Article 16 of the Saudi Accredited Valuers Law
المادة 16 من نظام المقيمين المعتمدين
This article requires the core member of the Saudi Authority for Accredited Valuers to attend professional education programs as the Authority determines.
Official text (Arabic)
This article has not been amended since the law was issued.
يلتزم العضو الأساسي بحضور برامج التعليم المهني وفق ما تحدده الهيئة .
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 16 explained in plain English
This article places an obligation on the core member of the Authority: attending professional education programs.
Who is bound? The core member of the Authority. The text mentions no other category.
What is the obligation? Attending professional education programs.
Who determines the details? The Authority. The text says “as the Authority determines”, so the type of programs, their number, their dates and the attendance requirements are all matters the Authority determines, and the law does not state them.
Why this obligation? The valuation profession develops as markets and standards develop, and the valuer is required to comply with the valuation standards and technical standards issued by the Authority. Professional education helps the valuer keep up with these standards and update their knowledge.
Relationship to other articles:
- Article 15 requires the accredited valuer to comply with the conduct and ethics of the profession, valuation standards, the technical standards issued by the Authority and the duties set under the laws and regulations that govern the Authority's work, and to give the Ministry and the Authority any information they request.
- Article 17 requires the accredited valuer to keep everything relating to the valuation and the data and documents provided by clients for 10 years from the date of issuing their final report.
Practical effect: a core member who does not attend the professional education programs the Authority determines has breached this obligation. The article itself does not set a penalty for the breach. Anyone with a question about the professional education requirements can contact the Authority or consult a lawyer who specializes in commercial cases.
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 16 of the Saudi Accredited Valuers Law
Must an accredited valuer attend training programs?
The core member must attend professional education programs as the Authority determines.
Who determines the professional education programs?
The Saudi Authority for Accredited Valuers.
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 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
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.