Upon receipt of the request, the SCC conducts a preliminary review of its jurisdiction and confirms the receipt of the request. If the application fee has not already been paid, the SCC requests the applicant to make the payment within approximately 1 week.
Once the application fee has been paid, the SCC notifies the counterparty of the request. The purpose of the notification is to inform the counterparty about the process and to give them the opportunity to comment on the request. The deadline for such a response is usually set at 1 week. If the counterparty does not respond, the SCC sends a reminder requesting the counterparty to provide comments within approximately 1 week.
The counterparty's comments are forwarded to the requesting party for information. Further correspondence may be necessary in specific cases. The parties may express preferences regarding the candidate's profile and qualifications. The SCC takes such preferences into account in the decision-making process as far as possible.
The decision on the appointment of the valuation expert is communicated to the parties within 2 to 3 weeks after the correspondence between the parties has been finalised. During this period, the SCC will contact the prospective valuation expert to check for any potential conflicts of interest.
The valuation expert is expected to confirm their impartiality, availability, and willingness to accept the assignment in writing within 1 week from the SCC’s request.
The prospective valuation expert may be given access to the request for appointment and certain supporting documents in order to facilitate the assessment of accepting the assignment and to provide a preliminary indication of the valuation fee.
In its decision, the SCC indicates the name and contact details of the appointed valuation expert and send their confirmation of acceptance of the assignment.
After this, the case is closed by the SCC.