Technical Information Papers and Guidance Notes
The principal objective of a Technical Information Paper (TIP) or Guidance Note (GN) as well as any associated Resource Pack (if applicable) is to clarify professional and industry processes, appropriate practices and procedures and to discuss their use and implementation.
A TIP or GN is designed to be of assistance to Members and those who use Members’ services. They serve as a guide and measure of acceptable professional practice and conduct of a Member.
The intention of a TIP or GN is to:
- Provide information on the characteristics of different types of assets that are relevant to the advice.
- Provide information on appropriate practices and their application.
- Provide information that assists Members in exercising the judgements they are required to make in specific situations.
- Convey elements of what is considered “competent professional practice” for Australian Property Institute (API) Members.
A TIP or GN is not intended to provide comprehensive training, instruction or prescriptive practices and procedures, or direct that a process, professional approach or method should or should not be used in any specific instruction or situation.
Members are responsible for choosing the most appropriate approach in a matter based upon the task and instruction. It is a matter for each Member to decide the appropriate practice in any situation, and if they are unclear, seek professional advice from others, or contact the API. Members have the responsibility of deciding when it is inappropriate to follow a TIP or GN.
The Institute(s) do not warrant that anything contained in this or any TIP or GN is the definitive or final statement on any issue. Members must perform their own work pursuant to their own professional expertise and experience and if required, seek additional advice which might include legal advice.
In the case of a valuation paper, a TIP or GN recognises the International Valuation Standards (IVS) published by the International Valuation Standards Council (IVSC) and in place at the date of the valuation.
Court of Tribunal Reliance
A court or tribunal may take into account the contents of any relevant TIP or GN or other document relating to a recommended professional practice published by API in deciding whether the member acted to a standard required by law.
Currency of Publication
Case law and relevant legislation may change over time and whilst the Institutes(s) consider that the content of a TIP or GN is current at the date of publication, Members and those who use Members’ services should have regard to legislative changes and new rulings and, if necessary, seek further advice prior to having regard to the TIP or GN.
Departure or Non-Compliance
Where a Member considers that a circumstance exists that warrants the departure from or non-compliance with the content of any TIP or GN, the Member’s report (or other advice) must include a statement that outlines:
(a) the reasons for the departure or non-compliance with a TIP or GN; and
(b) any impact the Members departure or non-compliance may have on the content of the report.
Members are advised to seek legal and/or other advice before departing from practice recommended in a TIP or GN.
Current TIPs and GNs
A list of the current TIPs and GNs including their effective dates is contained below. To access any of the papers the quick links in the table below will open up the Member Portal/Knowledge Base/Standards/TIPs/Guidance Papers where a copy of the paper can be downloaded.
The following papers have been either reviewed and updated or are new papers that have been created and approved for release by the Standards Steering Committee.
The effective date of the individual papers is contained in the table below. An individual paper may permit and encourage earlier adoption, with this noted with an individual paper.
|Document Name||Category||Code||Effective Date
Previous Versions of TIPs and GNs
To access previous papers (TIPs and GNs) published by the API, please contact the API Standards Team on email@example.com.