Date posted: 19/07/2017 2 min read

Cessation of President Nominations

Chartered Accountants Australia and New Zealand (Chartered Accountants ANZ) ceased providing an independent expert nomination service to resolve contractual disputes in 2015

In Brief

  • If you are a party to a commercial contract where Chartered Accountants ANZ (or ICAA or NZICA) has been named in relation to the nomination of an independent expert this clause may no longer operate as intended
  • We recommend you review any contracts to see whether this issue may arise and seek appropriate advice on your options.

Chartered Accountants Australia and New Zealand (Chartered Accountants ANZ)  ceased providing an independent expert nomination service to resolve contractual disputes in 2015 – this service was previously referred to as President Nominations.  It has come to our attention that some contracts still contain dispute resolution clauses referring to appointment of an independent expert by the President of Chartered Accountants ANZ in instances where parties cannot agree upon an independent expert to resolve the dispute and/or provide valuation services

If you are a party to a commercial contract where Chartered Accountants ANZ (or ICAA or NZICA) has been named in relation to the nomination of an independent expert this clause may no longer operate as intended.  This may result in this dispute clauses being unenforceable and leaving the disputing parties without an agreed approach to appoint an independent expert.

We recommend you review any contracts to see whether this issue may arise and seek appropriate advice on your options.

There are a number of bodies that offer expert determination services.  Your local law society may be able to offer guidance or recommendations in this area.  The following bodies also offer expert determination services:

You can also access our ‘Find a CA’ function which can be used to locate certain Chartered Accountants ANZ members recognised as specialists in areas such as business valuations. This database only includes Chartered Accountants who have elected to be part of this service. Any engagement that you may form with a Chartered Accountant is a direct arrangement between you or your client and the chosen specialist.  Chartered Accountants ANZ is not liable for any advice given.  It is your responsibility to ensure that these members meet your specific needs.

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You find a Chartered Accountants using this tool.

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