The valuation expert appointed by the SCC carries out the assignment under the following conditions. These conditions ensure a smooth and fair process for all parties involved.
- Price transparency: before the valuation process itself begins; the parties are informed of the approximate cost of the valuation. This information is provided either during the initial meeting with the parties or beforehand. The aim is to ensure transparency and predictability for the parties.
- Partial pre-payment of the fee: the valuation expert may request the parties to pay up to 50% of the fee in advance. After the completion of the valuation, a final settlement of accounts is made. Depending on the final scope of the work, it may be necessary to adjust the fee.
- Prompt engagement in the valuation process: parties are expected to promptly sign the engagement letter and provide all relevant information required for the execution of the assignment. This helps to expedite and to streamline the valuation process.