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Thank you: Ian Walker.
A professionally detailed valuation is required to qualify the details submitted in all respects. To enable an informed decision to be made by the Interested parties, requesting the valuation.
Valuations may be requested for a number of reasons.
- To re-insure the vessel for the next 12 months, at current market value.
- To arrive at the current market value of the vessel. This may include, for Finance purposes.
- To arrive at the market value for an informed decision to be made as to Sell or not to Sell.
- A Finance company requesting an update as to market value so as to assist them in their Asset Management decisions.
- And no doubt for other reasons, known to the interested parties.
- Valuations required on-behalf of Insurance Companies, are obtained by an Insurance Assessor, also referred to as a Loss Adjuster. The vessel and components may have been stolen. These requests may require the valuation to be classified under two headings.
- A Pre-accident value. (PAV). What was it worth prior to the accident/ loss.
- A salvage value; referring to the value as a wreck, what is the monetary value we estimate a willing purchaser will pay. How this is calculated: A professionally detailed valuation is required to qualify the details submitted is all respects. To enable an informed decision to be made by the Insurer as to
finaloutcome of the claim that originated from a claim for loss suffered by an Insured.
When requesting a valuation, it is important to state to whom it is to be addressed, for what purpose is the valuation required, and to who is the invoice to be addressed.
At the end of the day, there is no point in
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