Union Bank of India ask for an Indenmnity Bond to sing to appear on the panel. What do you all say ?
1) Shall Valuer submit Indenmnity to banks or they should ask an Indenmnity from Bank and Client ?
2) I always ask an Indenmnity from my client
3) recently even one branch manager in UBI ask me to submit Indenmnity along with report.
Becasue of ignorance of certain people others have to suffer.
What is worng in publishing a book which give guidlines how to practice as a valuer by IOV which will help every one i.e. valuer, bankers,client and third parties.
If we come up with common things instead of doing seminars and publishing it which many of already know. There is nothing wrong in learning more technical aspects related to valuation,
However it is very much more important to first learn how to practice as valuer to protect our own interest as well other valuers interest, profession interest and clients interest.
If Vehicle Driver get licence before knowing how to drive he will not harm himself but to others as well by making accident.
Hope you all will ask to professional body to come up with minimum non negotiable professional ethics and publish book on the same which every valuer must keep with him every day and give exam to IOV regualarly to renew it's membership.