IFRS defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The IFRS definition of fair value is assumed in the INREV Guidelines, except where specifically mentioned otherwise.
Global Definitions Database
Fair value (IFRS definition)
Source: INREV | Date: 23 March 2020 | ID: D0198 | Version: 5
Fair value of vehicle according to INREV guidelines
NAV as reported by the manager in accordance with the INREV NAV module.