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:
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
|DURATION OF ACTIVITY
|PERSON IN CHARGE
|Secures checklist of requirements from the OGA.
|Provides client a checklist of requirements with instructions.
|Officer of the Day of OGA
|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)
|Officer of the Day of OGA
|2. Prepares Payment Assessment Form (PAF) and instructs applicant to proceed to the Cashier
Presents the PAF at the Cashier and settles the required fee.
|Process payment and issue O.R.
|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.
|Pre-evaluation of application:
|Processing of application:
|Mailing period (estimate):
|31 days and 1 hour
* Note :Duration of activity under normal circumstances