One of the objectives of WAVO is to promote and disseminate knowledge of the valuation methods, techniques and practices. Towards this end, WAVO intends to organise a number of short courses relevant to the valuation profession. These courses may be conducted at different levels of competency, and may cover topical issues, with specific local or international content. Short courses refer to those conducted over a period of not more than 4 full weeks.
The purpose of this Guideline is to describe the training requirements expected of potential trainers or training organisations that intend to offer suitable training opportunities for members of WAVO organisations. In particular, it highlights the procedure for submitting their applications for consideration by the WAVO Education Committee, and other details concerning copyrights to course materials, profits distribution, and course marketing.
Any potential trainers or training organisations may submit their applications for consideration by the WAVO Education Committee at any time. The content of the submission should include the following :
In addition to the above information to be supplied, all applications must be accompanied with a sample of the course materials (not the whole course but a sufficient description of a particular section or a topic of the course). The purpose is to enable the WAVO Education Committee to assess the content and relevance of the course. The decision of the Committee is final and will be conveyed to the applicants within 3 months of receipt of an application with complete details.
The copyrights to the training course materials will determine the amount of commission fees payable to WAVO. If the copyrights remain with the trainer or training organisation, a higher fee will be payable to WAVO. Should the trainers or training organisations wish to let WAVO have copyrights to the course materials, WAVO will agree to allow the trainer or training organisation an exclusive right to conduct the training courses for a period of three years subject to a review of performance. WAVO will have the rights to assign other trainers, if required, after the three years have expired. WAVO may, of, course continue with the original trainer. Trainers who conduct courses on behalf of WAVO will be paid a remuneration to be worked out between the trainer and WAVO.
WAVO will charge a minimum US$100 for administrative fee for each successful application. Payment should be made before the approved Course will be marketed by WAVO and placed on its website. WAVO will update its website with details of the courses at every quarter.
WAVO will share 20% of the total gross profits of each course conducted if the copyrights of the course materials remain with the trainers or training organisations. In the case when the copyrights to the course materials are given to WAVO, WAVO will share only 5% of the total gross profits of each course conducted during the first three years. All course fees are to be made payable to WAVO which will in turn remit the balance to the trainers or training organisations.
All approved Courses will be marketed by WAVO through its network and website. All enquiries will be directed to WAVO which will liaise with the trainers or training organisations should a confirmed request is made.
The course materials will be printed and paid for by the trainer or training organisation subject to the condition that the front cover of the course materials should be as prescribed by WAVO (a copy can be obtained from WAVO upon approval). A copy of the course materials should be lodged with WAVO for retention. Alternatively, WAVO can print the course materials and charge it to the trainer or training organisation (prior arrangement has to be made).
For courses which are conducted overseas, prior arrangement will have to be made between the trainer or training organisation and the requester for the training. WAVO will not be involved with details of the flight and accommodation arrangements provided they are reasonable.
The purpose of this guideline is facilitate the preparation of training courses for member organisations of WAVO as well as those who are presently not qualified to join WAVO as full members because of the lack of adequate qualification and skills in valuation. These persons may have varied degree of expertise and knowledge of valuation.
It is hoped that this guideline will encourage qualified trainers and training organisations to submit their courses for endorsement by WAVO. The WAVO Education Committee hopes to endorse at least 20 such courses each year. In order to encourage the submission of courses, the administrative fee will be reduced to US$25 if the successful application is made before 31 December each year.
For further information and clarification of the scheme, please contact :
Dr Lim Lan Yuan