When it comes to ethical conduct, no one in the appraisal industry takes it as seriously as NEBB Institute.
We’ve discussed the NEBB Institute Code of Ethics & Competency Appraiser Awareness Program before, but it’s important that we revisit it from time to time. Why? Because if we require our CMEAs to attend a CMEA refresher course once a year (and we do), then we should also remind our clients, our partners, and ourselves about the strict code to which we adhere.
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, the Code of Ethics & Competency Appraiser Awareness Program. This program is designed to protect the public from unsubstantiated or questionable machinery and equipment appraisals. The NEBB Institute requires CMEA-certified appraisers to adhere to the stricter code.
The program has an official seal, which the NEBB Institute 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 NEBB Institute Code of Ethics has 21 points of compliance, which can be viewed here.
By: NEBB Institute
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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