ISTAT Certified Appraisers
The use of ISTAT Certified Appraiser designations is predicated upon ISTAT Appraisers Program (IAP) criteria: aircraft valuation experience, submission of example appraisal reports, written examinations, participation in the IAP's mandatory continuing education sessions, sponsorship, personal background check and maintenance of ISTAT membership.
The ISTAT Appraisers Program has established two professional status designations. They are awarded to individuals, not to corporations or other business organizations:
- ISTAT Certified Appraiser status requires a minimum of five years full-time professional aviation-related experience, of which no less than two full-time equivalent years shall have been spent conducting aircraft appraisals.
- ISTAT Certified Senior Appraiser status requires holding Appraiser certification for at least twenty-three months and having a minimum of seven years full-time professional aviation-related experience, of which no less than six years shall have been spent conducting aircraft appraisals.
The ISTAT Appraisers Program has also established two honorary designations:
- Fellow is an honorary designation, and may be bestowed by the IAP Board of Governors on an ISTAT Certified Senior Appraiser who has rendered outstanding service to the appraisal profession and ISTAT.
- Emeriti is an honorary designation, bestowed by the IAP Board of Governors on an ISTAT Certified Senior Appraiser (living or deceased), for outstanding service to the ISTAT Appraisers Program and ISTAT. The designation is not contingent upon remaining a member of ISTAT if the member is retired, incapacitated or deceased.