NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
INDEMNITY AND GUARANTEE Definition of Indemnity: An indemnity contract is a legal arrangement between two parties in which one party agrees to pay another party for a loss or harm that meets certain requirements and conditions unless other circumstances are specified. It is a form of contingent contract which is characterized by all the essential […]
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Insolvency and Bankruptcy Board of India Press Release No. IBBI/PR/2022/14, 31st March 2022 Phase 4 of Valuation Examinations w.e.f. 1st July 2022 In pursuance of the rule 5 (3) of the Companies (Registered Valuers and Valuation) Rules, 2017, the IBBI, being the Authority, hereby publishes the syllabus and format of the ‘Valuation Examinations’ to be
FOUR TYPES OF LEASE-ALL YOU NEED TO KNOW BUILDING LEASE Building Lease:- It is a legal contract used by landlords and tenants to formally agree on the rental terms of commercial buildings that are used for office, industrial, or retail purposes. Landlords receive payments from their tenants in return for being able to use
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THREE TYPES OF OCCUPANCY FOR DETERMINING YOUR MORTGAGE READINESS PRINCIPAL The principal, or primary, residence is the one that you and your family live in most of the time. It is the address that will be listed on your state and federal tax returns. It can be a single-family home or it can be a
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IMPORTANT TERMS IN A LEASE AGREEMENT A lease or rental agreement sets out the rules Lessor and Lessee agree to follow in their Lease relationship. It is a legal contract, as well as an immensely practical document full of crucial business details, such as how long the tenant can occupy the property and the amount
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PLANNED PREVENTIVE MAINTENANCE (PPM) OF BUILDING It is based on a fixed execution frequency of activities that generates a calendar schedule. A time-based maintenance schedule for an asset, equipment or building fabric is based on a library with maintenance activities and its pre-set frequency of execution for that asset. These frequencies can be based on
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DIFFERENCE BETWEEN INSOLVENCY AND BANKRUPTCY The term ‘insolvency’ can be used in the context of both individuals and organizations. Insolvency represents that particular ‘state’ in which the individual or organization is not able to settle debts on time when they fall due for payment because of lack of funds or bank balance. On the other
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MEANING OF CO-OWNERSHIP AND JOINT OWNERSHIP CO-OWNERSHIP Co-owners can be a group or individuals that own a percentage of an asset in conjunction with another individual or group. A co-owner is an individual or group that shares ownership in an asset with another individual or group. Each co-owner owns a percentage of the asset, although
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MEANING OF OBSOLESCENCE AND ITS THREE TYPES When something becomes “obsolete” it means that it has either lost its function or desirability due to changing technologies, requirements, or market preferences. An easy way to illustrate this concept is to spend a moment thinking about how the way we listen to music has………….. CLICK BELOW
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VALUATION OF LIABILITIES- ALL YOU NEED TO KNOW Liabilities are generally valued on the balance sheet at either 1) the amount of money needed to pay debt 2) the FMV of goods or services to be delivered……… CLICK BELOW TO READ COMPLETE INFORMATION
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DIFFERENCE BETWEEN LEASEHOLD AND FREEHOLD PROPERTY LEASEHOLD PROPERTY In a leasehold, the lease acts as a license for the lessor, in which the freeholder of the land and property grants right to use the property for a stipulated period of time. For this, the lessor is required to pay a price in the form of
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MEANING AND IMPORTANCE OF SURVEYING Surveying, the first step of starting a new civil engineering project, is a very important branch of civil engineering. To understand the techniques of surveying a student must carefully study the basics of it. To start learning surveying one must start with the definition of surveying…………. CLICK BELOW FOR
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