• Home
• About Us
  • Mission
• Training Courses
  • Learner's Forum
• Members
  • Valuation & Auction Specialities
  • Members List
  • Member's Forum
• Joining
• Contact Us

Mission Statement

The Auctioneers & Valuers Association of Australia is committed to ensuring the highest standards of professionalism and sound practice in the fields of auction and valuation.

Objectives

In order to achieve our mission statement, the Association is committed to:

• Ensuring that members provide the highest level of professionalism and service to clients in the fields of auction and valuation.
• Ensuring that Members are acknowledged as the foremost professionals in the fields of auction and valuation.
• Promote and encourage the continuing education of members.
• Encouraging the dissemination of professional knowledge between members.
• Providing support and guidance to members as and when required.
• Facilitating amicable settlement of professional difference between members.
• Arbitrating on questions relating to the professional behaviour of members.
• Continually encouraging excellence in the fields of auction and valuation.

Code of Ethics & Rules of Conduct

The Association's Code of Ethics act as a general guide for the conduct of members to ensure a high standard of practice, both between members and the public and between members of the Association itself.

The articles of the code are as follows:

1. Members must not engage in conduct that is deliberately misleading or deceptive or through negligence is likely to mislead or deceive.
2. Members must, within the law, always act in the best interests of their clients.
3. Members must remain informed of their legal obligations and honour both the letter and the spirit of those obligations.
4. Members must advise prospective clients, in writing, of all relevant fees and charges prior to accepting a retainer.
5. Members must respect their clients' confidential information and not take unfair advantage of that information.
6. Members must always fully identify themselves in all their dealings.
7. Members must support and use their best endeavour to protect and promote the Association's objectives and reputation.
8. Members must not seek any commercial profit from holding any office with the Association. Members must not refer to any office that they may hold with the Association in any advertising materials.
9. Members must provide the Association with any details should they become aware of conduct by another member which is in breach of this Code, or is unbecoming of a Member.
10. Members who are employees must not join in any unbecoming conduct by their employers.
11. Members must maintain audited trust accounts.
12. Members must maintain professional indemnity insurance.

AVAA CODE OF DUE DILIGENCE

AVAA Recommended Code of Due Diligence in Order to Prevent Money Laundering and Terrorism Financing.

1. Confirm and record the identity of Vendors and Customers.
   The following data can be collected:
   1. Name
   2. Date of birth
   3. Postal, email and web address
   4. Phone numbers - land line and mobile
   5. Nationality and country of residence - passport number noted where necessary
   6. Photographic identity
2. Formal financial systems to be used to conduct financial transactions.
   The following steps may be taken:
   1. Bank Account details be recorded
   2. Payments be conducted via cheque or electronic funds transfer
   3. Cheque payments can be mailed
3. Vendors monies to be maintained in an audited Trust Account.
   
   The AVAA Constitution requires Corporate and Sole Trader members who hold monies on behalf of their clients operate an audited Trust Account. This provides an audit trail as well as prevents misuse of monies. This is considered best practice.
4. Vendors to sign a form identifying the item for sale and confirming that it is the unencumbered property of the vendor and that they are authorised to sell it.
5. Be aware of The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF).
6. Be aware of The Australian Transaction Reports and Analysis Centre (AUSTRAC) requirements.
   
   These requirements include certain transactions above a threshold, certain international funds transfer, inter State movements of physical currency and electronic funds transfer.
7. Be aware of The Registration of Interests in Goods Act 1986. The Register of Encumbered Vehicles (REVS) a statutory public register that holds information about motor vehicles and boats that have been used as security for a loan from a bank, finance company, credit union or other credit provider.
8. Conduct checks with existing stolen property registers.
9. Be suspicious of any item where asking or requested reserve price does not compare to its market value. Pay particular attention to late entries.
10. If in doubt do not accept the item for sale.
11. Report suspicion to regulatory bodies.