In line with pillar 1 Future Focused of the Strategic Plan, we continue to evolve our regulatory framework to protect confidence in an increasingly complex, yet exciting new future focused landscape. In late 2023, the Board approved the updates to the API Rules of Professional Conduct (Rules), effective 31 March 2024, which introduced: a new API CPV (Residential) certification as a recognised valuer certification; and rules for valuers to undertake desktops.

Effective 1 September 2024, the APIV Scheme Categories 1, 2 and 3 will be expanded to cover these upgrades so that the limitation of liability extends to cover Scheme members undertaking desktops as well as the new CPV (Residential) certification.

Please contact Daniel Mowbray, APIV Compliance Manager or [email protected], if you are an API CPV, RPV and CPV (Plant & Machinery) valuer or are a Corporate who employs API Member Valuers to undertake desktops and are not currently a member of the APIV Scheme. The APIV team will be able to assist with your registration.  For more information about the Scheme.

We are currently confirming with the Valuer PI insurers that the indemnity policy wording for API member valuers undertaking desktops is extended to the Rules rather than just the API Residential Desktop Supporting Memorandum.

The new CPV (Residential) admission pathway is currently being trialled and tested with a small cohort of RPV valuers (Phase 1).  We are looking to open this new CPV certification to everyone before the end of the year.  We look forward to providing you with more information shortly.

If you have any questions, please contact us at [email protected].