ISTAT Appraisers Program Board of Governors
The ISTAT Appraisers Program Board of Governors (IBG) has the responsibility to govern the ISTAT Appraisers Program (IAP) and to administer, oversee, and modify standards and procedures of the ISTAT Appraisers Program, the IAP Handbook and the IAP Principles of Appraisal Practice and Code of Ethics. It also has the responsibility of hearing, ruling upon and issuing sanctions for complaints against IAP Members for allegedly violating the rules of the IAP Handbook or the IAP Principles of Appraisal Practice and Code of Ethics or established appraisal practice standards and procedures.
The IBG shall be comprised of five (or, if a Chair-elect is selected who shall not then be serving on the IBG, six) ISTAT Certified Senior Appraisers (consisting of the Chair, Vice-chair, Secretary, the two non-officer Senior Appraiser Members and the Chair-elect, if serving), plus five additional members of ISTAT (who are not IAP Members) representing other parties with interest in aircraft and related values such as leasing companies, banks and other financiers; airlines; manufacturers; repair facilities; rating agencies and brokers.
The Chair, Chair-elect, and Vice-chair each must have a minimum of ten-years’ professional commercial aviation-related experience.
For more information on the IAP and the IBG, please see the IAP Handbook and the IAP Principles of Appraisal Practice & Code of Ethics.