• 1- The words and phrases contained in these rules shall have the meanings specified next to each of them in Article One of the Accredited Valuers System issued by Royal Decree No. (M/43) dated 9/7/1433 H and its amendments, as well as the meanings specified next to each of them in Article One of the Implementing Regulation of the system.

• 2-. The following words and phrases, wherever they appear in these rules, shall have the meanings indicated next to each of them unless the context requires otherwise:

  • Rules: The general rules for the Fellowship Certificate of the Saudi Authority for Accredited Valuers.

  • Policy: The policy of the rules.

  • Competent Administration: The administration designated by a decision issued by the Chief Executive Officer.

  • Levels: The required levels to obtain the Fellowship Certificate for each branch of valuation, which may include - as applicable - training courses, tests, and discussions.

  • Applicant: The natural person applying for the Fellowship Certificate of the Authority.

The rules aim to ensure the applicant's theoretical knowledge of the appraisal profession, their ability to apply it competently, and to confirm their awareness of the regulatory, professional, and behavioral responsibilities in accordance with the provisions and rules governing the appraisal profession.

• It is required for the granting of the fellowship certificate that the applicant meets the following conditions:

  • 1- Must hold a university degree in one of the approved specializations according to each branch of evaluation as determined by the Implementing Regulation.

  • 2- Passing all levels of the fellowship certificate according to each branch of evaluation.

  • 3- Achieving the required hours of experience to obtain the fellowship certificate, provided that the hours of professional practice acquired from evaluation work represent at least (%50) fifty percent of them, and the required hours of experience according to each branch of evaluation consist of the following:

    • A- Real Estate Evaluation Branch: obtaining no less than (3000) three thousand hours of experience recorded in their account on the electronic portal.

    • B- Economic Enterprises Evaluation Branch: obtaining no less than (2000) two thousand hours of experience recorded in their account on the electronic portal.

    • C- Evaluation of Machinery, Equipment, and Movable Property Branch: obtaining no less than (2000) two thousand hours of experience recorded in their account on the electronic portal.

    • D- Vehicle Damage Evaluation Branch: obtaining no less than (3500) three thousand five hundred hours of experience recorded in their account on the electronic portal.

    • E- Evaluation of Precious Metals and Gemstones Branch: obtaining no less than (2500) two thousand five hundred hours of experience recorded in their account on the electronic portal.

      
       

The policy specifies the levels, with a minimum of three levels in each branch, and their contents, for each branch of the evaluation.

The fellowship certificate is granted -by a decision from the President- after the applicant meets the requirements for obtaining it, and the policy specifies the procedures for that.

1- The maximum duration to obtain the Attesting certificate is (five) years from the date of the first registration in the levels, during which the applicant is obligated to complete the levels. Exceeding this period - without obtaining the certificate - will result in the need to retake all levels, regardless of the applicant's current level.

2- An exception to the provision of paragraph (1) of this article may be granted if the applicant has a valid excuse accepted by the authority, provided that in all cases - the original duration and the duration of the exception - do not exceed (six years).

3- Any periods of delay attributed to the authority or other circumstances beyond the applicant's control shall not be counted within the durations mentioned in paragraph (1) of this article.

It is required for the applicant to have a valid membership at the time of registration for levels from the second level and above.

The competent authority shall establish the levels or some of them through electronic means, and the policy shall specify the related controls.

The results of each test and discussion are conducted independently, and each test and discussion is worth (100) one hundred points. The policy determines the minimum passing percentage for each test and discussion in each branch of evaluation, which shall not be less than (70%) seventy percent for each test and discussion in all cases.

1-  The President or his delegate shall be responsible for forming discussion committees and determining the rewards for their members.

2- The policy shall define the rules and procedures for the work of the discussion committees, as well as the mechanism for appealing their decisions.