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Who must join the Scheme?
Section 15 of the API Membership Policy provides that certain types of members must join the Scheme unless exempt. You must join the Scheme, if you are:
- an API member,
- ordinarily residing in Australia,
- undertaking valuations of real property, and
- hold one of the following membership status:
- Life Fellow (Certified Practising Valuer)
- Fellow (Certified Practising Valuer)
- Associate (Certified Practising Valuer)
- Provisional (Residential Property Valuer)
The Scheme operates on a ‘one-in, all in’ basis, hence all employees or sub-contractors who are API members and who fall into these particular categories of membership and are covered under the valuation firm’s professional indemnity insurance policy (policy) need to also join the Scheme as individual members to gain full benefit.
Member firms must ensure that they adhere to this requirement pursuant to the APIV Insurance Standards.
If you wish to join the Scheme, please complete the Application Form and submit it to the APIV in accordance with the instructions contained in the Form.
Further information on membership of the Scheme can be found in the APIV Resources.