ASTM E 2557 : 2024
Current
The latest, up-to-date edition.
Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments
Hardcopy , PDF
English
15-06-2024
| Committee |
E 06
|
| DocumentType |
Standard Practice
|
| Pages |
14
|
| PublisherName |
American Society for Testing and Materials
|
| Status |
Current
|
| Supersedes |
1.1This practice covers standard-of-care for evaluation and classification of the financial risks from earthquake damage to real estate improvements for use in financial mortgage transactions and capital investment evaluation. As such, this practice permits a user to satisfy, in part, their real estate transaction due-diligence requirements with respect to assessing and characterizing a property’s potential losses from earthquakes. This practice is intended to address only physical damage to the property from site and building response.
1.1.1Hazards addressed in this practice include earthquake ground shaking, earthquake-caused site instability, including faulting, subsidence, settlement landslides and soil liquefaction, earthquake-caused tsunamis and seiches, and earthquake-caused flooding from dam or dike failures.
1.1.2Earthquake-caused fires and toxic materials releases are not hazards considered in this practice.
1.1.3This practice does not purport to provide for the preservation of life safety, or prevention of building damage associated with its use, or both.
1.1.3.1This practice does not address requirements of any federal, state, or local laws and regulations of building construction or maintenance. Users are cautioned that current federal, state, and local laws and regulations may differ from those in effect at the times of construction or modification of the building(s), or both.
1.1.3.2This practice does not address the contractual and legal obligations between prior and subsequent Users of seismic risk assessment reports or between providers who prepared the report and those who would like to use such prior reports.
1.1.3.3This practice does not address the contractual and legal obligations between a provider and a user, and other parties, if any.
1.1.4It is the responsibility of the owner of the building(s) to establish appropriate life-safety and damage prevention practices and determine the applicability of current regulatory limitations prior to use.
1.2Considerations not included in the scope: the impacts of damage to contents, loss of income(s), rents, or other economic benefits of use of the property, or from legal judgments, fire sprinkler water-induced damage or fire.
1.3The values stated in inch-pound units are to be regarded as standard. The values given in parentheses are mathematical conversions to SI units that are provided for information only and are not considered standard.
1.4This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
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