This Appraisal contract template is designed for use in Indonesia when engaging professional valuation services for real estate, business assets, or other property types. The document incorporates requirements from Indonesian civil law, Ministry of Finance regulations, and MAPPI professional standards. It is typically used when requiring formal property valuations for various purposes including sale/purchase transactions, financial reporting, tax compliance, insurance, or lending purposes. The contract ensures protection for both the appraiser and the client by clearly defining the scope of work, methodology, deliverables, and professional obligations while maintaining compliance with Indonesian regulatory requirements. This template is particularly important given Indonesia's specific property rights system and valuation standards.
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1. Parties: Identification of the appraiser and the client, including their respective registration/license numbers and contact details
2. Background: Context of the appraisal request and brief description of the property or asset to be appraised
3. Definitions: Key terms used in the agreement, including technical appraisal terminology and Indonesian legal terms
4. Scope of Services: Detailed description of the appraisal services to be provided, including purpose and intended use of the valuation
5. Methodology: Outline of the valuation approach and methods to be used in accordance with Indonesian Valuation Standards
6. Timeline and Deliverables: Specific deadlines for the appraisal process and format of deliverable reports
7. Fees and Payment Terms: Detailed breakdown of fees, payment schedule, and payment methods
8. Rights and Obligations: Specific responsibilities and obligations of both parties during the appraisal process
9. Confidentiality: Terms regarding the handling and protection of confidential information
10. Professional Standards: Reference to compliance with MAPPI standards and other relevant professional requirements
11. Limitation of Liability: Scope and limits of the appraiser's professional liability
12. Termination: Conditions and process for early termination of the agreement
13. Governing Law: Specification of Indonesian law as governing law and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Insurance: Details of professional indemnity insurance, required when dealing with high-value properties or specific client requirements
2. Dispute Resolution: Alternative dispute resolution procedures, recommended for high-value assignments or international clients
3. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in challenging property access situations
4. Assignment: Terms regarding the transfer of rights under the agreement, needed when working with corporate clients
5. Subcontracting: Terms for engaging third-party specialists, relevant when specific expertise is required
6. Client's Obligations: Detailed client responsibilities, important for complex properties requiring extensive documentation
7. Conflict of Interest: Specific provisions regarding potential conflicts, particularly important for regulated or public sector clients
1. Schedule A - Property Details: Detailed description of the property/asset to be appraised, including location, specifications, and current status
2. Schedule B - Fee Structure: Detailed breakdown of fees, including any conditional or variable components
3. Schedule C - Required Documents: List of documents and information required from the client for the appraisal
4. Schedule D - Timeline: Detailed project timeline including key milestones and deliverable dates
5. Schedule E - Report Format: Specified format and content requirements for the appraisal report
6. Appendix 1 - Professional Qualifications: Copies of relevant professional licenses and certifications
7. Appendix 2 - Insurance Certificates: Copies of professional indemnity insurance certificates when required
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Finance
Insurance
Construction & Development
Government & Public Sector
Manufacturing
Retail
Hospitality
Industrial
Infrastructure
Agriculture
Mining
Relevant Teams
Legal
Finance
Real Estate
Property Management
Asset Management
Risk Management
Compliance
Investment
Facilities
Treasury
Credit Risk
Relevant Roles
Property Appraiser
Real Estate Valuator
Chief Financial Officer
Finance Director
Real Estate Manager
Asset Manager
Property Manager
Investment Manager
Risk Manager
Compliance Officer
Legal Counsel
Property Development Manager
Facilities Manager
Treasury Manager
Credit Risk Officer
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