The following words and phrases are intended to have the meanings specified next to each of them, unless the context requires otherwise:
A- Law: The Law of Accredited Valuers.
B- Regulation: The Implementing Regulation of the Law.
C- Rules: The Code of Conduct and Ethics of the Valuation Profession.
D- Authority: The Saudi Authority for Accredited Valuers.
E- Competent Administration: The Supervision Department of the Authority.
F- Profession: The Valuation Profession.
G- Regulations and Rules Governing the Valuation Profession: Includes the provisions of the Law, the Regulation, the Rules, the Standards, the Evidence, and the Decisions and Instructions issued by the Authority related to the profession.
H- Accredited Valuer: A Natural Personality or Legal Entity licensed to practice the profession in accordance with the Law.
I- Valuation Entity: The individual establishment or professional company that meets the regulatory requirements related to practicing the Valuation Profession.
J- Valuation Report: The document issued by the accredited valuer to their clients, including the result of the valuation, fulfilling the obligations of the accredited valuer as specified in the Law, Regulation, and Evidence, and compliant with the approved valuation standards.
K- Client: A Natural Personality or Legal Entity that commissions the valuer to perform the valuation task.

The rules aim to achieve the following:
1- Develop the profession of appraisal and elevate it, and raise the level of the employees in it.
2- Regulate the responsibility of the certified appraiser in practicing his profession, and clarify his responsibilities towards those participating with him in preparing the appraisal report, towards his clients, colleagues, employees, official entities, and the community.
3- Enhance the legal protection for the certified appraiser, his clients, and other related parties.
4- Promote the principles of transparency and accountability in the professional practices of the certified appraiser.
5- Improve the efficiency of the appraisal system by increasing the level of professional competence within it.

The certified appraiser maintains the honor and status of the profession and does not act in a manner that undermines the trust of the public in him or in the profession.

The certified appraiser - while practicing the profession - shall appear in appropriate attire, respect the general professional appearance, and not violate customary norms.

The certified appraiser shall embody honor, integrity, and honesty in their conduct on a personal level, even outside the scope of their professional practice.

The certified appraiser is committed to continuous development and professional education, and keeps up with the latest regulations and rules governing the appraisal profession, enabling him to practice it with the highest levels of professionalism, avoiding errors and shortcomings.

The licensed appraiser is not permitted to practice the profession if a final decision has been issued against him for suspension.

The accredited appraiser is obliged to include in the final evaluation report issued by him - at a minimum - the requirements stated in the approved report template in this regard.

1- The accredited appraiser must prepare a comprehensive work file for each final evaluation report issued by him, including written reports, correspondence, memoranda, documents, information, data, inspections, sources, methods used, analysis, calculations, and a statement of all procedures that have been taken to support and confirm the validity of the evaluation result.
2- The file referred to in paragraph (1) of this article must be prepared for examination and review, clearly outlining the stages the accredited appraiser went through to reach the evaluation result, and detailing all information, data, and procedures that were undertaken to prepare the evaluation report, in accordance with the provisions and rules governing the profession of appraisal.
3- The accredited appraiser must retain the work file referred to in paragraph (1) of this article for a period of ten years from the date of issuance of his final report.