This survey is a formal independent market valuation statement. It involves a summary inspection of the vessel.
Valuations are often requested by the Client to obtain insurance and/or finance or required by solicitors or financial institutions with regard to probate or other matters.
The purpose of the valuations and so dictating the limits of the inspection should be clearly defined.
The valuation document is a separate entity unless specifically agreed with the Client as an integral part of a full pre-purchase survey.