During TEGoVA's 2004 General Assembly, all 40 member Associations agreed on new Corporate Governance rules for property valuers to apply throughout Europe.

With this decision, European property valuers respond to the demand for transparency, integrity and independence of valuers undertaking property valuations. In recent years, corporate governance and self commitment rules have become more and more important in Europe . European property valuers have now decided to follow this route and to set European standards for the profession. The new rules are another important part of TEGoVA's efforts to promote best qualification standards for valuers and best practice in educational requirements across Europe.

Raymond Trotz, TEGoVA chairman, said: ,,By drafting these new Corporate Governance rules in simple and clear language, TEGoVA has successfully set European minimum standards and made property valuation more transparent. The rules deal with all important issues of concern to clients such as confidentiality of customer relationships, the treatment of conflicts of interest or the qualification of valuers. The new set of rules places the relation between valuers and their customers on a clear footing; they are easily understandable for every customer.'

The Corporate Governance rules can be consulted at and/or downloaded from the TEGoVA website www.tegova.org .

The European Group of Valuers' Associations is an international Association under Belgian law comprising 40 professional associations representing valuers from 27 European countries, with a total of over 500.000 members.

Contact: TEGoVA Secretariat