Unofficial transfer (c) Soyuzpravoinform LLC
of December 8, 2023 No. 1052-VIQ
About estimative activities
This Law according to Items 1, 10 and 11 parts I of article 94 of the Constitution of the Azerbaijan Republic determines the organizational, economic and legal basis of implementation of estimative activities in the Azerbaijan Republic.
1.1. For the purposes of this Law the following basic concepts are used:
1.1.1. estimative activities - activities for cost determination of object of assessment by the appraiser in the cases provided by this Law and also for the purposes established by the customer;
1.1.2. the appraiser - the physical person meeting the requirements, the established this Law, the acquired right to perform estimative activities and being the member of Chamber of appraisers;
1.1.3. the estimative organization - the commercial legal entity whose main field of activity are estimative activities, and specializing in the direction (directions) of estimative activities;
1.1.4. assessment object - any material or non-material property which assessment is provided by regulatory legal acts, or provided on assessment by the customer;
1.1.5. the customer - physical person or legal entity, being the final consumer of service in assessment based on the agreement on assessment signed with the appraiser or the estimative organization for the purpose of assessment of the object of assessment which is in its property or use.
1.2. Other concepts used in this Law express the values established by regulatory legal acts of the Azerbaijan Republic.
The legislation of the Azerbaijan Republic on estimative activities consists of the Constitution of the Azerbaijan Republic, international treaties which the Azerbaijan Republic, this Law and other regulatory legal acts joined.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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