Last updated 20 July 2021
These terms and conditions apply to all services (Services) that Acumentis Group Limited ABN 50 102 320 329 of L7, 283 Clarence Street, Sydney NSW 2000, its subsidiaries, related bodies corporate, licensees, franchisees and affiliates operating under the Acumentis brand (Acumentis) performs or provides to self managed super fund clients and/or their trustees (you), unless you and Acumentis sign a written agreement that expressly excludes or override these terms and conditions.
- The agreement between you and Acumentis consists of these standard terms and conditions and the Self Managed Super Fund Property Assessment Engagement Form, that Acumentis gives you (Proposal) confirming Acumentis’ proposal to provide Services to you. The Proposal will identify the Acumentis company, subsidiary, related body corporate, licensee, franchisee or affiliate operating under the Acumentis brand providing Services to you, and to whom these terms and conditions apply in their provision of Services to you.
- Any direction or notification whether written or verbal from you to Acumentis, that indicates that you accept the Proposal and/or that you direct Acumentis to undertake the Services described in the Proposal, is deemed to be your acceptance of these terms and conditions and when an agreement is formed.
- Acumentis may refuse to provide the Services until you provide written acceptance of the Proposal and these terms and conditions.
- Acumentis will commence the Services on either:
- the date that you accept the Proposal or direct Acumentis to provide the Services; or
- any other date that you and Acumentis agree in writing or is specified in the Proposal, and will continue until the Services are complete or Acumentis’ engagement is terminated in accordance with these terms and conditions.
- To the full extent permitted by law you agree to release Acumentis and hold Acumentis harmless from all liability to you for or in respect of any loss, damage, costs and expenses of whatsoever kind which Acumentis have or may have or, but for the operation of this clause, might have had arising from or in any way connected with the Report, Services or the use of the Report or Service or any part of them. This release is complete and unconditional.
- Acumentis will:
- exercise reasonable skill and care in performing the Services and will comply with any codes of practice and other standards applicable by law;
- use all reasonable efforts to inform itself of your requirements; and
- consult with you as Acumentis considers reasonably necessary throughout the performance of the Services.
- You must:
- give Acumentis adequate directions and instructions to define your reasonable requirements of Acumentis in performing the Services;
- fully disclose to Acumentis all information, documents and other particulars you hold or have access to relating to the Property and the requirements for performing the Services or that Acumentis otherwise reasonably requests; and
- ensure that all information, documents and other particulars you give Acumentis relating to the Property and the Services are truthful, accurate and complete, and fully and frankly disclosed to Acumentis.
- You warrant that:
- the instructions and subsequent information, documents and other particulars you supply to Acumentis contain a full and frank disclosure of all information that is relevant to our provision of the Services;
- any third-party expert or specialist reports you provide Acumentis for the purpose of Acumentis providing the Services are provided with the authority of the authors of those reports.
- Changes to the scope of services
- If any material alteration, addition to or deletion from the Services is required (Variations), Acumentis and you must agree on these Variations in writing, and they are not effective unless and until that occurs.
- If the Services are varied in accordance with clause 1, Acumentis is entitled to claim payment for any varied services, and you agree to pay Acumentis in accordance with Acumentis’ normal rates or as Acumentis reasonably determines.
- Due to changes in the property market and circumstances of the Property, the Services and Report can only be regarded as relevant as at the date of the Report. Any value specified in a Report may change significantly and unexpectedly at any time, including but not limited to as a result of general market changes or factors specific to the particular property. You accept the risks associated with market movement after the date of the Report, including without limitation, any fall in the market value of the Property.
- Our provision of the Services is subject to the basis of assessments, qualifications and disclaimers and conditions as outlined in the Report. Acumentis does not represent it is expert in the areas including but not limited to Surveying, Building Certification(s), Quantity Surveying, Engineering, Town Planning, or Environmental Consultants.
- All land areas, building areas and lettable areas referred to in a Report are approximate, and even professional surveyors can differ in relation to the measurement of areas. If you subsequently ascertain that areas referred to in a Report differ from other information provided to you, you agree to refer the Report back to Acumentis for comments and, where appropriate in Acumentis’ opinion, amendment.
- Acumentis will not, nor is Acumentis required to, inspect the Property, and you acknowledge an agree that the Services do not include a physical inspection of the Property.
- Reports will be based on:
- information and data generally available at the date of the Report; and
- the information you provide Acumentis about the Property, and will not reflect future values or predictions.
- You agree that:
- any errors in the documents, information and other particulars you provide Acumentis about the Property; or
- your failure to provide or fully disclose to Acumentis information about the Property of which you are aware or ought reasonably be expected to be aware could result in errors in the Report, for which Acumentis will not be liable or responsible.
- Records and documents
- Neither the whole or any part of any documents Acumentis produces (including but not limited to Reports) or any reference to same may be included in any published document, circular or statement without Acumentis’ prior written consent, including as to the form and context in which it may appear. Acumentis may withhold its consent in its absolute discretion. Acumentis is entitled to make any approval of a request for consent conditional on payment of an additional fee and/or provision of an indemnity from you to Acumentis on terms Acumentis requires.
- Subject to any laws to the contrary, it is Acumentis’ practice to destroy documents and records belonging to Acumentis after they are more than 10 years old. You consent to Acumentis destroying any documents that belong to you which become filed amongst Acumentis’ own papers. You agree that these data retention arrangements are acceptable.
- Fees and expenses
- Acumentis’ fees for the Services will be charged on the basis set out in the Proposal, or as Acumentis and you otherwise agree in writing. GST at the prevailing rate will be added and forms part of Acumentis’ fees.
- Unless Acumentis otherwise agrees in writing, fees and expenses will be invoiced before the Services are commenced, and are payable before we commence work and in accordance with Acumentis’ tax invoices.
- If you instruct Acumentis to proceed with the Services and subsequently cancel after Acumentis has commenced work (but before Acumentis provides the Report), you will not be entitled to a refund.
- Each party must keep confidential any confidential or proprietary information that one party provides to the other, except:
- where the party who gives the information consents to disclosure;
- as may be required to be disclosed by law or to defend itself against a suit or action; or
- where information is already publicly known.
- Acumentis may engage sub-contractors to perform all or any part of the Services, however, Acumentis remains liable to you for any of the Services that are provided by Acumentis’ sub-contractors. Acumentis is not required to disclose to you the involvement of any sub-contractors.
- Acumentis may terminate its appointment to provide you with the Services, for any reason, on written notice to you. Termination will be without prejudice to either party’s accrued rights and obligations incurred prior to the date that termination becomes effective.
- Acumentis will not be liable for any consequential loss or damage or loss of profits claimed which relates in any way to the services performed pursuant to these Terms, or any work done in connection with those services.
- The releases, indemnities and limitations of liability in these Terms will not apply to conduct by Acumentis which is fraudulent and or wilfully dishonest.
- If any provision of these terms and conditions is held to be prohibited, invalid or unenforceable in any jurisdiction:
- that provision is ineffective to the extent of the prohibition, invalidity or unenforceability in that jurisdiction, and
- the remaining provisions of these terms and conditions are not affected.
- Intellectual Property
- All intellectual property rights and all other rights in reports, drawings and accounts, including but not limited to any Reports and other documentation created, prepared or produced by Acumentis in relation to Acumentis’ performance of the Services, shall be exclusively owned by and remain vested in Acumentis.
- Governing law
- These terms and conditions are governed by the law in force in the state or territory in which Acumentis performs the Services and the parties submit to the non- exclusive jurisdiction of the courts of, or exercising jurisdiction in, that state or territory.
- In these terms and conditions, unless the context indicates a contrary intention:
- Acumentis means the entity within the corporate group of Acumentis Group Limited that provides the Services and includes its subsidiaries, related bodies corporate, licensees, franchisees and affiliates operating under the Acumentis brands. The Acumentis entity providing the Services to you will be stated in the Proposal;
- Property means any properties in relation to which you ask Acumentis to perform assessment, advisory or other services, which may be detailed in the Proposal;
- Report means any report that Acumentis provides to you that is prepared and signed by a valuer representing Acumentis and formally issued to you; and
- You & your means any party to who Acumentis directly or indirectly provides Services, including Reports, jointly and severally.
- a reference to;
- the singular includes the plural and vice versa
- an individual or person includes a corporation, partnership, venture, association, authority, trust, state or government;
- time is to time in the state or territory where the Services are performed;
- a day is to a period of time commencing at midnight and ending 24 hours later;
- a month is to a calendar month;
- where an expression is defined, another part of speech or grammatical form of that expression has a corresponding meaning;
- any headings in this document are for convenience only and do not affect interpretation; and
- including and similar expressions are not to be treated as words of limitation.
- Unless expressly stated to the contrary in the quote, proposal, submission, annexure or letter of which these standard terms and conditions form part, if there is any inconsistency between these standard terms and conditions and the quote, proposal, submission, annexure or letter, these terms and conditions prevail to the extent of the inconsistency. These terms and conditions apply to the exclusion of any order form, terms and conditions or document that you issue to Acumentis.
Liability limited by a scheme approved under Professional Standards Legislation
Qualifications & Disclaimers:
This advice is given in accordance with the terms and conditions provided here which you have declared to have read and agree to.
This Restricted Property Assessment is for the use only of the party to whom it is addressed and for superannuation fund reporting purposes and for no other purposes including but not limited to, mortgage security purposes. No responsibility is accepted to any third party who may use or rely on the whole or any part of the content of this Assessment.
This assessment is current as at the date of the assessment only. The assessment herein may change significantly and unexpectedly over a relatively short period (including as a result of general market movements or factors specific to the particular property). We do not accept liability for losses arising from such subsequent changes. Without limiting the generality of the above comment, we do not assume any responsibility or accept any liability where this assessment is relied upon after the expiration of three (3) months from the date of the assessment, or such earlier date if you become aware of any factors that have any effect on the assessment.
Concerns over the Coronavirus (COVID-19) global pandemic has recently resulted in sharp falls on global and local stock markets. Travel bans, quarantine measures and supply chain interruptions are impacting global and local economies with many governments announcing economic stimulus measures. As at the date of assessment, whilst there appears to be a general softening of buyer and tenant demand for property in this locality, obvious negative impacts on the local property market are difficult to quantify at this stage, however these may emerge over time. Any deterioration in the Australian economy may flow to the local economy and could have a negative impact on the subject property. This current global issue remains a fluid situation with updates being provided on a daily basis by governments.
We have been specifically requested to conduct a Restricted Assessment and the reliant party is fully aware that we have not physically inspected the subject property. The reliant party agrees to accept this assessment having regard to the risks inherent in relying upon an assessment which does not have the benefit of a comprehensive inspection. In providing this assessment we have relied on specific documents and information provided by the client.
Accordingly, but subject to compliance by the Valuer with the accepted requirements of a Restricted Assessment, any supporting documentation and the stated instructions of the reliant party, the reliant party agrees that it will have no cause of action against the Valuer whether in tort or otherwise by reason only that the client suffered loss or damage by relying upon a Restricted Assessment.
Furthermore, the reliant party acknowledges that it accepts that a Restricted Assessment is not and will not be construed to be a valuation in the same meaning as a valuation conducted in accordance with the General Concepts, Principles and Definitions detailed in the standards promulgated by the Australian Property Institute, which is based on a physical inspection of the subject property.
Unless stated otherwise within the report, no Asbestos Materials Report has been provided, nor are we aware of the presence of Aluminium Composite Panels. Should any such matters be known or discovered, no reliance should be placed on the assessment of value unless Acumentis has been advised of these matters and has confirmed that the assessment is not affected. Acumentis has not physically inspected enclosed cavities or air-conditioning plant and equipment and this assessment assumes these areas do not include asbestos based materials.
Unless stated otherwise in the report, no soil tests or environmental studies have been made available. Therefore, it should be noted that the assessment is subject to there being no surface or sub-surface soil problems including instability, toxic or hazardous wastes, toxic mould, asbestos or building material hazards in or on the property that would adversely affect its existing or potential use or reduce its marketability. Should any problems be known or arise, then the assessment should be referred to Acumentis for review as Acumentis deems appropriate.
The reliant party client acknowledges and recognises that Acumentis are not an expert in identifying environmental hazards and compliance requirements affecting properties.
Flooding information noted has been obtained from the relevant authority. This information has been relied upon and no responsibility is accepted for the accuracy of the flooding information provided. Should the information prove incorrect in any material respect, the assessment should be returned to Acumentis for comment.
Unless stated in this report, this assessment has assumed that the improvements to the site comply with all statutory requirements with respect to health, building, town planning and fire safety regulations and that all appropriate approvals have been obtained from the relevant authorities. This assessment also assumes that all improvements on site are constructed in accordance with the Building Codes of Australia and that all materials used comply with relevant Australian Standards. Further, our report is made on the basis that all improvements are in good condition, unless otherwise specifically noted.
Should there be any variation to the lease details as summarised in the report, Acumentis reserves the right to review the assessment.
We have searched the publicly available records for the relevant zoning and/or designation for the information noted above. We advise however, that unless otherwise stated, a formal search with the appropriate Local Authority has not been carried out or obtained.
Unless stated in this report a current site survey has not been sighted. Any comments given in relation to the property are not given in the capacity as an expert, however, are based on the inspection of the property and review of title plan. The assessment is made on the basis that there are no encroachments (unless otherwise noted) by or upon the property. If encroachments are noted by a site survey, Acumentis should be consulted to asses any impact on the stated assessment.
If a strata titled please note that no search of the owner’s corporation/Strata Company’s/body corporate records has been undertaken. This assessment is conditional upon there being no outstanding financial liabilities associated with the subject lot and that there are no notable special levies proposed or agreed for the strata scheme. Should confirmation be required, a formal search of the owner’s corporation or body corporate records should be obtained.
If strata title, whilst a copy of the Strata Plan has been obtained and reviewed, unless otherwise stated in the report, the interest recorded on the Common Property has not been investigated. This assessment assumes interests registered on the Common Property, including By-Laws, do not inhibit utility or value of the subject unit.
Below is applicable for Rural & Agribusiness clients only:
Unless stated otherwise with this report, we have not been provided with any information relating to any current or proposed Native Title claim in relation to the subject property. This valuation is undertaken on an unencumbered fee simple basis such that the subject property is assumed to be unaffected by Native Title. If this assumption is found to be incorrect, the valuation must be returned to Acumentis for review and potential amendment.