looks inaccurate or erroneous.