TERMS & CONDITIONS OF APPOINTMENT – Schedule 1
THIS Confirmation of Instructions to provide services is made BETWEEN:
1. CJA Lee Property Pty Ltd T/as Lee Property Valuers & Advisors (‘LPVA’); and
2. (‘The Client’)
BACKGROUND:
A. LPVA is an independent property advisory firm that specialises in valuations and specialist property advisory services for the property industry.
B. THE CLIENT seeks valuation advice from LPVA in relation to the property(ies) noted herein for the use and reliance of the CLIENT for the stated purpose only.
C. The purpose of this agreement is to outline the basis for which LPVA is willing to provide valuation and advisory services to THE CLIENT.
IT IS HEREBY AGREED:
The parties agree that LPVA will provide valuation and advisory services as requested by THE CLIENT (“Services”) on the following basis:
1. LPVA will need to inspect property in order to provide the Services. On request, THE CLIENT will do whatever is necessary to enable LPVA to inspect any property, and will honestly provide LPVA with all the information LPVA requires in order to express an opinion.
2. Any valuation is for the purposes of THE CLIENT and not for any third party without written authority.
3. THE CLIENT will not use any advice provided by LPVA for any purpose other than that stated by LPVA.
4. Should LPVA decide they need to obtain independent legal advice about the interpretation of matters relating to the Services, they will choose a lawyer, in their sole discretion. These costs are payable by THE CLIENT, in addition to the fees stated herein, however LPVA will discuss the necessity for independent legal advice with THE CLIENT before engaging such legal advice, and advise THE CLIENT on the estimated costs of such services prior to proceeding.
Limitation of Liability, Releases and Indemnity
5. THE CLIENT will not pursue any claim against LPVA and its directors and employees and releases LPVA from any and all legal actions or claims, arising from work that in any way relates to the Services. This release applies even if THE CLIENT considers that LPVA have performed this work negligently, in breach of the Australian Consumer Law (or any other statute), or in breach of the common law.
6. THE CLIENT indemnifies LPVA in relation to any action brought against LPVA, by any party, that in any way concerns the Services. This indemnity applies even if THE CLIENT considers that LPVA have performed this work negligently, in breach of the Australian Consumer Law (or any other statute), or in breach of the common law. The scope of this indemnity is to be given the broadest possible application and includes:
Any loss or damage the parties or anyone else may claim to have suffered by reason of provision of the Services.
6.2. All costs and expenses including legal costs which are incurred by LPVA associated with any possible claim indicated against LPVA that in any way relates to the Services.
6.3. All costs and expenses including legal costs, incurred by LPVA associated with any proceeding LPVA may be obliged to defend that in any way relates to the Services. Any such costs are to be paid by THE CLIENT, on a monthly basis in arrears.
7. If, for any reason, the releases and indemnity outlined above are not effective and a claim is made which in any way relates to the provision of the Services, the liability for that claim, will be limited, in the sole discretion of LPVA, to either the fee for the Services or the cost of providing the Services again.
8. The releases above do not apply to any conduct by us which is fraudulent or wilfully dishonest.
9. Notwithstanding the above, LPVA’s reserves the right to have any liability reduced proportionately to the extent that a breach of this agreement by, or the negligence of THE CLIENT (including its employees, agents or contractors) or the act of any concurrent wrongdoing contributed to LPVA’s liability and the loss is suffered by THE CLIENT.
Acknowledgments
10. THE CLIENT acknowledges in relation to the Services that:
10.1 Valuation reports are an expression of opinion only and are current as at the date of the report. THE CLIENT accepts the risks associated with market movement after the date of the valuation, including without limitation, any rise or fall in market value of the subject property.
10.2. In preparation of the valuation report, LPVA will have regard to (amongst other things) the apparent state of repair of the property, existing leases/occupancy status and any relevant material provided by THE CLIENT.
10.3. All land areas, building areas and lettable areas referred to in the valuation report are approximate and even professional surveyors acting reasonably, can differ in relation to measurement of areas. Should THE CLIENT subsequently ascertain that areas referred to in the valuation report differ from other information provided to THE CLIENT, THE CLIENT agrees to refer the valuation back to LPVA for comments and, where appropriate, amendment.
LPVA will:
11.1. provide an estimated time-line as soon as possible on receipt of instructions;
11.2. use their best endeavours to complete the Services in accordance with the estimated time-line;
11.3. promptly advise THE CLIENT of any unexpected delay in completion of Services;
11.4. perform the Services with reasonable care and skill and in a professional, punctual and diligent manner; and
11.5. perform the Services having regard to relevant standards and guidelines outlined in the API Professional Practice Manual.
Miscellaneous
12. If there is any inconsistency between the instructions given by THE CLIENT, and these terms, these terms will prevail.
13. LPVA reserves the right terminate this agreement at any time by notifying THE CLIENT in writing and return the instruction and all supporting material provided by THE CLIENT. If LPVA terminates this agreement and returns said instructions, then any fees paid by THE CLIENT will be returned in full. THE CLIENT fully indemnifies and holds harmless LPVA for any loss which may be suffered as a direct result of the termination of the agreement by LPVA.
14. No variation of these terms will be of any effect unless it is in writing and signed by all parties to this agreement.
15. The invalidity or unenforceability of any provision of these terms, shall not affect the validity or enforceability of any other provision of the terms, which shall remain in full force and effect.
16. The person signing the Agreement below is duly and legally authorised to execute on behalf of THE CLIENT.
