Appointment of Valuation Expert
We can provide you with an independent and impartial valuation expert, auditor, and other independent professionals. The valuation expert can assist you with the valuation of shares or companies.
Usually, the need to appoint a valuation expert, auditor and other independent professionals (together “valuation experts”) arises in a partnership of companies when the partners do not agree on the value of the shares. One example is when majority shareholders exercise their right to redeem shares from a minority shareholder. Impartial valuation of shares and other assets may also be relevant in other contexts, such as corporate transactions, pledging, or divorce. A valuation expert can also give an opinion on the interpretation of Generally Accepted Accounting Principles and similar best accounting principles.
A fundamental requirement for the SCC to appoint a valuation expert is that the disputed contract refers to the SCC. In most cases, a specific provision to this effect is already included in the agreement. Parties can also agree that the SCC will act as the appointing authority when a dispute has already arisen.
The valuation itself is outside the service of the SCC and is performed by the valuation expert appointed by SCC.
Model Clause on the Appointment of an Independent Valuation Expert
If the parties disagree on [the value of the subject matter], the value shall be determined by an impartial and independent valuation expert appointed by the SCC Arbitration Institute at the request of a party. The parties are obliged to promptly provide the valuation expert with the information requested. The parties have the right to access all information submitted to the valuation expert.
The valuation shall be contractually binding between the parties.
Optional additions:
The value shall be determined according to best valuation methods.
The valuation expert shall assess the circumstances as at [the date/time chosen by the parties].
The costs for the appointment and for the valuation shall ultimately be [shared equally between the parties/borne by the party requesting the valuation/[another option agreed upon by the parties]].
How to request the SCC to appoint a valuation expert?
The process for appointing a valuation expert starts when one or more disputing parties request that the SCC appoint a valuation expert.
The request should include:
- Names, addresses, telephone numbers, and email addresses, as well as personal or organisation identification numbers of all parties and their representatives.
- Information about the asset to be valued. If a company is to be valued, please provide the company registration number.
- Power of attorney for the specified representative.
- A brief description of the dispute.
- A copy of the agreement referred to by the parties as the basis for the request or a description of the agreement's contents.
- Information on audit firms or auditors who cannot be involved in the valuation due to a conflict of interest.
- Information on the language of the valuation process.
- Any comments or preferences regarding the desired qualifications of the candidate to be appointed.
The request along with its attachments should be sent by e-mail to: arbitration@sccarbitrationinstitute.com
How much does it cost?
The fee for the appointment of a valuation expert is EUR 3,000 excluding VAT (or EUR 3,750 including VAT). This fee applies only to the appointment procedure. The cost for the valuation itself is settled between the parties and the valuation expert and is not included in the SCC's fee.
The application fee is paid in euros to the following account:
Bank: Skandinaviska Enskilda Banken AB (publ)
Recipient: Stockholms Handelskammares Service AB
Account number (IBAN): SE13 5000 0000 0512 3822 5837
BIC: ESSESESS
VAT registration number: SE556095795201
Please indicate the name of the requesting party as a reference when making the payment and attach the receipt to the request.