Retained Funds & Payment Policy

Last Updated: January 2026

This policy applies only to engagements billed on an hourly or time-based basis (e.g., appraisal consulting, expert witness preparation, ongoing review work, litigation support hours). It does **not** apply to fixed-fee or flat-rate appraisal assignments, which have separate payment terms outlined in the engagement contract.

Purpose

A deposit (retained funds) secures our time, covers initial costs, and protects against cancellation or incomplete payment. It is applied to hourly fees, expenses, flat-rate services, and minimum charges as earned or incurred. No interest accrues on the deposit for the client’s benefit.

Initial Deposit & Replenishment

• Initial Deposit: Required upon contract execution (amount varies by assignment; typically 50% or more of the estimated fees, or 45 days’ worth of anticipated billable hours and fees).
• Minimum Balance: The deposit must remain above a minimum threshold (e.g., $1,000 or as stated in the contract).
• Replenishment: If the balance falls below the minimum, we will notify you (email sufficient). You must replenish within 2 business days or it constitutes a material breach, allowing us to cease work, terminate, and retain any remaining balance.

Minimum Quarterly Billing

To ensure availability, priority scheduling, and reserved capacity, ongoing or active engagements billed hourly require a minimum quarterly billing of at least 1 hour of Appraisal Consulting at our standard rate ($200 per hour as of 2026, subject to change with 30 days’ notice).

This minimum:

• Applies only to ongoing or retained consulting/expert witness relationships
• Is triggered each calendar quarter (Jan–Mar, Apr–Jun, Jul–Sep, Oct–Dec)
• Counts any actual billable time in the quarter toward the minimum
• If billings are below $200 in a quarter, we will invoice the difference to meet the minimum

Statements & Billing

We provide itemized statements (date, description, time, rate, expenses) via email within 2 business days after each billing period. Sales tax is added where applicable.

Flat-Rate Services

Any flat-rate fee for a specific report, research, or deliverable is due in full before work begins. Flat-rate fee refunds are handled in accordance with our refund policy, as outlined elsewhere.

Termination & Refund of Unbilled Funds

Upon completion of services, mutual written agreement, or termination (by either party), we will issue a final itemized invoice within five (5) business days.

Any undisputed unearned balance in the Deposit (after applying all earned fees, expenses, and minimum charges) will be refunded via check or ACH within fourteen (14) calendar days of the final invoice. If fees are disputed, we may retain the disputed portion pending resolution (mediation under Alaska law preferred, venue in the Third Judicial District, Kenai, Alaska). Undisputed amounts will be refunded within fourteen (14) calendar days. The client waives any claim to interest on retained funds.

No refunds, credits, or offsets will be issued for services rendered, fees earned, or work commenced. Minimum fees and any non-refundable charges are disclosed elsewhere in this Agreement or our published policies.

Grounds for Termination by Rikrland Valuation Services

We may immediately terminate this Agreement (with or without notice) and cease all work if any of the following occur:

• The retained funds balance reaches zero or falls below zero for more than five (5) business days after notice to replenish.
• 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).
• 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 or provide 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, we retain 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.

Liability

We are not liable for costs, delays, or damages due to payment issues unless required by law. This policy is governed by Alaska law, with venue in the Third Judicial District, Kenai, Alaska.

Contact

Questions? Email admin@rikrlandvs.com or write to:

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

By engaging our hourly or retained-fund services, you agree to these terms.