The document you sign
Effective August 3, 2026
These terms attach to every appraisal engagement with Clinical Asset Appraisal, a d/b/a of V.O.S Supply Group LLC, a Texas limited liability company("we," "us," or the "Appraiser"). They form part of the engagement letter and are incorporated into it by reference. Where a signed engagement letter conflicts with these terms, the engagement letter controls for that assignment.
These terms are under review by Texas counsel. They describe how we intend to work and what we do and do not take responsibility for. Nothing here is legal, tax, accounting or insurance advice to you.
Each assignment is performed in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP)in effect on the assignment's effective date, including the Ethics Rule, the Competency Rule, the Scope of Work Rule, the Record Keeping Rule, and the Confidentiality section of the Ethics Rule.
The engagement letter states the intended use and names every intended user of the report. Both are agreed in writing before work begins and both appear on the face of the report. Common intended uses include establishing or correcting the equipment schedule on a commercial property policy, supporting a Texas business personal property rendition, supporting financing or collateral valuation, supporting a buy-sell or partner buy-in or buy-out, and estate or gift purposes. Only the uses actually stated in your engagement letter apply to your report.
A report prepared for one intended use is not automatically suitable for another. If your purpose changes, tell us — a change of intended use is a new assignment, not an amendment.
Every value opinion has an effective date and speaks only as of that date. It does not describe value before or after it. Market conditions, the condition of the assets, and the composition of your schedule all change; a report does not update itself. Re-certification at a later effective date is a separate, dated engagement.
The engagement letter states the scope of work, including which assets are within scope, the type and level of inspection (if any), the approaches to value applied, and the report format (appraisal report or restricted appraisal report). A restricted appraisal report is intended for the client alone and its rationale is retained in the workfile rather than set out in the report.
Where an assignment relies on an extraordinary assumption (something assumed true which, if false, would alter our opinions) or a hypothetical condition (something assumed contrary to fact as of the effective date), it is disclosed in the report as USPAP requires, together with the effect its use may have.
This section is the substance of what we do and do not take responsibility for. Read it.
We rely on information you supply — asset lists, acquisition dates and costs, depreciation registers, serial and model numbers, service records, floor plans and counts. We do not audit, verify or attest to that information, and we are not responsible for errors or omissions in it. Where supplied information is materially incomplete or internally inconsistent, we will say so in the report rather than fill the gap silently.
An appraisal is not an inspection, a warranty of condition, a safety certification, a regulatory compliance review, or a mechanical or clinical evaluation. Internal components, calibration status, software licensing and transferability, cybersecurity posture, and regulatory or FDA status are outside the scope of every assignment unless the engagement letter expressly says otherwise. We are not qualified to and do not opine on whether a device is safe or fit for clinical use.
A value opinion is an opinion. It is nota guarantee of sale price, of insurance recovery, of assessed value, or of any third party's agreement with our conclusions. A carrier, an appraisal district, a lender, a buyer, a court or a taxing authority may reach a different number. Nothing in a report obliges any of them to accept it.
We take no responsibility for hidden or unapparent conditions of the assets or the premises, or for the presence of hazardous substances. Nothing is dismantled, opened, powered up or tested unless the engagement letter says so.
Nothing we provide is legal, tax, accounting or insurance advice, and no part of a report should be read as a recommendation to adopt any particular limit, coverage form, endorsement, filing position or accounting treatment. You should consult your own attorney, accountant, tax advisor and insurance broker. We are appraisers; we supply the number and the reasoning behind it.
No party other than a named intended user may rely on the report. Additional intended users may be added only by prior written agreement naming them, before the report is issued. Additional intended users are priced separately because each one expands the set of parties who can act on our opinion, and therefore our exposure. Delivering a copy of a report to someone does not make them an intended user and does not entitle them to rely on it.
The report may not be excerpted, abridged, quoted out of context, or distributed in part. Where it is shared at all, it must be distributed in its entirety, including all assumptions, limiting conditions and certifications. Our name, professional designations and the report itself may not be used in any prospectus, offering, advertisement or public filing without our prior written consent.
We treat the assignment, the assignment results and your confidential information as confidential under the USPAP Ethics Rule. We do not disclose them to anyone you have not authorized in writing, except where disclosure is compelled by law, by court order, or by a duly authorized professional peer review committee. If we are compelled, we will tell you unless we are prohibited from doing so.
This fee is fixed at engagement and does not change based on the findings, the values concluded, or any outcome with any third party. We do not accept contingent fees, percentage-of-savings arrangements, or any compensation tied to the direction or magnitude of a value opinion. The fee is quoted from your asset count and the size of the schedule you state at engagement — scope, not outcome. This is a USPAP Ethics Rule requirement and it is also how we prefer to work.
Half the fee is due at engagement; the balance is due on delivery. The report is delivered on payment in full. Fees are quoted in U.S. dollars.
Fees are exclusive of any applicable Texas sales or use tax, which will be added to the invoice if due. Where an engagement includes a separately identifiable component, that component is separately stated on the invoice at the time of the transaction.
Either party may terminate an engagement on written notice. On termination you are responsible for fees for work performed to the date of termination, and we will provide a statement of that work. We do not deliver a partial or draft report; an incomplete assignment produces no value opinion you may rely on or distribute.
Except in the case of our fraud or willful misconduct, our aggregate liability arising out of or relating to an assignment — whether in contract, tort, negligence, statute or otherwise — is limited to the fee actually paid to us for that assignment.
For counsel:please advise on the enforceability of a fee-denominated cap in a Texas professional-services contract, and on whether the cap should instead be set at the firm's applicable insurance limit for the relevant policy year. Please also advise on arbitration versus litigation in §6.2.
Neither party is liable to the other for consequential, incidental, indirect, special, exemplary or punitive damages, or for lost profits, lost revenue, lost business opportunity or loss of data, however caused, even if advised of the possibility.
You will indemnify and hold us harmless from third-party claims arising out of your distribution of the report to any person who is not a named intended user, or your use of the report for any purpose other than the stated intended use.
Any claim arising out of an assignment must be brought within two years of the date the report was delivered, or within the shortest period permitted by applicable law if that period is longer than two years and cannot be contractually shortened.
Clinical Asset Appraisal carries $1,000,000 professional liability and $1,000,000 / $2,000,000 general liability. Certificate available on request.
We retain the assignment workfile for five years from completion, or two years after final disposition of any judicial proceeding in which we gave testimony, whichever is longer, as the USPAP Record Keeping Rule requires. The workfile is our property. You may request a copy of the report at any time during the retention period; the report re-issue fee applies.
These terms are governed by the laws of the State of Texas, without regard to its conflict-of-laws rules. The parties submit to the exclusive jurisdiction of the state and federal courts located in Harris County, Texas.
The engagement letter together with these terms is the entire agreement between us for the assignment and supersedes any prior discussion or proposal. It may be amended only in a writing signed by both parties. If any provision is held unenforceable, the rest remains in effect.
Notices to us go to support@clinicalassetappraisal.com or to V.O.S Supply Group LLC, 2626 S Loop West, Suite 130 PMB 1149, Houston, TX 77054.
See also our Terms of Use (which govern this website and the Equipment Library) and our Privacy Policy. Those documents govern different things and do not replace these terms.