CODE OF ETHICS
Acceptance of membership to the Association of Independent Jewellery Valuers (AIJV) demonstrates a Valuer’s willingness to comply with the Code of Ethics. Appraisers/Valuers of members voluntarily agree to be bound by this Code of Ethics.
The AIJV reserves the right to request satisfactory evidence of compliance with the Code of Ethics
1 Integrity and Ethical Conduct
Members will:
- a) Maintain membership of the organisation(s) on which acceptance as an AIJV member has been based and continue to abide by their Code of Ethics and Principles of Valuation/Appraisal Practice.
- b) Observe the highest standards of honesty, fairness and integrity in all business relations with members of the public, Government bodies and other trade individuals and businesses.
- c) Conduct their business in such a manner as to not bring disrepute to the profession and ensure that they do not act in a manner likely to diminish public confidence in the profession.
- d) Never disclose personal information unless the client authorises disclosure or they are compelled to do so by law.
- e) Decline valuations where it could be suggested they have a conflict of interest that could affect their judgement or values. Alternatively they must disclose the nature and extent of the conflict in full to the client and in a prominent manner in their Valuation Report.
- f) Not buy, sell or broker jewellery, diamonds, gemstone, scrap gold or watches.
- g) Not charge fees for their services using a method that is linked to the value placed on the subject of the report.
- h) Not accept financial commissions or goods-in-kind from Insurance Companies, Insurance Brokers, Retailers or any other agencies, for referrals.
- i) Clearly state their independence from an intermediary when they are not directly dealing with the end client. For example a Trade Valuer may be given an assignment through a retailer.
2. Due Diligence
Members will:
- a) Always aim for the most objective and accurate valuation possible.
- b) Provide clients with sufficient information to understand the contents of the Valuation Report, and as far as possible, any limitations that may apply.
- c) Ensure each report contains a true appraisal of the item described and clearly fulfils the purpose stated for the valuation.
- d) Each item will be thoroughly tested to reach a positive conclusion. Where a positive conclusion cannot be reasonably reached any assumptions will be fully disclosed.
- e) Render services only with respect to those items for which the valuer/appraiser is qualified by training and experience, or for which the valuer/appraiser has secured the assistance and advice of a suitably qualified person.
- f) Store the client’s records for a minimum of five years, either digitally or physically.
- g) Ensure that any value ascribed to an item is at the most appropriate Market Level.
- h) Ensure that all clients’ possessions are stored in a secure manner and protected by high quality insurance.
- i) Take all reasonable steps to protect client’s personal details and ensure that systems and procedures that are used meet or exceed the requirements in the UK Data Protection Act 1998.
- j) Make use of the guidelines concerning gemstone nomenclature as recommended by the international governing body CIBJO (Confederation Internationale de la Bijouterie, Joaillerie, Orfevrerie, des Diamants, Perles et Pierres).
3 Improvement of Condition
Members will:
- a) Ensure that they have up-to-date knowledge regarding the market conditions that influence trade prices of metal, gemstones and labour, and be aware of the changes due to fluctuations in overseas and local markets.
- b) Maintain proficiency in the knowledge of gemmology, testing of metals and the processes used in manufacture and finishing.
- c) Ensure that they have up-to-date equipment, tools and instruments necessary to carry out an assignment effectively.
4 Suspension and Expulsion
- a) If members are considered, after investigation, to have breached this Code of Ethics, their AIJV membership will be terminated.
- b) The business upon suspension or expulsion will relinquish the right to any of the benefits of membership, will be forbidden to use the AIJV logo or refer to it’s membership status of the AIJV on any published document, report or website. All certification will be recalled to the Association.
- c) Expulsion will be at the sole discretion of the AIJV without any right to recover fees paid and without any right to compensation.