{"id":474,"date":"2020-12-14T13:24:55","date_gmt":"2020-12-14T13:24:55","guid":{"rendered":"https:\/\/www.apresa.nl\/?page_id=474"},"modified":"2024-05-02T08:55:16","modified_gmt":"2024-05-02T08:55:16","slug":"value-terms","status":"publish","type":"page","link":"https:\/\/www.apresa.nl\/en\/valuations\/value-terms\/","title":{"rendered":"Value terms"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column][vc_column_text font_size=&#8221;20&#8243;]When formulating a valuation assignment, the valuation principle is determined in accordance with the purpose of the valuation. The bases of value can be:[\/vc_column_text]<div class=\"vcex-module vcex-divider vcex-divider-solid vcex-divider-center wpex-mx-auto wpex-max-w-100 wpex-block wpex-h-0 wpex-border-b wpex-border-solid wpex-border-main\" style=\"width:100%;margin-top:20px;border-bottom-width:1px;border-color:#f4f4f4;\"><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Insurance valuations glossary&#8221; font_container=&#8221;tag:h2|text_align:left|color:%232981c2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_toggle title=&#8221;New-for-old value&#8221; style=&#8221;arrow&#8221;]\n<blockquote><p>The amount required to obtain new items of the same kind and quality.<\/p><\/blockquote>\n<p>This includes the costs of setting up, starting up, adjusting, engineering, project supervision, import duties, etc.[\/vc_toggle][vc_toggle title=&#8221;Replacement value&#8221; style=&#8221;arrow&#8221;]\n<blockquote><p>The amount required \u00a0to acquire items of the same kind, quality, condition and age.<\/p><\/blockquote>\n<ul>\n<li>If there is no replacement market, the highest outcome of:<\/li>\n<li>the new value after deducting an amount for physical depreciation or<\/li>\n<li>the new value after deducting an amount for economic obsolescence taking into account the state of maintenance of the item.<\/li>\n<\/ul>\n[\/vc_toggle][vc_toggle title=&#8221;Reinstatement value&#8221; style=&#8221;arrow&#8221;]\n<blockquote><p>The sum needed for the reconstruction of the insured buildings \u2013 on the same location and equivalent in terms of construction and lay-out \u2013 immediately after the occurrence.<\/p><\/blockquote>\n<p>This includes the architect\u2019s and consultant\u2019s fees, cost of drawing and of supervising during construction, municipal fees, etc.[\/vc_toggle][vc_toggle title=&#8221;Article 7:960 BW&#8221; style=&#8221;arrow&#8221;]It is determined by law that after you have suffered damage, you as an insured may not become in a more advantageous position than you were before the damage occurred. In other words, it is provided by law that you will not benefit from a claim.<\/p>\n<p>However, there is an exception built into the legal article whereby you can still receive the new-for-old value or even a higher current value. This only becomes possible with a report drawn up by a valuer. This is stipulated in article 7:960 BW.<\/p>\n<p>Apresa reports in accordance with the highest standards in respect of descriptions and details; our valuation reports comply with article 7:960 of the Dutch civil code as standard, as a result of which our valuation reports are accepted by all insurers.[\/vc_toggle][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Economic valuation glossary&#8221; font_container=&#8221;tag:h2|text_align:left|color:%232981c2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_toggle title=&#8221;Market value&#8221; style=&#8221;arrow&#8221;]\n<blockquote><p>The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm\u2019s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.<\/p><\/blockquote>\n[\/vc_toggle][vc_toggle title=&#8221;Equitable Value&#8221; style=&#8221;arrow&#8221;]\n<blockquote><p>The estimated price for the transfer of an asset or liability between identified knowledgeable and willing parties that reflects the respective interests of those parties.<\/p><\/blockquote>\n[\/vc_toggle][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text font_size=&#8221;20&#8243;]When formulating a valuation assignment, the valuation principle is determined in accordance with the purpose of the valuation. The bases of value can be:[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading text=&#8221;Insurance valuations glossary&#8221; font_container=&#8221;tag:h2|text_align:left|color:%232981c2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_toggle title=&#8221;New-for-old value&#8221; style=&#8221;arrow&#8221;] The amount required to obtain new items of the same kind and quality. This includes the costs of setting up, starting up,&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":102,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/right-sidebar.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-474","page","type-page","status-publish","hentry","entry","no-media"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Value terms | Apresa<\/title>\n<meta name=\"description\" content=\"When formulating a valuation assignment, the valuation principle is determined in accordance with the purpose of the valuation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/apresa.t.cwsite.nl\/kunsttaxaties\/waardebegrippen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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