Valuers Limited Liability Scheme

The Australian Valuers Institute Co-operative Limited (AVI) Scheme (NSW)
New Scheme - commenced on 26 July 2007

The Australian Valuers Institute Co-operative Limited (AVI) Scheme (NSW) commenced on 26 July 2007. The Scheme was published in the Government Gazette on 29 June 2007.

Click on the following links for a copy of the Scheme document and a summary of how the Scheme works:

The Australian Valuers Institute (AVI) Scheme (NSW) - 2007- 2012 - word doc
The Australian Valuers Institute (AVI) Scheme (NSW) - 2007- 2012 - pdf

Summary of The Australian Valuers Institute (AVI) Scheme (NSW) - 2007- 2012 - word doc
Summary of The Australian Valuers Institute (AVI) Scheme (NSW) - 2007- 2012 - pdf

AVI Directors Policy Statement Scheme Exemption and Discretionary Higher Caps.doc - word doc

AVI Directors Policy Statement CPD.doc - word doc

AVI Complience Program Policy Statement .doc - word doc

Past Scheme

The Institute of Consulting Valuers Scheme (NSW) - 26 July 2001 - 25 July 2006 (Extended to 25 July 2007)

The Institute's risk management strategies include entry requirements; compulsory continuing professional development; advisory and support services including education seminars and workshops; and a quarterly newsletter to communicate industry trends and awareness.

The Institute administers a Complaint and Disciplinary Code set out in the Institute's Rules. Any member whom fails to comply with the Code of Ethics of the Institution is subject to disciplinary action and may have their membership terminated.

The scheme provides that members must have insurance not less than their limited liability. In addition, members must also maintain business assets to the net current market value not less than any deductible amount applicable under the insurance policy.

An Institute member may have limited liability of $5 million. In the case of residential valuations, liability is limited to $500,000.