General Contract Terms & Conditions

Last Updated: January 2026

This page summarizes the key general terms and conditions that appear in our typical appraisal engagement contracts. It is provided for informational purposes only, and is not a binding contract. Actual terms are customized for each engagement, and are fully outlined in the signed agreement. If you have questions, contact us before signing.

Public Disclosure & Distribution

Public disclosure and/or distribution of the analysis and reports are not typically included in this engagement contract unless specifically mentioned and authorized in the contract. No additional services are promised or guaranteed beyond those named in each contract. Other terms and restrictions may apply.

Authorized Use & Intellectual Property

Only authorized users may utilize the appraisal report for the authorized uses outlined on page 1 of each contract, and in the report itself. Any unauthorized use or distribution will be considered intellectual property theft, and Rikrland Valuation Services will aggressively pursue monetary damages in all applicable courts as required. Use of any portion of the report or reproduction/distribution on multiple listing services or other public sites is prohibited without specific written permission from the signing appraiser and Rikrland Valuation Services, LLC. This also includes any lender client who copies portions of an appraisal product and reproduces it as their own work, ie, in an internal appraisal.

Payment of Fees

Fees owed/billed are due in full regardless of whether the client or any other party is unsatisfied with the resulting value conclusions. Invoices are due upon receipt and accrue significant late fees at 30 days overdue (10% of the balance owed, then another 10% at 60 days). Invoices are considered “past due” if not paid in full within 30 calendar days from the invoice date. Delays in progress toward completion of the appraisal report may be initiated for accounts in a “past due” status. Cancellation of the contract may be considered by Rikrland Valuation Services for accounts in “past due” status for more than 60 days. Collection costs, including postage fees, attorney’s fees, additional office administration hours, and other costs, will be added to past-due accounts in an effort to collect fees owed and may be added to fees owed at the discretion of the RVS senior partners.

Lien Interest

The client acknowledges and authorizes Rikrland Valuation Services to place a lien hold interest on any real property held, including the subject, or any other property the client(s) may own, to secure payment and collection costs associated with this contract, if necessary. If the client is a financial institution/mortgage lender or other authorized representative of the owning entity, they acknowledge that they have permission from the property owner to enter into this contract.

Performance Period & Termination

This Agreement assumes a reasonable performance period and shall conclude within 180 days of the date of engagement unless otherwise expressly stated in the contract or an amendment. The Client shall mitigate, to the greatest extent reasonably possible, any delays outside the control of Rikrland Valuation Services (including, but not limited to, delays in scheduling site visits, securing funding, or providing requested information). Rikrland Valuation Services reserves the absolute right to deny any extension beyond the 180-day period or to terminate this Agreement at or after the 180-day mark for any reason, including unmitigated delays. Upon expiration or termination at the 180-day period without extension, the Client shall immediately pay in full for all work completed by Rikrland Valuation Services up to that point, calculated at the original contracted rates or on a time-and-materials basis at Rikrland Valuation Services’ discretion, whichever is greater. No contract may remain on hold beyond 180 days with any outstanding balances owed. If both parties mutually agree in writing to extend or resume the Agreement after the 180-day period, the Client acknowledges and agrees to: (i) pay any outstanding balances for work completed prior to the hold or expiration; (ii) compensate Rikrland Valuation Services at its then-current rates for all remaining or additional work; and (iii) bear all costs associated with redoing or updating any prior work necessitated by the delay. Rikrland Valuation Services shall not issue partial refunds for uncompleted work at any time while this Agreement remains in effect or upon its termination.

Rikrland Valuation Services reserves the right to immediately terminate any engagement (with or without notice) and cease all work if any of the following occur:

• Any threats of lawsuit or legal action against Rikrland Valuation Services, LLC or its personnel.
• Material breach of this agreement or any of our published policies (e.g., Site Visit Policy, Cancellation Policy, Minimum Quarterly Billing Policy, Retained Funds & Payment Policy -As appropriate).
• Any criminal actions, threats of violence, harassment, or intimidation against our firm, personnel, or representatives.
• Discovery of purposeful misleading, lying, fraud, or attempts to influence or manipulate valuation conclusions through deception.
• Failure to cooperate, provide the required information, access, or documents necessary to perform the services.
• Any conduct that creates an unreasonable risk to our personnel’s safety or professional integrity.
• Violation of applicable laws, ethical standards, or professional regulations.

Upon termination for these reasons, Rikrland Valuation Services retains all earned fees, expenses, minimum charges, and any remaining deposit balance. We are not liable for any resulting deadlines, court appearances, delays, or consequences to the client.

Termination does not relieve the client of obligations for fees earned or expenses incurred prior to termination. 

Cancellation

Cancellation of this agreement will result in partial or complete forfeiture of funds paid without any partial reports provided. All cancellations following engagement will incur a fee, which will be itemized and provided to the client with either an invoice for additional funds owed or a partial refund as itemized. Refunds, if applicable, will not be processed in less than 21 calendar days from the request and may take as long as 60 dependent on the type of funding utilized and the length of time required to ensure the paid-to-date funds have fully settled.

Payment Issues

Non-sufficient funds (NSF), stop-payment or other failed checks will be assessed a $30 NSF fee plus any bank charges resulting from the returned check assessed on Rikrland Valuation Services (RVS). Alaskan statutes and Federal (if applicable for out-of-state transactions) laws will be utilized, and RVS will cooperate with the appropriate law enforcement and prosecuting authority to facilitate prosecution to the fullest extent allowed by law. Civil damages will be pursued beyond the appropriate criminal case. If work begins and the funds cancel, theft of professional service charges will also be pursued. The funding client must take all appropriate actions to communicate and fund this contract appropriately and legally.

Changes in Scope of Work

Any change in the scope of work must be negotiated and will result in a new engagement being signed, nullifying, or amending the original as indicated in the new engagement. Additional services are not guaranteed by signing this contract. This document does not constitute a retainer agreement, nor does it promise any services not outlined in this engagement. By nature of the appraisal process and appraiser independence, other parties may retain appraisal services by Rikrland Valuation Services for the subject property named in this contract, UNLESS otherwise indicated within this contract binding exclusivity.

Additional Professional Services

If, in the course of conducting appraisal services, the appraiser determines that additional outside professional services are necessary to produce a credible report as engaged, the client shall have the option of requesting cancellation of this contract for a fee (for time, work, and expenses completed — to be itemized and invoiced), OR pause completion of the contracted services and provide the professional products requested. Such services may include surveys, structural assessments, title services, or potentially legal determinations.

Early Delivery Requests

Requests for early delivery are welcome but will generally incur a RUSH fee, which will be required to be paid in full at the execution of the amended engagement, which shall fully outline the changes made to this agreement. Early delivery is not always possible.

Limitation of Liability

Rikrland Valuation Services cannot be held liable for any perceived losses due to the conclusions of our appraisal analysis. The client agrees to seek third-party arbitration outside the court system to settle any potential errors or omissions resulting in actual/perceived losses. If found at fault (in Alaskan mediation and/or Alaskan courts), Rikrland Valuation Services, LLC may only be held liable for up to and not exceeding the fee collected for the valuation service (not travel expenses), provided fees have been paid in full, and on time.

Payment Obligation

The client agrees to pay the sum and fees indicated on page one of this contract, as appropriate, regardless of the outcome or conclusions in the completed appraisal report.

Contact

For questions about these terms or our services, contact us at admin@rikrlandvs.com or write to:

Rikrland Valuation Services, LLC
P.O. Box 989
Kenai, AK 99611