Effective Date: This policy was last updated on 20 September 2024

Company Legal Name: Rikrland Valuation Services, Limited Liability Company (Alaska Domestic Limited Liability Company)

Purpose: This policy outlines the terms and conditions under which clients can cancel professional services contracted from Rikrland Valuation Services. It aims to provide clarity and fairness in the event of a request for service cancellation.

Cancellation Window:

• Clients may cancel their contract for professional appraisal services within 24 business hours of executing the engagement contract for a minimal administrative fee ($150), provided no work has been initiated on the contracted service.

Cancellation Fees:

• If cancellation is requested after the 24-hour period but before the appraiser begins work on the property, a cancellation fee of 10% (but not less than $150) of the quoted appraisal fee will be charged.
• If the appraiser has already started the appraisal process (e.g., scheduling, travel, or initial inspection), a cancellation fee of 25% of the total appraisal fee will apply. Any travel costs incurred, and or non-refundable deposits paid, such as airfare, specific data purchased, etc., will be added to the fee and itemized in the cancellation final invoice.
• If significant work has been completed (e.g., the site visit has been completed, or the appraiser has traveled to begin work, or the appraisal report is half finished or more), the cancellation fee will be 75% of the total appraisal fee. Any travel costs incurred and or non-refundable deposits paid, such as airfare, specific data purchased, etc., will be added to the fee and itemized in the cancellation final invoice.
• No refunds will be given once the appraisal report is completed and delivered. Cancellation is not possible, nor legal, once the client has viewed or received any appraisal work and, or opinions of value.
• If the contracted fee was paid through a processing service or another third party that charged a fee not refundable to Rikrland Valuation Services, that fee will be added to the cancellation fee schedule outlined above and elsewhere in this policy. Examples include merchant processing fees, chargeback fees, etc.

Procedure for Cancellation:

1. Notification: Notify us of the cancellation in writing via email to admin@RikrlandVS.com or by certified mail to P.O. Box 989, Kenai, AK 99611
   • Subject: Cancellation of Appraisal Services – Insert Client Name or Order Number/RVS job number if known
2. Confirmation: Upon receipt of your cancellation request, we will confirm the cancellation and any applicable fees in writing. An itemized cancellation invoice will be created and forwarded within five business days of the confirmation email.

Exceptions:

• In extraordinary circumstances, such as natural disasters, the cancellation policy might be waived at the discretion of Rikrland Valuation Services. Please provide documentation or evidence of such events.

Refunds:

• Refunds, if applicable, will be processed within 30 business days from the date of cancellation confirmation.
• Refunds, if applicable, will be funded via a business check sent via a secure mail option to the address the client provides. This method applies to all types of funding, including cash, checks, bank wires, and bank ACH funding. Fees paid via other currency, commodities, or goods will have specific refund terms outlined in the engagement contract if appropriate.
• In a case where an entire contracted amount has not been funded at engagement, cancellation COULD result in additional fees being owed by the client. Any such additional funds owed will be itemized and stated on the cancellation invoice. Any amount owed as indicated on the cancellation invoice will be due at delivery of the invoice and subject to the customary collection fees if not paid in accordance with the due date as outlined in Rikrland Valuation Services Billing and Collections Policy or also indicated on the engagement contract and invoices.

Liability:

• Rikrland Valuation Services is not liable for any costs, expenses, or damages incurred by the client due to the cancellation of services unless otherwise stated in this policy or governed by law.

Changes to Policy:

• Rikrland Valuation Services reserves the right to modify this cancellation policy anytime. Changes will be communicated to clients via our website.

Agreement: By ordering an appraisal from Rikrland Valuation Services, the client agrees to these cancellation terms.

Contact: For any questions regarding this policy, please contact us at admin@RikrlandVS.com.