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Article 3
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An expert engaged to issue an opinion shall be governed by these Guidelines. Issues not addressed by these Guidelines shall refer to the Regulations on Real Estate Appraisal, Statements on Standards for Valuation promulgated by the Accounting Research and Development Foundation (ARDF), or international convention. The operating procedures shall be assessed item by item for their completion, correctness, and reasonableness; facts represented in an opinion shall be true and correct and information used in the operating procedures shall be reasonable and proper to provide a reasonable basis for the expression of opinions on the object under review. Any legitimate reason for failing to comply with these Guidelines shall be elucidated in the opinion.
For the purposes of these Guidelines, correctness means appropriate and reasonable information used from the source of the information.
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