Article 8. Mandatory requirements for an evaluation agreement of the Law on Evaluation Activities in the Republic of Kazakhstan

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1. The norms of the Civil Code of the Republic of Kazakhstan (Special Part) on the contract for the provision of paid services are applied to the evaluation agreement.

2. The evaluation contract must contain:

1) details of the parties:

for an individual – last name, first name, patronymic (if it is indicated in the identity document), individual identification number, place of residence (postal address);

for a legal entity, including one with which the appraiser has concluded an employment contract, – name, location (legal address), business identification number, bank details;

2) the name and (or) location of the evaluation object, the type of the evaluation object;

3) description of the evaluation object;

4) the date of determining the value of the valuation object;

5) Purpose of the assessment;

6) type of assessment;

7) the type of value being determined;

8) the timing of the assessment;

9) an indication of the evaluation standard to be applied during the evaluation;

10) terms, procedure and amount of payment for the services provided;

11) rights, duties and responsibilities of the parties;

12) the details of the document confirming the customer's ownership of the evaluation object or other grounds granting the customer the right to conclude an evaluation agreement;

13) details of the certificate of qualification "appraiser" (number and date of issue, indicating the Chamber of appraisers that issued it);

14) the customer's right to pre-trial regulation of the property liability of the appraiser or the legal entity with which the appraiser has concluded an employment contract;

15) information on ensuring the property liability of the appraiser or the legal entity with which the appraiser has concluded an employment contract;

16) other conditions not provided for by this Law.

3. The date of the assessment is the day on which the value of the object of assessment is determined.

3-1. The result of the execution of the evaluation contract is an evaluation report.

4. The amount of payment for the assessment cannot be expressed as a percentage of the estimated value of the object of assessment.

This Law regulates public relations related to the implementation of valuation activities in the Republic of Kazakhstan, and also defines the legal basis for regulating valuation activities.

President

Republic of Kazakhstan

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