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.
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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."
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
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
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
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