Code of conduct

for Expertisers in the BPP e.v. (Excerpts)

Verhaltensgrundsätze BPP

During their membership of the BPP, the expertisers must ensure that the reputation of the BPP and its members is not damaged. This obligation continues even after their departure. Through their membership of the BPP the expertisers are required to observe and maintain the code of conduct for BPP expertisers in its currently valid version.

1 General obligations

1. The expertiser performs his work conscientiously. Information that significantly affects the value of an expertised item may not knowingly be concealed and exploited to his advantage.

2. His expertising is based on the expertising rules and, where appropriate, a special regime established by Paragraph 13 of the expertising rules for the relevant expertising area. Individual agreements deviating from the expertising rules are permissible insofar as the expertised item is not marked in a different manner from that in sections 6 and 7 of the expertising rules. They must in any event be in writing for legal validity. Violations of these obligations may be treated according to section 7.9 of the Statutes.

3. The expertiser checks only such items as are referred to in Paragraph 4.1 of the expertising rules. The examination extends only to the characteristics listed in Paragraph 4.2 and where appropriate 4.3 of the expertising rules.

4. The expertiser must take note of and comply with the expertising standards and guidelines established by the BPP for the preparation of findings and attestations. Violations of the expertising standards and guidelines for the preparation of findings and attestations may be treated according to section 7.9 of the Statutes.

2. Obligations to clients

1. The expertiser is obliged to inform the customer of the rejection of an expertisation request on the basis of the expertising rules. At the request of the customer the expertiser is also obliged to communicate the reasons for the rejection of the expertisation request to the Board of Directors of the BPP (Paragraph 3.2 of the expertising rules).

2. If the expertiser is unable to carry out the expertising assignment within a period of two months (for type expertising within a period of three months) after receipt of the item to be expertised, he is to proceed in accordance with Paragraph 3.3 of the expertising rules.

3. The expertiser is required to determine the charge for his expertising work on the basis of a fixed percentage of the relevant MICHEL catalogue value or, where this is not applicable, of the commercial value. The right to agree on a minimum charge remains unaffected; the amount of the minimum charge may not be made dependent on the outcome of the examination.

4. The expertiser may only promise or accept for himself an expertising fee which complies with the principles laid down in the expertising rules. In particular, having an interest in the proceeds from the sale of the item or a payment in the event of purchase of the stamp by the client are not allowed. The expertiser may only allow or promise his client a fee for his expertisation.

5. The expertiser may only be active at the same time for several participants (such as buyer and seller) as clients if expressly agreed and disclosed.

6. The expertiser must regularly check whether the amount of asset liability insurance held by him is sufficient according to the Statutes of the BPP.

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