Terms & Conditions

Definitions

In these Terms and Conditions:

• “We”, “us” or “our” means W.E Valuation Services Pty Ltd and its directors, employees and contractors
• “Client”, “you” or “your” means the person or entity that instructs us to provide services
• “Report” means any valuation report, appraisal, assessment, market appraisal or other written advice we prepare
• “Services” means all valuation, appraisal, advisory, auction and related services we provide
• “Assets” means the plant, equipment, machinery or other items subject to our assessment

Engagement and Scope

Our engagement commences on your written or verbal instruction and our written acceptance. The scope, basis of value, purpose, assumptions and limiting conditions applicable to each engagement are set out in our written instructions confirmation or within the Report itself.

Any change to the scope of services must be agreed in writing. We reserve the right to revise our fee if the scope changes materially after instruction.

Our services are performed for the purpose and client stated in the Report. Reports prepared for one purpose (e.g. insurance) may not be suitable for another purpose (e.g. lending security) without our written consent.

Valuation Reports

Our Reports are prepared in accordance with the professional and ethical standards of the Auctioneers & Valuers Association of Australia (AVAA) and, where applicable, internationally recognised appraisal standards.

Valuations represent our professional opinion of value at a specific point in time based on information available at the date of inspection and market evidence at the date of the Report. Values change over time and Reports should not be relied upon after a reasonable period without our written confirmation.

Our Reports are based on:

• Information provided to us by you and, where applicable, your agents or employees
• Our physical inspection of assets (unless a desktop assessment is agreed in writing)
• Our professional judgement and market knowledge at the date of the Report
• Publicly available market data and comparable sales evidence

We do not warrant the accuracy of information provided to us by third parties. Any inaccuracy in information supplied may affect our conclusions and we accept no liability for errors arising from information we were not in a position to verify.

Reliance and Third Parties

Reports are prepared for the client and purpose stated therein. Unless otherwise agreed in writing, a Report may not be relied upon by any third party. We accept no responsibility or liability to any person other than the named client who relies on the Report without our written consent.

Where a Report is to be provided to or relied upon by a third party (such as a lender, insurer or legal adviser), this must be agreed with us prior to delivery, and separate terms may apply.

The reproduction, copying or distribution of a Report or any part of it without our prior written consent is prohibited and may constitute an infringement of our intellectual property rights.

Fees and Payment

Our fees are as agreed in writing prior to the commencement of the engagement. Unless otherwise agreed in writing:

• Fees are payable upon delivery of the Report or as otherwise invoiced
• Payment terms are 14 days from the date of invoice
• We reserve the right to withhold delivery of a Report until payment is received in full
• Late payment may attract interest at the applicable statutory rate from the due date until payment is made
• Travel and accommodation costs for sites beyond metropolitan areas may be invoiced separately at cost

If an engagement is cancelled after instruction but before completion, a cancellation fee proportionate to the work already performed may be charged.

Client Obligations

To enable us to perform our services, you agree to:

• Provide us with accurate, complete and timely information about the assets and the purpose of the valuation
• Arrange safe and reasonable access to the assets for inspection at the agreed time
• Notify us promptly of any material change in the assets, their condition, or your instructions
• Not use or distribute the Report in a manner inconsistent with these Terms or the stated purpose

You warrant that all information provided to us is accurate and complete to the best of your knowledge. We are entitled to rely on that information without independent verification unless we expressly state otherwise.

Limitation of Liability

To the extent permitted by law, our total aggregate liability to you for any loss or damage arising from our services (whether in contract, tort, negligence or otherwise) is limited to the lesser of:

• The total fee paid to us for the specific engagement giving rise to the claim
• The amount recoverable under our professional indemnity insurance policy in respect of that claim

We are not liable for any indirect, consequential, special or punitive loss or damage, including loss of profits, loss of opportunity, loss of data or loss of business.

Nothing in these Terms excludes, restricts or modifies any rights you may have under the Australian Consumer Law or other applicable legislation that cannot lawfully be excluded or limited.

Confidentiality

We will treat all information provided to us by you as confidential and will not disclose it to third parties except as required to perform the services, as required by law or professional standards, or with your written consent.

You acknowledge that we may be required by law, professional standards bodies, or court or tribunal order to disclose certain information, and that disclosure in such circumstances does not constitute a breach of these Terms or of confidentiality.

Intellectual Property

All Reports, methodologies, templates and written materials prepared by us are and remain our intellectual property. We grant you a non-exclusive, non-transferable licence to use the Report for the specific purpose for which it was prepared and as stated in the Report.

You must not reproduce, publish, distribute or commercialise any Report or part of it without our prior written consent.

Professional Indemnity

We maintain professional indemnity insurance in accordance with our obligations as a member of the Auctioneers & Valuers Association of Australia. Details of our current insurance coverage are available on request.

Governing Law and Disputes

These Terms and Conditions are governed by the laws of the State of Victoria, Australia. Each party submits to the non-exclusive jurisdiction of the courts of Victoria and the Commonwealth of Australia.

Any dispute arising from these Terms or our services should first be raised with us directly in writing. We are committed to resolving disputes promptly and professionally. If we are unable to resolve a dispute within 30 days of written notice, either party may refer the matter to mediation before commencing legal proceedings.

Contact Us

For any questions about these Terms and Conditions, please contact: