Confidentiality and Code of Ethics is the structure of an appraisers behavior and character. Without it, there would be no integrity in the industry. You could say that Confidentiality and Code of Ethics is what shapes the appraiser and provides standards to follow.
Confidentiality and Code of Ethics
An appraiser must protect the confidential nature of the appraiser-client relationship. The responsibility extends to the use of confidential information and in communication of assignment results. CPPAG appraisers must be conversant with PIPEDA (Personal Information Protection and Electronic Documents Act); and,
An appraiser must not disclose confidential information or assignment results to anyone other than the client or persons specifically authorized by the client, other than as may be authorized by due process of law.
Confidentiality : An appraiser must not disclose confidential information obtained from a client, or appraisal results, except to:
1. a client and persons authorized by the the client;
2. third parties as authorized by due process of law ; or
3. a duly authorized professional peer review committee
Code of Ethics
The appraiser will accept an assignment only if the appraisal can be performed without bias.
* The appraiser shall disclose any interest in the subject property.
* The appraiser shall obtain all relevant facts relating to the subject property in order to form the final analysis of value.
* The appraiser shall respect and maintain the confidential nature of an appraisal report. The contests of the report shall not be disclosed to third parties unless by court order, or by consent of the client.
* The appraiser shall put all formal appraisal reports in writing which will be certified by their signature.
* The appraiser shall not assess any “prohibited fee” in seeking compensation for the report.
* The appraiser shall maintain and demonstrate respect for others in the appraisal profession.