1. Uphold the integrity and fairness of the appraisal process by:
(a) observing high standards of conduct so that the integrity and fairness of the process will be preserved; and
(b) recognizing a responsibility to the public, to the parties whose rights will be decided, and to all participants in the proceedings.
2. Accept appointment as an appraiser only if fully satisfied that the appraiser:
(a) has received and read the terms of the policy language governing the appraisal and can serve in compliance with the terms of the policy;
(b) will act with utmost integrity, full disclosure and transparency;
(c) is physically able to serve;
(d) is competent to serve; and
(e) can be available to commence the appraisal in accordance with any requirements and thereafter to devote the time and attention to its completion that the parties are reasonably entitled to expect.
3. Immediately disclose any current or prior business or personal relationship with any other party, legal counsel, appraiser, umpire or expert.
4. At the outset of the appraisal process, inform his or her client about the process, potential outcomes, and potential costs of the appraisal process.
5. Provide the umpire with the name, address and contact phone number for the person directly responsible for payment of the invoice.
Confirm in writing any fee arrangement with the party who retained the appraiser.
6. Keep true and accurate records of time, expense and fee billings.
7. Have full authority to reach an agreement and execute the Award without consulting with his or her respective client.
8. Participate in the appraisal process so as to advance the fair and efficient resolution of the matters submitted for decision.
9. Make all reasonable efforts to prevent delaying tactics.
Make all reasonable efforts to follow the law of the jurisdiction where the property is located.
10. Avoid impropriety or the appearance of impropriety in communicating with the Umpire.
11. Make decisions in a just, independent and deliberate manner with utmost integrity.
12. Decide all issues submitted for determination regarding the amount of loss.
13. Decide all matters justly, exercising independent judgment and utmost integrity, and not permit pressure from outside the appraisal process to affect the decision.
14. Be faithful to the relationship of trust and confidentiality inherent to that office.
15. Ensure that any information used in advertising or promoting one’s services as an appraiser, including organizational certifications, affiliations and/or licenses, is up-to-date, truthful and accurate.
16. Maintain records in good order during the appraisal process in accordance with any applicable rules or guidelines for preservation once the matter is concluded.
17. Keep an updated list of all properties and parties for which he or she served as an appraiser for a period of seven (7) years.