Detailed explanation
The Red Book sets out mandatory Valuation Practice Statements (VPS) and Valuation Practice Guidance (VPGA) applications. Key statements: VPS 1 (compliance), VPS 3 (report), VPS 4 (bases of value), VPS 5 (approaches). VPGAs include VPGA 2 (secured lending), VPGA 4 (trade-related), VPGA 5 (specialised property), VPGA 10 (development land). Every Moroccan RICS-regulated valuation must declare compliance with the Red Book.
Moroccan example
Every ReaConsult report opens with 'This valuation has been prepared in accordance with the RICS Valuation — Global Standards 2025 (Red Book).' Banks and auditors rely on this declaration.
Related terms
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