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Most business owners do not know that an error in judgment in appraising machinery and equipment
can be costly. That's why as a business owner, you should have confidence that the values are
true and are backed by evidence to support the fair market value. Ask these three important
questions to determine whether your machinery and equipment appraisal report will hold up
under scrutiny. You see, all machinery and equipment appraisal reports are not created equal.
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Which professional has the training, knowledge and expertise to provide a Certified Machinery and
Equipment Appraisal Report? |
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A CPA, business broker, attorney and other business professional may have knowledge of machinery
and equipment appraisals; however, they are unable to provide a Certified report unless they
have been awarded a professional designation to do so.
A Certified Machinery and Equipment Appraiser (CMEA) is a professional who has the training, knowledge,
experience and background to render a Certified Machinery and Equipment Appraisal Report. All
CMEA professionals receive extensive continuous training on a monthly basis and are subject to peer
review on a regular basis. Only after a professional passes a comprehensive written examination and
submits an appraisal is that professional awarded the prestigious professional designation of CMEA
by the National Equipment & Machinery Brokers Institute (NEBB). In addition, the professional is
required to re-certify every five years.
More importantly, a CMEA is required to observe the highest standards of professional ethics
and comply with regulations mandated by the Uniform Standards of Professional Appraisal
Practice (USPAP). Only the skills of a CMEA professional make sound financial business
sense to determine an accurate value.
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What are the ethics of a CMEA? |
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A CMEA professional complies with the Ethics Rule of the Uniform Standards of Professional Appraisal
Practice by adopting the 21 standards of the USPAP Ethics Rule. It is imperative that a CMEA
promotes and preserves the public trust inherent in the professional appraisal practice.
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What can you expect from a Certified Machinery and Equipment Appraisal Report? |
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A CMEA's comprehensive and detailed appraisal report provides an accurate and descriptive
report that includes photographs, model numbers, serial numbers and other descriptive
information. Values are based on extensive research, personal inspection, and contact
with manufacturers and suppliers to determine what the machinery and equipment is really
worth. A CMEA's machinery and equipment appraisals are performed to standards set by the
requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). A CMEA
stands behind the Certified Appraisal Report. That's why it withstands the scrutiny by
financial institutions, CPA's and the courts.
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