The information provided on this website regarding the Australian Property Institute Valuers Limited (‘APIV’) Professional Standards Scheme (‘Scheme’, also known as Limitation of Liability Scheme) is only a high level summary of the operation of the APIV Scheme and is intended to be a general guide only.
The information is not intended to constitute legal/insurance/financial or professional advice and has been prepared without taking into account your personal objectives, financial situation or needs.
You should carefully consider the appropriateness of this information to your circumstances and seek independent advice from brokers/financial/legal advisers before making any decisions.
The APIV may review a Member or prospective Member’s compliance with the Scheme at the time of processing a new application or annual membership renewal or may audit such compliance at any time. Any such review or audit is carried out by the APIV as a purely administrative function in its capacity as the administrator of the Scheme. It is not the APIV’s role to advise the Member as to its compliance obligations and the APIV makes no representation or warranty to Members as to whether or not they are compliant at any particular point of time. Ultimately, whether a Member has met all relevant compliance obligations under the Scheme, is a matter which will be determined by a Court in the context of the particular claim in respect of which the member seeks to rely upon the Monetary Ceiling.
It is the member’s responsibility to determine the applicable compliance obligations and to ensure that they are compliant with these obligations.
API / APIV do not accept any responsibility for the consequences of any action taken or omitted to be taken by a person, whether a Member of the APIV Scheme or not, as a consequence of anything contained in or omitted from this clip.