| Commentary

34 Valuer’s remuneration

| Commentary

34 Valuer’s remuneration

A prudent valuer should make an express agreement as to his remuneration with his client. In the case of a valuer acting as an arbitrator or an independent expert, it is even more desirable to make an express agreement with the parties instructing him as to the basis of his remuneration1. Where there is no express agreement, there will normally be an implied term of the contract that the valuer is to be paid a reasonable sum2 recoverable on a quantum meruit. If a valuer agrees to act for a fixed sum for a specified amount of

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