Converse Bank CJSC Announces Tender for Evaluating the Property To Be Pledged at the Bank

Minimum Requirements of Converse Bank CJSC to Appraisal Companies:

1. All criteria obligatory pursuant to RA "Real Estate Valuation Standards" and stipulated by the RA Law "On Valuation of Real Estate",
2. Three-year professional experience in this field,
3. Ability to make assessment in marzes,
4. Competitive price system,
5. Revaluation of the real estate, appraised by the company once a year free of charge,
6. Provision of quarterly analysis (free of charge) on the real estate market (increase in prices, price downturn, %-comparison between the same period of the precedent quarter and precedent year),
7. Comparison of liquidity coefficients per type of property and regions,
8. Provision of information about emergency state of buildings and realization areas,
9. Submission of appraising results in the form of information letter, wherein stated values should not differ from market or liquidity values reported in the final financial statement. The information letter should be presented to the bank in electronic and document format.

Supplementary Criteria the Appraisal Companies Must Comply with:

1. The partner companies should open a relevant account in Converse Bank CJSC to which will be transferred relevant remuneration fee,
2. The company should periodically organize free seminars for the Bank correspondent employees to get familiarized with the market and prices of real estate,
3. The appraising company will carry out purchase/sale and renting of the property valuated by the latter,
4. Precedent experience in cooperation with Converse Bank is a privilege,
5. Appraisal company must certify availability of responsibility insurance,
6. The company hires more than 2 qualified valuators.

In the case you apply with above stated criteria please feel free to submit your application to Converse Bank CJSC until 01.07.2010, and present: 

- Copies of licenses/patents,
- Copies of valuators' qualification certificates,
- Price-list of services rendered, including due dates, sample forms of appraisal statements and information letters,
- Copy of the Company Charter,
- Copy of the State Registration Certificate,
- Copy of the Director's passport,
- Addresses of all branches/offices operating in the territory of RA.

Our contacts: Converse Bank CJSC, 26/1 V.Sargsyan  

Tel. 511 254, 511 211 (325)

E-mail: [email protected]