A note to the parties (note aux parties, or dires à expert) comprises the written submissions that each party to a judicial or arbitral expert mandate may address to the appointed expert — presenting technical arguments, challenging preliminary methodology or conclusions, and submitting additional supporting documents. Consistent with the adversarial principle, the expert is required to respond to each submission in the final report, either accepting the arguments or explaining why they are rejected. In financial valuation disputes, submissions typically address WACC construction, comparable selection, normalisation choices and the defensibility of applied methodologies.

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Example: in a judicial valuation expert mandate covering a Franco-Swiss holding company, the expert proposes a WACC of 11.5%. Through a note to the parties, the seller's counsel submits a sector study justifying 9.8% — a change that would increase the DCF value by CHF 3.2 million. The expert examines the submission, partially accepts the argument and adjusts to 10.8% — documenting the reasoning in the final report submitted to the court.

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Hectelion prepares and analyses notes to the parties in judicial and arbitral valuation proceedings, defending or challenging expert conclusions with rigorous technical arguments.