Independence & Conflict of Interest Policy
The RUG Index is committed to transparent, independent valuation. This policy discloses our founder relationship and explains how we identify and handle potential conflicts of interest.
1 · Founder Relationship Disclosure
The RUG Index was founded by Babak Ahmadi, who also owns and operates Ahmadi Rug Gallery in Skokie, Illinois. Ahmadi Rug Gallery is a retail business that buys, sells, cleans, and restores Oriental rugs. The two businesses share the same phone number, (847) 505-2175.
2 · Recusal Policy
In accordance with USPAP Ethics Rule requirements, appraisers affiliated with The RUG Index will not issue appraisal reports for rugs in which Ahmadi Rug Gallery has a current or prospective financial interest, including rugs consigned to, purchased by, or offered for sale through Ahmadi Rug Gallery.
3 · How Conflicts Are Handled
When a potential conflict of interest is identified prior to or during the appraisal process, the client will be notified promptly. The appraisal request will be declined or referred to an independent appraiser with no affiliation to Ahmadi Rug Gallery. No additional fee will be charged for this referral.
4 · USPAP Compliance
All appraisal reports issued at the Certified ($95) and Legal/Estate ($150) tiers are prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) as published by The Appraisal Foundation. The Digital ($35) tier produces a Documented Valuation Estimate, which is not a USPAP appraisal.
5 · RICA Designation
RICA (Rug Index Certified Appraiser) is a proprietary internal designation of The RUG Index. It is not affiliated with the American Society of Appraisers (ASA), the International Society of Appraisers (ISA), the Oriental Rug Retailers of America (ORRA), The Appraisal Foundation, or any government licensing or regulatory body. RICA designation indicates that an appraiser has completed training on The RUG Index methodology.
6 · Contact
Questions about our independence policy or conflict of interest procedures may be directed to: info@therugindex.com