Article 15 of the Saudi Accredited Valuers Law
المادة 15 من نظام المقيمين المعتمدين
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.
Official text (Arabic)
This article has not been amended since the law was issued.
يجب على المقيّم المعتمد التقيد بسلوك المهنة وآدابها، ومعايير التقييم، والمعايير الفنية التي تصدرها الهيئة، والواجبات المحددة بموجب الأنظمة واللوائح التي تحكم عمل الهيئة . ويجب عليه أيضاً موافاة الوزارة والهيئة بأي معلومة تطلبها للتأكد من أدائه لعمله وفقاً لهذا النظام .
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 15 explained in plain English
This article sets the general framework of the valuer's professional obligations.
First: what must be complied with
- The conduct and ethics of the profession.
- Valuation standards, which under Article 1 are the standards adopted by the Authority.
- The technical standards issued by the Authority.
- The duties set under the laws and regulations that govern the Authority's work.
Second: the duty to cooperate with the supervisory bodies
The valuer must give the Ministry and the Authority any information they request, in order to verify that the valuer performs their work in accordance with this law. Under Article 1, the Ministry is the Ministry of Commerce and Industry.
Practical effect:
- Valuation is not unrestricted personal judgment; it must comply with the valuation standards adopted by the Authority.
- If the Ministry or the Authority asks the valuer for information to verify their performance, the valuer must provide it.
Relationship to other articles:
- Article 14 requires an individual valuer to sign their reports personally, and the partner who took part in or supervised the valuation to sign a firm's reports, with no delegation.
- Article 16 requires the core member to attend professional education programs as the Authority determines.
Anyone who believes a valuation was prepared without complying with the adopted valuation standards can consult a lawyer who specializes in real estate or commercial cases, depending on the type of valuation.
Practical example
An accredited valuer in Jeddah gave a valuation of a commercial plot of land without following the valuation standards adopted by the Authority. Under the article, the valuer must comply with the valuation standards and the technical standards issued by the Authority, and if the Authority or the Ministry asks for information to verify the valuer's performance, the valuer must provide it.
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 15 of the Saudi Accredited Valuers Law
Must an accredited valuer follow specific standards?
Yes. The valuer must comply with the conduct and ethics of the profession, valuation standards and the technical standards issued by the Authority.
Must a valuer give information to the Ministry and the Authority?
Yes. The valuer must give the Ministry and the Authority any information they request to verify that the valuer performs their work in accordance with the law.
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 12
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.
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 الل
- 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 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.