Brief History and Role
UNP is a non-profit, non-governmental and independent association of valuers in different disciplines. Founded in 2021, it promotes best practice, standards, methods, and techniques of valuation. At the present time, UNP counts about 20 members, mostly real estate valuers who obtained the REV status within the NAVS Programme.
Anticipated matrix structure of UNP is divided in sectors:
- Real estate valuation
- Machinery and equipment valuation
- Banking and Risk Management (Collateral management)
Due to the long history of the State’s certification system of court experts in different fields, under the Ministry of Justice, the valuers' profession has gradually and inappropriately been equated with the practice of court experts. Usually, appraisals are made by court experts and the Ministry of Justice is in charge of appointing them (expert witness). As the process in not aligned with EVS, very few issues of real estate valuation are covered within the Court expert certification.
Accordingly, court experts / civil engineering and architects make real-estate appraisals and court experts for mechanical engineering make equipment appraisals based on this appointment.
Since the main real estate valuation user in BiH is banking sector, the past decade saw a slow and difficult process of aligning existing valuation practice with international standards.
Since there was no legal frame for mandatory Standards (EVS, IVS…) usage, the entire discipline was misused and mistreated.
The Banking Regulatory Agency (FBA and ABRS) having provided the Regulatory Framework (2021 full implementation of the Framework) which defines almost full alignment with EVS, it has come to a point where local associations should approach the educational process and CPD programme. Hence, this application is regarded as highly important to emphasise the EVS principles and provide proper guidance to all local valuers .
Principal Activities
One of the priority UNP missions is to develop the valuation profession in BiH, based on the generally accepted valuation principles, where each valuer has to satisfy minimum requirements, as defined in EVS.
UNP has excellent cooperation with similar organizations in the region primarily NAVS (Serbia) – which acts as main contributor in educational and CPD programmes for UNP members.
Principal Areas of Policy
UNP objectives are to:
- contribute to development and improvement of the profession
- ensure the potential of the appraisers in BiH
- ensure application of appraisal methodologies, principles
- promote application of EVS throughout BiH
- develop relations with similar relevant professional organizations and stimulate the information exchange among members
- establish and develop relations with non-governmental institutions and organizations, both national and international, aimed at promoting the profession of appraiser
- create the valuation education program
- establish ethical principles consistent with the accountability and dignity of the profession of appraiser
- monitor the work of its members to ensure compliance with the standards and ethical principles
Organisation
Structure of the Association:
- Assembly
- Management Board
- President of the Association
- Membership Committee
- Disciplinary Commission
- Secretary of the Association
Membership
According to Membership, members are divided into:
. Observer
. Associate
. Accredited