Article 12 of the Saudi Accredited Valuers Law
المادة 12 من نظام المقيمين المعتمدين
This article requires the accredited valuer to put their name, license number and license date on all their printed materials, correspondence, reports and statements, and to provide the Authority with the necessary data on their activity as the Regulations provide.
Official text (Arabic)
This article has not been amended since the law was issued.
على المقيّم المعتمد أن يضع اسمه ورقم ترخيصه، وتاريخه على جميع مطبوعاته ومراسلاته، وجميع ما يصدر عنه من تقارير وبيانات . وعليه أيضاً أن يزود الهيئة بالبيانات اللازمة عن نشاطه وفقاً لما تحدده اللائحة التنفيذية .
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 12 explained in plain English
This article places two duties on the accredited valuer, concerning transparency and information.
First duty: details on documents
The accredited valuer must put:
- Their name.
- Their license number.
- The license date.
on:
- All their printed materials and correspondence.
- All reports and statements issued by them.
Second duty: providing the Authority with data
They must provide the Authority with the necessary data on their activity, as the Implementing Regulations determine. The article does not specify the type of this data or how often it is provided.
Practical effect:
- A valuation report received by a client, such as a bank, a buyer or a court, should bear the valuer's name, license number and date, which makes it easy to verify their status.
- The absence of these details from a report means the valuer has not complied with this article.
Relationship to other articles:
- Article 11 allows an individual valuer to name their office provided the name is accompanied by their personal name, and requires them to display their license in a prominent place in the office.
- Article 13 prohibits the valuer from combining practice of the profession with work that conflicts with the conduct and ethics of the profession, as the Implementing Regulations determine.
Anyone who has received a valuation report whose details they doubt can consult a lawyer who specializes in real estate or commercial cases, depending on the type of valuation.
Practical example
A bank in Riyadh received a valuation report for a property offered as security for financing, and noticed that the report does not bear the valuer's license number. Under the article, an accredited valuer must put their name, license number and date on all reports issued by them.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 12 of the Saudi Accredited Valuers Law
What details must appear in a valuation report?
The accredited valuer's name, license number and license date, on all reports, statements, printed materials and correspondence issued by them.
Must a valuer provide the Authority with data about their activity?
Yes, as the Implementing Regulations determine.
More articles on Duties of the Accredited Valuer
- Article 11
This article allows an individual accredited valuer to name their office provided the name includes their personal name, and requires them to display their license in a prominent place in the office.
للمقيّم المعتمد - إذا كان شخصاً ذا صفة طبيعية - أن يضع اسماً لمكتبه، بشرط أن يكون مقروناً باسمه الشخصي . وعليه أن يضع الترخيص الممنوح له في مكان بارز من المكتب
- Article 13Amended (1441 AH)
This article prohibits an accredited valuer from combining practice of the profession with work that conflicts with the conduct and ethics of the profession, as the Implementing Regulations determine.
لا يجوز للمقيّم المعتمد الجمع بين مزاولة المهنة ومزاولة الأعمال التي تتعارض مع سلوك المهنة وآدابها، وفقاً لما تحدده اللائحة التنفيذية.
- Article 14
This article requires an individual accredited valuer to sign their reports personally, and requires the report of a firm to be signed by the partner who took part in the valuation or actually supervised it, and prohibits delegating the signature.
يجب أن يوقع المقيّم المعتمد نفسه تقارير التقييم التي يصدرها إذا كان المقيّم شخصاً ذا صفة طبيعية ، أما إن كان ذا صفة اعتبارية فيجب أن يوقع الشريك الذي شارك في ال
- Article 15
This article requires the accredited valuer to comply with the conduct and ethics of the profession, valuation standards, the Authority's technical standards and legal duties, and to give the Ministry and the Authority any information they request to verify their performance.
يجب على المقيّم المعتمد التقيد بسلوك المهنة وآدابها، ومعايير التقييم، والمعايير الفنية التي تصدرها الهيئة، والواجبات المحددة بموجب الأنظمة واللوائح التي تحكم عم
- Article 16
This article requires the core member of the Saudi Authority for Accredited Valuers to attend professional education programs as the Authority determines.
يلتزم العضو الأساسي بحضور برامج التعليم المهني وفق ما تحدده الهيئة .
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.