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Appraisal FAQs: Is It Important that Your Appraiser Has a Professional Designation to Prepare and Submit an Equipment Appraisal?

March 7, 2012

Answer: Yes! It is very important that the appraiser you choose has a professional designation to value your equipment. You can rely with confidence on a trained professional who is experienced in the ethics and reporting quidelines of USPAP. Gone are the days when a non-certified equipment appraisal will be accepted by governing authorities or withstand scrutiny.

A Certified Machinery and Equipment Appraiser (CMEA) is a professional who has the training, knowledge, experience, and background to render a Certified Machinery and Equipment Appraisal Report. All CMEA professionals receive extensive continuous training on a monthly basis and are subject to peer review on a regular basis. Only after a professional passes a comprehensive written examination and submits an appraisal that has passed peer review is he/she awarded the prestigious professional designation of CMEA by the National Equipment & Machinery Brokers Institute. In addition, the professional is required to re-certify every five years.

More importantly, a CMEA is required to observe the highest standards of professional ethics and comply with regulations mandated by the Uniform Standards of Professional Appraisal Practice (USPAP). Only the skills of a CMEA professional make sound financial business sense to determine an accurate value.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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