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Appraisal RFP Template for Singapore

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Key Requirements PROMPT example:

Appraisal RFP

"I need an Appraisal RFP to solicit proposals for valuing a portfolio of 5 commercial properties in Singapore's Central Business District, with specific requirements for experience in Grade A office buildings and a completion deadline of March 2025."

Document background
The Appraisal RFP is a critical document used when organizations need professional valuation services for properties or assets in Singapore. It serves as a standardized method for soliciting and evaluating proposals from qualified appraisers, ensuring compliance with Singapore's regulatory framework, including the Appraisers Act and SISV standards. The document typically includes detailed specifications of the assets to be valued, required qualifications, timeline expectations, and evaluation criteria. This formal procurement process helps organizations make informed decisions while maintaining transparency and fairness in the selection of appraisal services.
Suggested Sections

1. Introduction: Overview of the RFP purpose and objectives

2. Scope of Services: Detailed description of appraisal services required

3. Submission Requirements: Format, content, and deadline for proposals

4. Evaluation Criteria: Criteria and weightage for proposal assessment

5. Timeline: Key dates and milestones for the RFP process

Optional Sections

1. Pre-qualification Requirements: Additional qualifications or certifications required for complex or high-value appraisals

2. Site Visit Details: Information about property inspection arrangements when physical property assessment is required

3. Conflict of Interest Declaration: Requirements for declaring potential conflicts, typically used for government or sensitive projects

Suggested Schedules

1. Property Details Schedule: Detailed information about properties to be appraised

2. Price Schedule Template: Standardized format for price submissions

3. Professional Credentials Requirements: Required certifications and qualifications

4. Standard Terms and Conditions: Legal terms governing the engagement

5. Previous Valuation Reports: Historical valuation data if relevant

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Industries

Appraisers Act (Chapter 16): Primary legislation governing the registration and regulation of appraisers in Singapore, setting standards for professional practice and conduct

Valuers Act (Chapter 334): Key legislation regulating real estate valuers and their professional activities in Singapore

Companies Act (Chapter 50): Fundamental law governing corporate entities in Singapore, relevant for business structure and compliance requirements

Contract Law (Chapter 43): Basic legislation governing formation and enforcement of contracts in Singapore

Competition Act (Chapter 50B): Legislation promoting fair competition and preventing anti-competitive practices in tender processes

SISV Valuation Standards: Professional standards set by Singapore Institute of Surveyors and Valuers for valuation practices

International Valuation Standards: Global standards for valuation practice that complement local requirements

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data in Singapore

Government Procurement Act: Legislation governing procurement procedures for government entities in Singapore

Land Titles Act: Legislation relating to the registration and transfer of land titles in Singapore

Prevention of Corruption Act: Anti-corruption legislation ensuring transparency and fairness in business dealings

Employment Act: Primary legislation governing employment relationships and working conditions in Singapore

Fair Consideration Framework: Guidelines ensuring fair employment practices and opportunities for Singaporeans

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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