Digitory Solutions, Inc.
3 Edinburgh Drive
Peekskill New York 10566
Appraisal Contract
This agreement is between DIGITORY SOLUTIONS, INC. (Appraiser) and_____________, (Insured) set forth this ___th day of_________ 20__, for the subject property located at______________________. The insured hereby appoints THOMAS VINCENT DI SIENO of DIGITORY SOLUTIONS, INC., to serve as the _________________ (appraiser with regard to conducting a formal appraisal pursuant to a policy of
insurance issued by _________________(insurer) policy ______________ with regard to claim for damage resulting from _______ on or about on or about ___________________.
It is understood and agreed that the insured is to pay a fee of $150.00 per hour for services of APPRAISER as well as any extraordinary expenses such as travel at the rate of $.50 per mile, due upon receipt, and outside experts (if required) at their cost. Normal telephone, copy work, and postage will not be considered an extraordinary expense and is covered within the hourly fee.
It is further understood and agreed that the appraisal fee is due upon the rendering of the award by the appraisal panel. In the event the fee is not paid within 10 days of when it is due, the insured agrees to pay any and all costs of collection, including but not limited to reasonable attorney fees and court costs in addition to the fee, as well as simple interest to be computed at the rate of 1% per month.
It is also understood that pursuant to the terms of the appraisal clause of the above-referenced policy, the insured will also be responsible for payment of half of the expense of an umpire as well as half of any other expenses of the appraisal as determined by the appraisal panel. The insured's portion of the Umpire's fee will be due prior to the award being fully executed.
DIGITORY SOLUTIONS, INC., and __________________ agree to the following terms of this contract:
• The Appraiser’s Retainer Fee of $2500, is due upon receipt of this contract, and must be paid in full prior to Appraiser fully executing the contract.
• Appraiser's fee is $150 per hour. If billable hours exceed $4500, than it is agreed that the
Appraiser's fee will be capped at $4500. As per this agreement, hourly billing shall not exceed the sum of $4500 in total, regardless of how many hours exceed the cap of $4500.
• INSURED agrees to pay a retainer fee of $2500.00 upon the execution of this contract.
• INSURED agrees to pay remaining balance of this contract with (5) days of notification of the Award being issued.
• APPRAISER will independently evaluate damages sustained to personal property with regard to the appraisal. Inventory records, photographs, testimony, and appraiser's past
knowledge will all be utilized when available.
• Appraiser's job shall be complete, as soon as the award has been handed down, and all outstanding bills are paid in full.
•Under no circumstances does the APPRAISER agree to pay any fees associated with the
umpire regardless of the appraisal outcome. And insured fully understands that the carrier, as per the appraisal provision, retains the right to still deny claims.
• APPRAISER shall be held harmless in the event the carrier chooses to breach the implied covenant of good faith and fair dealings.
• APPRAISER agrees to help recommend proper legal counsel if the carrier has been subject to an appraisal award and chooses not to pay for whatever reason.
Signed this day of , 2023.
Insured
Public Adjuster
Thomas Di Sieno on behalf of Digitory Solutions Inc.