Limitation of Liability Survey
A limitation of Liability survey is an appraisal that goes back in time to estimate the market or replacement value of a vessel or barge at the time of an accident or injury. A good example of this would be estimating the value of a trawler right before the BP spill. Since the Limitation of Liability is usually required months or years after the incident, the valuation process is usually confined to the data up to but not after the incident. We maintain a historical data base of comparable sales on the vessels we specialize in to be able to produce valuations from the past.
Why chose United Marine SURVEYING, INC.?
Most Limitation of Liability appraisals will go to litigation and/or to court. Unless you are using a Certified Marine Appraiser, your appraisal will probably not stand up to close scrutiny and examination. We are fully compliant with the Uniform Standards of Professional Appraisal Practice (USPAP) and are Certified as a Senior Appraiser through the American Society of Appraisers (ASA), a professional worldwide organization that sets the standards of appraisal disciplines. A Certified Marine Surveyor is not a Certified Marine Appraiser unless they carry that distinct qualification. These are two (2) separate professions.
Only the American Society of Appraisers certifies Marine appraisers who must pass the USPAP course, and ethics exam, and a profession exam based on their field of specialty. Marine appraisers are required to follow standards and the science of marine appraisals with comparable sales, sources, calculations, dates, estimated life, condition, etc. Marine surveyors have no such requirements.
Look for the designation “ASA”. There are no others.