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Asset Valuers/Appraisal Company

Schedule of Availability of Service:
Mondays to Fridays, 8:00am-5:00pm without noon break

Who May Avail of the Service:
Appraisal companies
Professional Services Organization

What Are the Requirements:
1. Notarized application for accreditation

2. Board or partners’ resolution approving the filing of the application and the designation of authorized signatory on behalf of the company/firm

3. Profile showing the history, scope of services, list of employees and their corresponding profession, and the bio-data of executive/certifying officers or partners, and certifying property appraisers or valuation specialist

4. Document showing compliance with the prescribed qualifications for the applicant appraisers or valuation specialists, i.e., professional license, CPE certificates, working experience record

5. Certificate of good standing issued by PRC recognized to APO

6. List of clients showing current and previous clients

7. Certifications from at least two (2) banks or two (2) public companies or secondary licensees or two (2) large corporations that they have engaged the services of the appraisal company/PSO

8. Notarized certification of the applicant signed by its President or Managing Partner that it meets all the qualification requirements under par. II(3) of the Guidelines on Asset Valuations; that it has not been declared liable by the Commission or by any competent court for violation of the Corporation Code or the Securities Regulation Code or any relevant laws and regulation, and that the applicant and/or any of its directors/executive officers or partners, or property appraisers or valuers have no adverse judgment against them on any administrative, civil or criminal case involving its appraisal business. The adverse judgment must be final and executory

9. List of any pending administrative, civil or criminal case filed against the company or any of its officers and employees

10. Copy of the audited financial statements for the recent three years including the period due for the filing

11. Copy of professional liability insurance policy and sworn undertaking to provide professional liability insurance as required by its clients

12. Copy of two (2) Appraisal or Valuation Report issued

13. Copy of the company’s framework of internal control procedures
Pre-Evaluation Procedures

1 Secures checklist of requirements from the OGA. Provides client a checklist of requirements with instructions. 5 minutes Officer of the Day of OGA
2 Presents application (Application letter duly signed by authorized officer) and supporting documents 1. Pre-evaluates application and supporting documents.
a. If application and supporting documents are not complete, the same are returned to applicant with list of requirements not complied with
b. If application and supporting documents are complete, the “Officer of the Day” clears application for payment of the prescribed fees (proceeds to No. 2)
30 minutes Officer of the Day of OGA
2. Prepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier 10 minutes Executive Assistant

Presents the PAF at the Cashier and settles the required fee.

Filing Fee:P10,000

Process payment and issue O.R. 10 minutes Cashier
4 Submits the machine-validated PAF to OGA with the application and its supporting documents

1. Checks contents and stamps receive the three (3) sets of application documents

2. Returns one (1) copy of the application documents to the client.

5 minutes Executive Assistant
Pre-evaluation of application: 1 hour
Processing of application: 1 day
Mailing period (estimate): 30 days
Total duration: 31 days and 1 hour

* Note :Duration of activity under normal circumstances