Personal Property Assessment Form

Personal Property Assessment Form

Assessment ID:   Date of Assessment:   Assessor License No.:

Parties

Recitals

WHEREAS, Client engages Assessor to conduct a professional assessment and valuation of identified personal property described herein for the purposes set forth in this form; and

WHEREAS, Assessor represents that it is duly qualified, experienced and authorized to perform such assessments in accordance with generally accepted appraisal practices and applicable professional standards; and

WHEREAS, the parties agree the findings, valuation and related recommendations shall be provided under the terms and conditions set out below.

Scope of Work

The Assessor shall inspect, document and assess the personal property described in this form and prepare a written assessment report that includes itemized descriptions, condition assessments, valuation methodology and an overall assessed value. The Assessor shall base valuations on observable condition, available purchase records, market data and accepted depreciation methods.

Property Details (Itemized)

Complete a separate line for each item. Attach additional pages as necessary and indicate supporting documents.

Valuation & Depreciation

Depreciation Method Applied:   Useful Life Assumed:

Payment Terms

Assessment Fee: $   Payment Schedule:

Late Fee: . Payments not received within the stated terms may result in suspension of delivery of the final report and additional collection costs.

Term and Termination

This Agreement becomes effective on Start Date: and continues until End Date: unless earlier terminated pursuant to this section.

Either party may terminate this engagement upon written notice delivered at least days prior to termination. Termination shall not relieve Client of payment for services performed and reasonable costs incurred prior to termination.

Confidentiality

The Assessor agrees to treat all non-public information provided by Client as confidential and will not disclose such information except as required by law or as necessary to perform the services. The Assessor shall use confidentiality safeguards reasonably designed to protect Client's information from unauthorized disclosure.

The Client acknowledges that the Assessor's final report may contain work product and valuation methodologies that are proprietary to the Assessor; notwithstanding, the Assessor agrees not to disclose Client-specific confidential information absent Client's written consent.

Client confirms confidentiality obligations: I acknowledge and agree to the confidentiality provisions above.

Governing Law

This Agreement and any dispute arising out of or related to it shall be governed by and construed in accordance with the laws of the applicable jurisdiction selected by the parties. The parties submit to the exclusive venue of courts of competent jurisdiction in that jurisdiction for resolution of disputes.

Representations; Liability

Each party represents that it has authority to enter into this Agreement. The Assessor's liability for claims arising from this engagement shall be limited to direct damages not to exceed the fees paid for the assessment, except for willful misconduct or gross negligence.

Entire Agreement

This form, including attachments and any written engagement letter executed by the parties, constitutes the entire agreement between Client and Assessor concerning the subject matter and supersedes all prior agreements, understandings and communications, whether written or oral, relating thereto.

Certifications and Acknowledgements

The Client certifies that the information provided in this form and any attachments is true, complete and accurate to the best of the Client's knowledge. The Client understands that material misrepresentation may result in report invalidation and potential legal consequences.

Photos    Purchase invoices    Titles / Certificates    Other documents (describe below)

Assessor Findings & Recommendations

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