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Contract, anybody use them

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Accurate Eman

Thread Starter
Freshman Member
Joined
Oct 24, 2008
Professional Status
Certified Residential Appraiser
State
California
If so, care to share?
Thanks,
 

rbrienza

Member
Joined
Sep 16, 2007
Professional Status
Certified General Appraiser
State
Colorado
what do you mean... contrat for what???
 

Accurate Eman

Thread Starter
Freshman Member
Joined
Oct 24, 2008
Professional Status
Certified Residential Appraiser
State
California
To be honest, I'm not 100% sure. I am trying to get my E&O insurance squared away and they keep asking me about my contract (see example below) -
Do your contracts/agreements contain:
Guarantees or warranties?..................................................................................................... q Yes X No
Hold harmless or indemnification agreement?.......................................................................... q Yes X No
Disclaimers?........................................................................................................................ q Yes X No
An arbitration or alternative dispute resolution clause?............................................................. q Yes X No
An estimate of fees to be charged?........................................................................................ q Yes X No
I assume they mean for individual customers, i.e. if a homeowner were to contact me to do an appraisal for them.
 

ghrousseau

Member
Joined
May 5, 2006
Professional Status
Licensed Appraiser
State
Virginia
I think they might be referring to a larger client where you may have a contract for ongoing work or multiple appraisals over an extended period of time. I don't think this currently applies to your situation, but some companies do have contracts. An example would be be awarded a HUD Contract for Review work in an area over a specified period of time for a specified fee per assignment.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
To be honest, I'm not 100% sure. I am trying to get my E&O insurance squared away and they keep asking me about my contract (see example below) -
Do your contracts/agreements contain:
Guarantees or warranties?..................................................................................................... q Yes X No
Hold harmless or indemnification agreement?.......................................................................... q Yes X No
Disclaimers?........................................................................................................................ q Yes X No
An arbitration or alternative dispute resolution clause?............................................................. q Yes X No
An estimate of fees to be charged?........................................................................................ q Yes X No
I assume they mean for individual customers, i.e. if a homeowner were to contact me to do an appraisal for them.
:clapping: woohoo :clapping:

Looks like the E&O providers are finally getting it.

This primarily would apply to any contracts and/or agreements, INCLUDING THOSE YOU CLICK ON "AGREE" ONLINE, with mainly the AMCs.

If you do anything with any AMCs, you had better check to see what contract or agreement you do have with them before you answer these questions. Be prepared to have your E&O exclude those AMCs and the AMCs clients from your policy.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Yep, everything I do now has a contract. Even got a contract with the wife, the horse, the cats, the dog, the cows, the steers.

I don't want to take responsiblity for anything I do now, so I pass it on with the use of a contract.

Sounds like Pam is on the right track, train is starting to pull out.
 
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