Article 17 of the Saudi Accredited Valuers Law

المادة 17 من نظام المقيمين المعتمدين

This article requires the accredited valuer to keep everything relating to the valuation and clients' paper and electronic data and documents for 10 years from their final report, or until a final judgment if a related lawsuit is filed.

Official text (Arabic)

This article has not been amended since the law was issued.

على المقيّم المعتمد ـ في جميع الأحوال ـ الاحتفاظ بجميع ما يتعلق بالتقييم والبيانات والمستندات الورقية والإلكترونية التي يقدمها العملاء مدة عشر سنوات من تاريخ إصدار تقريره النهائي . وفي حال رفع دعوى لها صلة بذلك فعليه أن يحتفظ بجميع ما ذكر حتى صدور حكم نهائي فيها .

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 17 explained in plain English

This article regulates keeping valuation documents.

What must be kept?

Everything relating to the valuation.
The data and documents provided by clients, paper and electronic.

How long to keep them:

The rule: 10 years from the date of issuing the final report.
If a related lawsuit is filed: all of the above must be kept until a final judgment is issued in it.

The phrase “in all cases”: confirms that the obligation always applies to the accredited valuer and is not limited to particular cases.

Practical effect:

The period is counted from the date of the final report, not from the date the valuation began or the documents were received.
If a lawsuit related to the valuation is filed, the documents may not be disposed of before a final judgment is issued, even if the ten years have passed.
The retention covers the electronic form, so it is not enough to keep paper without the electronic data clients provided.

Relationship to other articles: Article 18 requires the valuer to keep all information relating to the valuation process confidential, and not to let anyone see it except with the client's written consent or at the request of the competent official bodies. Retention and confidentiality are therefore complementary obligations. Article 16 also requires the core member to attend professional education programs.

Anyone who is a party to a dispute over a valuation and needs its documents can consult a lawyer who specializes in commercial or real estate cases.

Practical example

An accredited valuer in Dammam issued a final report valuing a plot of land 9 years ago, and then one of the heirs filed a lawsuit concerning the division of the land and relied on the valuation. Under the article, the valuer must keep all the valuation documents until a final judgment is issued in the lawsuit, even if the period exceeds 10 years.

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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