Cost of Appraisal Sample Clauses

The 'Cost of Appraisal' clause defines how the expenses associated with an appraisal process are allocated between the parties involved, typically in the context of insurance or contractual disputes. In practice, this clause specifies whether each party is responsible for paying their own appraiser and sharing the cost of an umpire or whether costs are split differently. Its core function is to ensure fairness and transparency in the distribution of appraisal-related costs, thereby preventing disputes over payment responsibilities and facilitating a smoother resolution process.