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Code of Ethics

May 26, 2010

Like most industries, the machinery and equipment appraisal business operates under a code of ethics, a set of rules that governs the practices of anyone involved in the profession. The National Equipment & Business Builders Institute (NEBBI), however, felt that the industry standards weren’t strong enough, and came up with its own code of ethics, called the Code of Ethics & Competency Appraiser Awareness Program. The program is designed to protect the public from unsubstantiated or questionable machinery and equipment appraisals. The NEBBI requires CMEA-certified appraisers to adhere to the stricter code.

The program has an official seal, which the NEBBI uses to certify that an appraiser is competent. This assures an appraisal will be substantiated, accurate, irrefutable, and defensible, and will withstand scrutiny. This eliminates the problem of appraisers who guess, or rely on book value or the opinions of non-certified persons.

The NEBBI Code of Ethics has 21 points of compliance, which can be viewed here. When it comes to ethical conduct, no one in the industry takes it as seriously as the NEBBI.

By: NEBB Institute

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