Equipment Appraisers Association of North America

Code of Ethics

The Equipment Appraisers Association of North America Code of Ethics requires principles to govern and individual appraiser members to adhere to a professional level of integrity, practice, and conduct.

Article 1

Recognize, understand, and promulgate the standards and the rules of the EAANA

Article 2

Comply with the Uniform Standards of Professional Appraisal Practice as promulgated by The Appraisal Standards Board of The Appraisal Foundation.

Article 3

Accurately disclose and promote one's skills and abilities. Accept only those assignments that can be performed with competence in a professional manner.

Article 4

Incorporate the expertise of others when necessary and state the degree of that participation.

Article 5

Each member is committed to continuously expand and develop his or her skills and abilities.

Article 6

Provide an opinion of values that is unbiased and objective. Clients must be fully aware of any interest by the appraiser in the items to be appraised.

Article 7

All agreements must be in writing and approved by both parties before the assignment starts.

Article 8

Understand and recognize the fiduciary relationships which exist between the client and the appraiser. Confidentiality must be highly regarded and protected.

Article 9

Compensation paid for an appraisal shall be based on the nature and scope of same.

Article 10

Conduct all appraisal assignments as if they were going to be tested by a court of law. Document and keep all research results.

Article 11

Values will be based on the facts of the inspection or review of information provided, backed by documented research and experience in the marketplace.

Article 12

Any member found providing values as instructed by clients shall be barred from the association for life.