Commercial Valuation Order Form

* mandatory field

POLICY INFORMATION

* Policy Number:
Named Insured:

RISK ADDRESS

* Street Number:
Street Name:
Street Type:
Street Direction:
* Municipality (City, Town, etc.):
* Province:
* Postal Code:

INSURED CONTACT INFORMATION

Company:
* Name:
* Phone:
Fax:
E-Mail:

REQUESTER CONTACT INFORMATION

* Requester Name:
Company:
Phone:
* E-Mail:
* Address:
* City:
* Province:
* Postal Code:

REPORT LANGUAGE

COMMENTS

SCOPE OF SERVICE

=== Scope of Service - Replacement Cost Valuation/Estimate ===

Under the terms of this engagement, we will undertake to provide you with an estimate of the cost to construct your building(s).  The agreed-upon scope of this engagement will be as outlined below, and subject to certain assumptions and limiting conditions.

1. Premise of Value - Reconstruction Cost New

The value we will provide is an estimate of the cost to replicate, at current prices, using like kind and quality materials, construction standards, design/layout, and quality of workmanship.  The estimate will provide sufficient funds to allow the construction of a similar structure, of the same size and utility, assuming normal site and construction conditions.  This estimate will also include a number of site-specific and process-related costs that are typically experienced when rebuilding after a loss.

2. What we'll do

An RMS representative will conduct a site visit of your facility, at a mutually convenient time.  During that site visit, we will review existing construction drawings, if available, and complete an internal and external visual inspection of the building.  We will measure the building to determine the current square footage, and record information on various features, including exterior wall materials, roof structure, interior finishes, HVAC, plumbing, and electrical systems.  As well, we will take representative photographs of your building.

We will review this information in our office, and enter it into the Marshall & Swift/Boeckh computerized costing system.  This system is an industry-standard construction costing system, used by many of Canada's insurers.  The data collected by our inspector will be input into this system, and adjusted to represent the building in question.  

3. Factors we'll consider

Our value estimate will consider the current cost of a contractor of average efficiency producing a property, in its entirety at one point in time, of like kind and utility equivalent to the subject property but built with modern materials and according to current standards, design, and layout.  This cost will include materials, labour, standard overheads and profits, and applicable fees.

4. Factors we won't consider

Our value estimate will not include the costs of demolition, disposal, or site remediation, nor will we consider the financial impacts of site or other limitations.  As well, we will not conduct a review, nor consider the impact, of by-laws or other municipal, provincial, or federal restrictions or codes.  In addition, we will exclude all fixtures & furnishings, licensed vehicles, specialty equipment, supplies, spare parts, inventory, manufactured products including raw materials, work in progress & finished goods, company records, drawings, research & library data, computer related data & software, and current or intangible assets, if any.

5. What we'll deliver

The results from the Marshall & Swift/Boeckh program will be printed out, along with interior and exterior photographs, and provided to you in a hardcopy format, along with our estimate of Replacement Cost New, and our assumptions and limiting conditions disclaimer.

6. Disclaimer

The information and costs contained in our estimate will be compiled from sources believed to be reliable and representative of current price and cost situations.  Please note that this Replacement Cost Valuation is not to be considered as an appraisal, but rather a current estimate of the cost to replace the existing structure(s) for insurance placement purposes only.

No warranty, guaranty or representation will be made by Marshall & Swift/Boeckh (M&S/B) or RMS Insurance Business Services Inc. (RMS) as to the correctness or sufficiency of any information or representation contained within the Replacement Cost Valuation, and neither M&S/B nor RMS will assume any responsibility or liability in connection therewith, nor can it be assumed that actual material or costs presented will not vary due to short-term, local, or national conditions.  RMS Insurance Business Services Inc. (RMS) will not be responsible to the Purchaser, or any user, of this Replacement Cost Valuation for any losses or damages, whether consequential or other, however caused, incurred or suffered, as a result of the services being provided.

Risk Management

Commercial Valuation Order Form

POLICY INFORMATION

RISK ADDRESS

INSURED CONTACT INFORMATION

REQUESTER CONTACT INFORMATION

REPORT LANGUAGE

COMMENTS

SCOPE OF SERVICE