Aircraft financing also has been highly impacted along with the S&L collapse of the 80s and the real estate crisis early in the 21st century, however, this situation isn’t something most lenders will discuss openly. But of course, it will create an issue regarding the legitimacy of any individual aircraft appraiser or “professional” appraisal firm. No any legal rule or regulations placed on the aircraft appraisal industry so anyone can easily become popular in an aircraft appraiser without having knowledge, skills, and abilities.
This post will inform you what factors should be necessary to any bank or buyer that relies on aircraft Fleet Appraisals reports- and the appraiser- to deliver the exact information that is based on your purchase decision.
Membership & Certification
Find out the requirements for membership in the association and know-how does the association certifies its membership? In the case of NAAA, every member should have a background in aviation to join the membership. Certification stages under the NAAA are awarded based on training and testing.
Standard & Ethics
Secondly, you need to check out associations that publish standards and ethics, and are these standards industry recognized? The standards and ethics of the authority becomes even more complex when dealing with higher-end worldwide aircraft appraisals as contested evaluation issues can eventually be addressed via the legal system.
Training
What training sessions the appraiser has completed? Generally, the training required to completely appraise aircraft may only be offered through the association at www.aeromaxusa.com itself but there must be a certain kind of training program available to learn membership.