Compensation Claims Valuation Template: Deploying Current Ethical Standards and Realities in Practice

Abstract

In Nigeria's economic revitalization, valuation for compensation claims is crucial in ensuring equitable compensation for project-affected persons (PAPs) whose occupancy rights have been revoked for public use. Estate surveyors and valuers are essential in executing compensation claim valuations by adhering to ethical standards and professionalism to uphold public trust and confidence in the valuation process. Conducting compensation claims valuations with integrity, objectivity, impartiality, confidentiality, competence, and professionalism is crucial for promoting and preserving public trust. The Nigerian Valuation Standards (The Green Book) provides guidelines and principles for Estate Surveyors and Valuers in conducting valuation and ensuring consistency, objectivity, and transparency in the valuation process. This paper aims to discuss the ethical standards required of Estate Surveyors and Valuers in valuing compensation for economic revamping in Nigeria, focusing on the importance of adhering to ethical guidelines and standards in valuation practices.

Keywords: Compensation, Valuation, Estate Surveyors and Valuers, Ethics, Professionalism.