Definition of Machinery and Equipment
Machinery and Equipment refer to all tangible assets - and all related interests, rights and liabilities - weather individual or combined and are used, for example, in industrial, production and transportation purposes, or assisting operational, administrative and supply services.
Definition of Machinery and Equipment Valuation
The act or process of determining the value of various machinery and equipment or interests ac- cording to a purpose and basis of value.
How can I practice Machinery and Equipment Valuation
How do I practice valuation profession 
Purpose of valuation 
Memberships
Fellowship Certification 
License to practice profession and Entry in the Valuers' Registry
Members and Firms
Member Obligationsمراجع مهمة في تقييم الآلات والمعدات
Purpose of valuation
Buying and selling
Mergers and acquisitions
Financing
Liquidation
Inheritance and expropriation
Mortgage
Machinery and Equipment Memberships
General Requirements to obtain the membership
- To be legally competent.
- To be of good conduct and has never been convicted by a final court judgment of a crime involving a breach of honor or public trust unless rehabilitated.
- All data, documents, and forms required by the Authority shall be attached with the membership application.
- Paying annual membership fees.
The following are required for applicants:
- Regularly studying any major entitling him to obtain an academic degree from a recognized university.
- Shall be Saudi.
- The Applicant shall not be more than 25 years.
The following are required for applicants:
- An academic degree from a recognized university in any discipline adopted by the Authority.
- Passing the First Level of Fellowship Certificate Exams in Machinery and Equipment Valuation Sector
The following are required for applicants:
- A fellowship certificate in Machinery and Equipment Valuation sector.
- An academic degree from a recognized university in any discipline adopted by the Authority.
- Recording 2000 hours of practice in web portable.
General conditions for granting the Fellowship certificate
- أن يكون حاصلاً على درجة جامعية في أحد التخصصات المعتمدة بحسب كل فرع من فروع التقييم وفقاً لما تحدده لائحة عضوية الهيئة
- Pass all fellowship certification exams according to each valuation sector.
- Complete the required experience hours to obtain the Fellowship Certificate.
- Pass interviews conducted by the General Secretariat to verify the fulfillment of requirements under these Rules.
License to practice the profession
A person who is applying for registration , the conditions stipulated in Article (5) of the Law shall be met, which conditions are:
- be a Saudi national;
- be legally competent;
- be of good conduct, and not convicted of «hadd» [Sharia prescribed punishment], or of a crime impinging on honor or integrity, unless rehabilitated;
- obtain the Fellowship certificate;
- be a Taqeem basic member.
Those who are granted a license shall meet the following conditions:
- Obtaining a valid Basic Membership.
- Be registered in the Registry.
- All data, documents, and forms required by the Authority shall be attached with the license application.
- Paying licensing fees.
Members and Firms
Member Obligations
- Work according to valuation standards provided by Taqeem.
- Work or train in a licensed valuation firm according to a valid contract.
- Sign all reports and works in which the member participated.
- The member shall not provide valuation service to more than one client for the same asset except after obtaining the written consent from all clients.
- Present membership and accredited valuer license of the person or firm they work for when carrying out any valuation work.
- Commit to maintain the validity of membership while working at the valuation firm.
Obligations of the valuation License's holder to practice Profession Holder
- To practice the profession in accordance with the provisions and rules regulating the valuation profession.
- To practice the profession through the valuation firm.
- To enable the Authority or its representative to exercise its authorized tasks in the professional performance quality supervision and detect violations.
- To indicate, when signing valuation reports, the type of sector licensed to practice the profession and its basic membership category.
- To sign all the reports he issues in accordance with Article (14) of the Law and ensure that all participants in the preparation of the report from its subordinates in the firm sign the report. Anyone who performs inspection or makes economic or financial and similar studies related to determining the value of the asset subject to valuation shall be deemed to have participated in the preparation of the report.
- All valuation reports issued by the valuer shall be in Arabic, and another language may be used if the approved valuer agrees with the client on the same, provided that the approved valuer shall provide the Authority or any of the competent official authorities with a certified copy of his report in Arabic upon request.
- Make an integrated work file for each final valuation report issued by him, including written reports, correspondences, notes, documents, information, data, inspections, sources, used methods, analysis, calculations, and a statement of all actions taken to support and confirm the validity of the valuation result.
- Place a plaque on the headquarters and branches (if any) of the valuation firm to indicate the practice of the profession, provided that such a plaque shall meet the conditions and requirements set by the Authority in this regard.
- All valuers and anyone participating in preparing the valuation report in the valuer's firm shall hold a valid membership, and work under the valuer's supervision and responsibility in accordance with legal employment contracts, and shall be registered in the firm's account, while ensure that their memberships in the Authority shall be renewed before expiration. However, the same shall not be prejudice to the special controls -as adopted by the Council- that exclude some of the provisions of this paragraph in a way that does not conflict with legal and professional requirements.
- To project his membership and license when undertaking any valuation works , including site work such as inspection and others, and ensure that all his employees adhere to the provisions of this paragraph.
- To observe the provisions of Labor Law, the regulations thereof, and relevant circulars and decisions.
- Contributing to train associate and student members as arranged by the Authority.
- To renew his membership in the Authority and his professional license before expiration. All partners are required to this obligation if the approved valuer is a legal person.
- To adhere to the rules and instructions made by the Authority to regulate the approved valuer's work in a valuation firm other than the valuer's own firm.
- To adhere to the minimum stated in the valuation report forms and the valuation services contract.
- To adhere to the technical and professional rules and instructions communicated by the Authority.
مراجع مهمة في تقييم الآلات والمعدات
مراجع مهمة في تقييم الآلات والمعدات
معايير التقييم الدولية 2022
النسخة العربية من معايير التقييم الدولية لعام 2022 م
Machinery and Equipment Manual
Machinery and Equipment Manual