Machinery & Equipment Valuation – الهيئة السعودية للمقيمين المعتمدين

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.

Purpose of valuation

Buying and selling

Financing

Mergers and acquisitions

Buying and selling

Financing

Mergers and acquisitions

Liquidation

Commercial mortgage

Inheritance and dispute resolution

Liquidation

Commercial mortgage

Inheritance and dispute resolution

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.

Associate Student Member

شروط الحصول على العضوية

Associate member

شروط الحصول على العضوية

Basic member

شروط الحصول على العضوية

الحصول على شهادة الزمالة في فرع تقييم العقارات
أن يكون حاصلاً على درجة البكالوريوس في أي تخصص من إحدى الجامعات المعترف بها، ما لم يكن من الأعضاء الأساسين المستثنين بموجب المادة (الأربعون) من النظام
‌‌‌‌تسجيل 3000 ساعة خبرة في بوابة الخدمات الإلكترونية

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، ما لم يكن من الأعضاء الأساسين المستثنين بموجب المادة (الأربعون) من النظام
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.

Experience Hours Required

Hours of experience consist of direct hours and indirect hours. Direct experience hours denotes hours from result from carrying out valuation work, and are calculated through valuation reports, while hours of indirect experience are those that result from supervising the work of valuators, or performing work related to valuation. It is calculated in years of experience.

To obtain the fellowship certificate, at least (3000) hours of experience must be registered in the member’s account in Qima portal, provided that at least 50% of hours of professional practice are gained from valuation work.

Requirements for entry in the accredited valuers’ registry:

be a Saudi national

be legally competent

obtain the Fellowship certificate

be a basic member of Taqeem

be of good conduct, and not convicted of «hadd» [Sharia prescribed punishment], or of a crime impinging on honor or integrity, unless rehabilitated

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 basic member of Taqeem

Members and Firms

Licensed Firms

Members List

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.

Purpose of valuation

Buying and selling

Financing

Mergers and acquisitions

Buying and selling

Financing

Mergers and acquisitions

Liquidation

Commercial mortgage

Inheritance and dispute resolution

Liquidation

Commercial mortgage

Inheritance and dispute resolution

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.

Associate Student Member

شروط الحصول على العضوية

Associate member

شروط الحصول على العضوية

Basic member

شروط الحصول على العضوية

الحصول على شهادة الزمالة في فرع تقييم العقارات
أن يكون حاصلاً على درجة البكالوريوس في أي تخصص من إحدى الجامعات المعترف بها، ما لم يكن من الأعضاء الأساسين المستثنين بموجب المادة (الأربعون) من النظام
‌‌‌‌تسجيل 3000 ساعة خبرة في بوابة الخدمات الإلكترونية

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، ما لم يكن من الأعضاء الأساسين المستثنين بموجب المادة (الأربعون) من النظام
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.

Experience Hours Required

Requirements for entry in the accredited valuers’ registry:

be a Saudi national

be legally competent

obtain the Fellowship certificate

be a basic member of Taqeem

be of good conduct, and not convicted of «hadd» [Sharia prescribed punishment], or of a crime impinging on honor or integrity, unless rehabilitated

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 basic member of Taqeem

Members and Firms

Licensed Firms

Members List

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.