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EXPERT OPINIONS ISSUANCE

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Financial Expert

Issuance of technical-financial concepts for arbitration tribunals, judicial instances and/or internal processes of companies. A Financial Expert is a natural or legal person, whom due to his knowledge and experience in a specific area or field of work, has the capacity to present an objective and informed opinion within a legal process framework. 

Normally, the expert is hired by one of the parties linked to the process, which is why it is called the Financial Expert of the party, and the report it presents is known as an opinion, expert-opinion or expert-opinion of the party.

The subjects and tasks that can be addressed by a Financial Expert depend on the particularities of each legal process; In some cases, his/her work may be limited to the presentation of a financial concept, while in others must perform calculations and estimates that allow quantifying or validating figures under discussion within the process. Some examples of what may be required of a Financial Expert are the determination of a loss, the clarification of a financial concept, the calculation of a commercial severance, the estimation of loss of income or earnings, among others.

In some instances, one of the parties has provided a financial expert-opinion, so another Financial Expert is requested to present his or her opinion said expert-opinion. In these cases, the report presented by Expert is called counter-opinion.

Additionally, a Financial Expert must comply with the legal requirements of the auxiliaries of justice, among them, not to be involved in any of the causes of article 50 of the General Code of Process, law 1564 of 2012, and that complies with the stipulated in article 219 of the Code of Administrative Procedure and Contentious  Administrative.

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