Article 18 of the Saudi Accredited Valuers Law

This article establishes the accredited valuer's duty of confidentiality.

Scope of confidentiality: all information relating to the valuation process. Confidentiality is not limited to the final report; it covers every piece of information relating to the valuation process.

What is prohibited: the valuer letting anyone see this information.

The only two exceptions:

1. The client's written consent: verbal consent is not enough; the text requires it to be in writing.
2. A request from the competent official bodies.

Practical effect:

• A valuer may not disclose the value of a property or company they valued to a third party, such as a prospective buyer or a competitor, without the client's written consent.
• If a competent official body requests the information, providing it does not breach confidentiality.
• A valuer should obtain the client's consent in writing before sharing any information, because the text requires writing.

Relationship to other articles:

• Article 17 requires the valuer to keep everything relating to the valuation and clients' documents for 10 years from the date of the final report, or until a final judgment is issued if a related lawsuit is filed.
• Article 19 makes an individual valuer responsible for compensating the harm that affects the client or third parties because of their errors in performing their work, and makes the liability joint among the partners if the valuer is a firm.

Anyone whose valuation information was disclosed without their consent can consult a lawyer who specializes in civil cases and compensation.