NAAA Member Ethics

NAAA Member Ethics

NAAA Member Ethics Statement (10/01/2017)

Rule #1. All NAAA members will perform ethically when accepting an assignment from a potential client. An appraiser may not accept any job that he or she is not qualified to complete.   It is acceptable for the appraiser to contact another appraiser who is qualified to do that particular job and assign it to that person.   However, the appraiser who is qualified to complete the job will have control over every aspect of it, though the unqualified appraiser may take part in it and assist the qualified appraiser through mutual agreement.

Rule #2. An NAAA appraiser will not accept any job that requires that a predetermined opinion or conclusion will be reported.   Under no circumstance will an NAAA member accept a job where the appraiser’s fee is contingent upon the outcome of the appraisal report.  Under no circumstances will an NAAA appraiser accept payment for a job based on a percentage of the aircraft’s value.

Rule #3. An NAAA appraiser will not accept any job that will result in a conflict of interest, real or perceived, with regard to that appraiser.   A conflict of interest exists any time an appraiser has any type of interest in the airplane being appraised.  Personal interest may include, but is not limited to, an aircraft that the appraiser owns or partially owns, or that he or she may receive or is receiving compensation in any form from its rental, sale, or use.

Rule #4. NAAA members will not offer an NAAA Certified Appraisal on aircraft that are not included in the NAAA database.  They may, however, offer an appraisal that is based upon their own research regarding the aircraft year, make, and model.  I understand that I am totally and completely responsible for any and all appraisal work I produce.  I also acknowledge that NAAA members do not conduct what are called “desktop” or “market” appraisals, nor do they advertise them.  These are not appraisals and require that an appraiser put a value on an aircraft without seeing the aircraft or its logbooks and records.  I pledge that I will not provide these types of reports where someone else provides the source material and I do not see the aircraft or its records.

Rule #5. NAAA members when performing appraisals are not advocates for their clients’ causes.   They must act as an independent, objective, unbiased party at all times. An NAAA member may be an advocate only to the extent that he or she supports his or her appraisal reports. 

Rule #6.  When acting as a Buyer’s Agent and an NAAA Appraisal is a component of the service, an NAAA member’s fee for acquisition services may not be based on a percentage of the purchase price.

Rule #7. NAAA members may not engage in criminal conduct inside or outside of their appraisal practice. Criminal conduct of any type may call into question the reliability and credibility of any appraisal that person is responsible for and can lead to expulsion from the association.

Rule #8.  All appraisals written on turbine powered aircraft or turbine powered helicopters will be completed under the Uniform Standards of Professional Appraisal Practice (USPAP).  Prior to January 1, 2014 NAAA members must have completed the NAAA Senior Certified Aircraft Appraiser course and must have been issued a Certificate of Appointment as an NAAA Senior Certified Aircraft Appraiser with and have completed and passed the NAAA Senior Certified Aircraft Appraiser Course (NSCA).  After January 1, 2014 Members must have taken and passed the NAAA Senior Certified Aircraft Appraiser Course (NSCA).  All Members who are qualified to write USPAP Appraisals will adhere to the USPAP standards and operational requirements as published in the Uniform Standards of Professional Appraisal Practice document in effect at the time the appraisal is completed as well as the NAAA currency standards.

Rule #9. NAAA members must maintain the confidential nature of the appraiser-client relationship. Under no circumstance will an NAAA member disclose the results of any appraisal report, or any information gathered in the conduct of that appraisal, to anyone without the express written permission of his client. There are two exceptions. The first is the transmittal of the appraisal work to NAAA headquarters whose members and employees work under the same confidentiality constraints.  Appraisals transmitted to NAAA headquarters will be used for internal purposes only. The second is when the appraiser is compelled by state or local enforcement agencies to disclose the subject appraisal under due process of law.

Rule #10.  An NAAA appraiser will utilize the most current, accurate, and relevant market data in the preparation of the appraisal report with respect to the subject aircraft and the purpose of the appraisal, as identified by the client and the appraiser, and the scope of work as identified by the appraiser.  

Rule #11.  Appraisals performed on behalf of another member (“referral appraisals”), will be completed with the same standard of quality as appraisals normally submitted by the member to whom the appraisal was referred.

Rule #12.  NAAA Appraisers must disclose in the appraisal report any employer/employee relationship that extends beyond the client/appraiser association.

A. I understand that as an NAAA Member I am eligible to take part in the NAAA’s training programs on the dates and times they are scheduled and for the prices they are offered at. 

B. I understand that I will not be listed in the NAAA’s Appraiser Finder nor may I hold myself out to the public as a CERTIFIED aircraft appraiser until I am appointed a Certified Aircraft Appraiser upon completion of the NAAA Basic Appraisal Course.  I understand that my access to the NAAA software and database will be activated approximately 60 days prior to the Basic Appraisal Course that I enroll in. If I do not attend the course it will be restricted once again until I attend the next course.  I understand that as a Certified Aircraft Appraiser I may only appraise piston engine aircraft.

C. The requirements to become a Senior Certified Aircraft Appraiser are the completion of the Hands-on Training Course, one year as a member of NAAA, and 10 aircraft appraisals turned into NAAA headquarters.   Each appraisal must meet the minimum requirements established by NAAA and specified during the Hands-on Training Course. 

D. The requirement to take the NAAA Buyer’s Agent Course is completion of the Basic Appraisal Course.

E. Use of the NAAA database is strictly for my professional use in conjunction with my duties as a Certified Aircraft Appraiser or Senior Certified Aircraft Appraiser when I attain that level.  All materials, programs, data, and information that are supplied to me by NAAA are proprietary and I will not share such materials, programs, data, and information supplied by NAAA with anyone except for the normal use of written appraisal reports provided to my clients.  I will not share my Username or Password for the NAAA Members Only web site with any other person for any reason nor will I allow anyone else to access the NAAA Members Only web site using my login information.  Violation of this paragraph of the Ethics rules will result in the immediate termination of my Membership in NAAA.

F. I understand that I am a member of the NAAA and not an agent, and I will identify myself as a member in any advertising I do where I use the NAAA logo.  I will make it clear in all advertising that I am a member and not acting as the NAAA.

G.  I understand that I, not the NAAA, am totally and completely responsible for the appraisal work that I produce whether I am being paid for that work by a client or not and whether the NAAA database is used or not.  I understand that the NAAA database is only one tool that I will use in appraising aircraft and that it is solely my responsibility to insure the accuracy and correctness of the reports I provide to my clients.

H. I understand that I am responsible for notifying NAAA with regards to any changes in my membership status, such as changes of credit card information and other items that effect the NAAA’s ability to service my membership.  To cancel my membership I must notify NAAA in writing 30 days before the cancelation will become effective.  I understand that should my credit card fail to process for two consecutive charges that my membership will be cancelled.

I understand that in the future I may be asked to sign or agree to updated Ethics Rules that may not contain Paragraphs A through H of this agreement.  Paragraphs A through H of this agreement will remain in effect for as long as I am a member of NAAA.

I have read and understood the NAAA Ethics Statement and promise to adhere to it during my conduct of business as a member of the National Aircraft Appraisers Association.


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