Friday 27th of November 2020

APPRAISAL CERTIFICATIONS, THE WHAT AND WHY

By now most Condition and Valuation Survey reports include some sort of a certification. However, if a report is intended or claims to be compliant with the Uniform Standards of Professional Appraisal Practice (USPAP), there is specific certification language required. … Continue reading

WHY THE MARINE INSURANCE, FINANCIAL AND LEGAL PROFESSIONS SHOULD MOVE TOWARDS REQUIRING USPAP COMPLIANT MARINE SURVEYS (APPRAISAL REPORTS)

After graduating from California Maritime Academy, I sailed on various ships and tugs for several years and then worked as a Marine Operations Manager for a small tug and barge company. In 1991 I decided to make a career change … Continue reading

THE THREE APPRAISAL APPROACHES AS THEY APPLY TO MARINE SURVEYORS APPRAISING MARINE ASSETS

Whether or not marine surveyors appraising marine assets (yachts, pleasure craft, commercial vessels) are aware, there are standards that apply to the practice of appraisals. The standards are the Uniform Standards of Professional Appraisal Practice (USPAP), which are published every … Continue reading

UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE (USPAP)

The acronym USPAP stands for the “Uniform Standards of Professional Appraisal Practice”. The USPAP standard manual is published every two years by the Appraisal Standards Board of the Appraisal Foundation, an industry group authorized by Congress to write appraisal standards. … Continue reading

MARINE SURVEYORS AS APPRAISERS

Both Marine Surveyors, and Appraisers specializing in marine assets, are unlicensed by state and federal governments in the United States.  In other words, there is no requirement by regulation or statute that practitioners of either profession obtain licensure prior to … Continue reading

LOAD LINE REQUIREMENTS FOR SEAGOING VESSELS

A Load line is a document generally issued by a classification society allowing vessels to carry cargo at sea and/or to make foreign voyages. Vessels with load lines will have the characteristic “Plimsoll Mark” attached amidships on each side of … Continue reading

Carbon Monoxide Poisoning

When I started my career as a marine surveyor, back in the early 1990’s, the firm that I worked for received several fatality investigations on rental houseboats. These were typically large fleets of houseboats built specifically for the rental industry. … Continue reading