- All transactions between THE VALUATOR GROUP and THE CLIENT shall be upon the terms and subject to the conditions herein and no variation or addition thereto shall be binding on THE VALUATOR GROUP unless expressly accepted by THE VALUATOR GROUP in writing.
- The headings of the clauses in this agreement are for the purpose of convenience and reference only and shall not be used in the interpretation of nor modify nor amplify the terms of this agreement nor any clause hereof.
- In these terms and conditions agreement, unless a contrary intention clearly appears, words importing:
- any one gender include the other two genders, the singular include the plural and vice versa;
- and natural persons include created entities (corporate or non–corporate) and vice versa;
- the following terms shall have the meanings assigned to them here-under and cognate expressions shall have corresponding meanings, namely:
- “Trade Marks” means collectively all patent, design, copyright and trade mark rights vesting in, belonging to or associated with THE VALUATOR GROUP, as the case may be, whether registered or unregistered.
- “Trade Secrets” means all trade secrets and the methodology of valuations used by THE VALUATOR GROUP, proprietary rights, confidential and proprietary information, technical information, techniques, procedures, processes, models, manuals and systems and other secret and proprietary information, whether or not patentable which relates to THE VALUATOR, its business, and/or the Services and which is/are possessed, developed, invented, acquired, owned or licensed by the parties; provided, however, that Trade Secrets shall not include any Trade Secrets in the public domain.
SERVICE DELIVERY AND RESPONSIBILITY
- The business of THE VALUATOR GROUP is to determine the fair value or replacement cost of assets, based upon generally accepted criteria, by suitably qualified Valuers using appropriate methodology. THE VALUATOR GROUP seeks to ensure that its service delivery remains satisfactory at all times in line with its SERVICE EXCELLENCE CAMPAIGN which offers best professional service for all valuation contracts undertaken.
- There are many ways to determine the value of assets. While THE VALUATOR GROUP experts will use generally accepted criteria and methods to value assets, THE CLIENT is requested to provide as much information as possible which may assist Valuers in determining the value.
- THE CLIENT acknowledges that information outside the control of THE VALUATOR GROUP is often required from sources independent of THE VALUATOR GROUP, which may influence the time taken to finalise reports. Subject to the above constraint, valuation reports and certificates (where required) will be presented to clients timeously.
- If THE CLIENT has any queries with regard to the service provided by THE VALUATOR GROUP, he or she is welcome to contact Gavin Commins, CEO of THE VALUATOR GROUP, on +2782 900 5385 .
- THE VALUATOR GROUP retains ownership of the valuation report and certificate until the final payment for services rendered has been received from THE CLIENT.
- Any intellectual property pertaining to the methods of valuation is the sole property of THE VALUATOR GROUP and THE CLIENT shall have no rights to such intellectual property as set out in this Agreement. THE CLIENT is required to keep all methodologies used by THE VALUATOR GROUP in assessing the value for assets confidential.
- The information or data disclosed in terms of this agreement is personal as between THE VALUATOR GROUP and THE CLIENT.
FEES AND PAYMENT
- THE VALUATOR GROUP provides an all inclusive valuation service at competitive rates within the prescribed valuation fees recommended by the South African Institute of Valuers. Fees will be charged according to the quotation submitted and accepted by THE CLIENT excluding VAT.
- Disbursements, as set out in the quotation or if not so set out, subject to THE CLIENT’s approval, will be charged for travelling, including air travel, accommodation and vehicle hire.
- Once THE CLIENT accepts the quotation, THE CLIENT will be required to pay a portion of the fee and disbursements detailed in the quotation. THE CLIENT will be presented with a draft valuation report for comment and once returned the final valuation report and certificate will be prepared and presented to THE CLIENT. Once the documents have been delivered THE CLIENT shall pay the balance of the fees outstanding as per the invoice without any right of set-off or deduction. Interest, at the maximum rate allowed by law, will be charged on all amounts outstanding from the date the valuation report and certificate has been presented to THE CLIENT.
VALUATION REPORT & CERTIFICATE
- There are numerous ways of valuing assets. Many different methodologies can be applied. Information is crucial to THE VALUATOR GROUP and THE CLIENT is required to provide all necessary information which could be material to Valuers in assessing values. For this reason THE VALUATOR GROUP has established an internal independent Review Committee to assess, comment and challenge all valuation reports prepared by Valuers employed or contracted.
- THE CLIENT will be presented with a draft copy of the valuation report, once sanctioned by the Review Committee, for comment which, if required, must be submitted to THE VALUATOR GROUP within seven (7) working days from the date they received the draft report. The Valuers and Review Committee will assess and analyse comments from THE CLIENT prior to presenting their final valuation report and certificate.
- Any unusual or relevant information important to THE VALUATOR GROUP must be provided by THE CLIENT with the assurance from THE VALUATOR GROUP that all information will be kept confidential at all times.
USE OF CONSULTANTS & EXCLUSIONS
- Due to the wide range of valuation services offered by THE VALUATOR GROUP, independent consultants may be contracted to assist and provide information to be used in the valuation report.
- In certain cases THE VALUATOR GROUP will appoint specialist experts whose reports will form part of the overall valuation report of THE VALUATOR GROUP.
LIMITATIONS ON LIABILITY
- THE VALUATOR GROUP shall not be liable for:
- loss of profits; or
- loss of business; or
- depletion of goodwill and/or similar losses; or
- loss of anticipated savings; or
- loss of goods; or
- loss of contracts; or
- any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.
- While THE VALUATOR GROUP has Professional Indemnity cover, THE VALUATOR GROUP’s total liability in contract, delict (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise arising in connection with the performance or contemplated performance of any valuation shall be limited to the fee confirmed in all quotations for the valuation services which are the subject of the claim by THE CLIENT and THE CLIENT shall be responsible for insuring against any potential loss which exceeds such fee.
- As confirmed in all quotations submitted by THE VALUATOR GROUP, THE CLIENT is advised to consult the web site to read and understand the standard TERMS AND CONDITIONS.
MANAGEMENT OF THE VALUATOR GROUP
Persons designated as management on the letterheads, invoices and other documents issued by THE VALUATOR GROUP are not authorised to bind THE VALUATOR GROUP in any manner whatsoever, other than pursuant to a formal resolution of the Board of Directors of THE VALUATOR GROUP.
- These standard TERMS & CONDITIONS of services, read with and subject to the quotation, set out the entire agreement and understanding between THE VALUATOR GROUP and THE CLIENT in connection with the subject matter hereof and supersede all prior agreements, if any, between them.
- Neither THE VALUATOR GROUP nor THE CLIENT shall be bound by any express or implied term, representation, warranty, promise or the like, not recorded herein.
- No addition to, variation or consensual cancellation of these standard TERMS & CONDITIONS of services shall be of any force or effect unless in writing and signed by or on behalf of both THE VALUATOR GROUP and THE CLIENT.
- No indulgence which either THE VALUATOR GROUP or THE CLIENT may grant to the other shall constitute a waiver of any of the rights of the grantor which shall not thereby be precluded from exercising any rights against the grantee which might have arisen in the past or which might arise in the future.
- Both THE VALUATOR GROUP and THE CLIENT acknowledges that, in entering into this Agreement, it is not relying upon any warranties, representations or undertakings howsoever or to whomsoever made, save and except in so far as same are embodied in this Agreement.
- If THE CLIENT requires any additional information about the organisation, their staff or standard TERMS & CONDITIONS of service, please contact 0861 659 659 for assistance. The governing law of this agreement is the law of South Africa.
- Any dispute between the parties shall be submitted to arbitration on the following basis:
- The arbitration shall take place in Cape Town, South Africa.
- The parties shall use their best endeavours to ensure that the arbitration is held and concluded and a decision handed down within 30 (thirty) days after the arbitration has been demanded.
- The arbitrator shall be a person nominated by the parties or failing agreement between them within 30 (thirty) days after the arbitration has been demanded shall be a person appointed by the president for the time being of the Law Society of the Cape of Good Hope.
- The arbitrator shall have the fullest and freest discretion with regard to the proceedings but shall make his decision according to the governing law.
- The arbitrator’s decision shall be final and binding. The arbitrator may make an award as to his costs.
- The provisions of the Arbitration Act, 1965 shall apply to this arbitration.