New services
Mediation of out-of-court disputes - Red loans
Real estate appraisals
Feasibility study
Mediation of out-of-court disputes - Red loans
ARCHECO ATEE is able to provide you with accredited mediation services with all the guarantees of the current legislation, trust and responsibility.
Mediation is assisted by a third person, the mediator, a negotiation between two or more parties with the aim of jointly finding a solution out of court, in order to avoid the time-consuming and costly process before the courts. That is, the parties are led by themselves, with the help of the mediator who is a specially trained and qualified person, to reach a decision to resolve their dispute, which, once signed, is absolutely binding on the parties and is enforceable according to the articles of the Policy Code Procedure for forced execution of decisions or in general enforceable documents.
All private law disputes can be submitted to mediation, as long as the parties have the authority to dispose of the subject matter of the dispute. There are cases where mediation is not possible and they require a court decision. However, many cases can be resolved out of court as their outcome depends on the free will of the parties and these are more than we imagine. Ask us, describe your case to us and we can advise you if it is amenable to mediation.
This system has been operating successfully for decades abroad and contributes not only to the smoother settlement of disputes, but also to the decongestion of court tables and, consequently, to the faster administration of justice, which at the moment is decisively affected by unbearable delays. Even if it was instituted late in our country and if we all give the institution a chance, we will find that the benefits are immeasurable for all participants. And we are not only referring to the obvious, the unloading of the courts and the shorter resolution of the dispute, but also the lower costs, the possibility of saving the relationship between the parties which with bloody legal battles is almost impossible, and finding a solution adapted to the needs of the parties in relation to the decision issued by a third person, the judge, and which often surprises the parties.
Trust the specially accredited mediators who aim to help you and try, with the assistance of your legal representative, to shed light on all aspects of the dispute and guide you to the best possible solution. Often, such a process takes time and the mediation process gives it, which is impossible in courtrooms.
Mediation is assisted by a third person, the mediator, a negotiation between two or more parties with the aim of jointly finding a solution out of court, in order to avoid the time-consuming and costly process before the courts. That is, the parties are led by themselves, with the help of the mediator who is a specially trained and qualified person, to reach a decision to resolve their dispute, which, once signed, is absolutely binding on the parties and is enforceable according to the articles of the Policy Code Procedure for forced execution of decisions or in general enforceable documents.
All private law disputes can be submitted to mediation, as long as the parties have the authority to dispose of the subject matter of the dispute. There are cases where mediation is not possible and they require a court decision. However, many cases can be resolved out of court as their outcome depends on the free will of the parties and these are more than we imagine. Ask us, describe your case to us and we can advise you if it is amenable to mediation.
This system has been operating successfully for decades abroad and contributes not only to the smoother settlement of disputes, but also to the decongestion of court tables and, consequently, to the faster administration of justice, which at the moment is decisively affected by unbearable delays. Even if it was instituted late in our country and if we all give the institution a chance, we will find that the benefits are immeasurable for all participants. And we are not only referring to the obvious, the unloading of the courts and the shorter resolution of the dispute, but also the lower costs, the possibility of saving the relationship between the parties which with bloody legal battles is almost impossible, and finding a solution adapted to the needs of the parties in relation to the decision issued by a third person, the judge, and which often surprises the parties.
Trust the specially accredited mediators who aim to help you and try, with the assistance of your legal representative, to shed light on all aspects of the dispute and guide you to the best possible solution. Often, such a process takes time and the mediation process gives it, which is impossible in courtrooms.
Real estate appraisals
ARCHECO ATEE is able to offer as a service the estimation of the commercial Value of a property.
With this service we provide a comprehensive financial assessment of the property value and includes the following:
The following are the necessary steps that must be followed for the correct assessment of a property:
In particular, the client must inform the appraiser of the object and purpose for which he is requesting the appraisal (e.g. pre-notification, usual commercial transaction, direct sale, financial / accounting statements, etc.) so that the latter can determine the nature of the information he will be looking for (ie rents, commercial values, returns etc.)
The appraiser must carry out a careful autopsy on the property in order to determine its characteristics, while at the same time he should check whether there is an identity between the submitted titles, approved architectural plans of the inspected property, identifying any differences. Also, the on-site autopsy should not be limited only to the context of the property, but also to an identification/analysis of the characteristics/prevailing conditions of the wider area where it is located.
In addition to the inspection, in terms of physical condition and characteristics of the property, there must be an investigation/check of elements, such as an adverse business lease, other encumbrances and claims, town planning designations, etc.
Depending on the nature of the property, but also the possibility or not of finding comparative data, taking into account the purpose of the assessment, the relevant method to be followed is determined.
This process is usually likened to a big funnel, i.e. initially the collection of data is extensive and then narrowed down, after rejecting the non-directly related elements.
At this stage, a complete clarification of the elements is made, while the degree of their correlation and the required adjustments, in relation to the property under evaluation, result from a list of characteristics that refer to the physical condition (degree of economic and functional obsolescence, age, construction materials, etc. ) the terms of the lease, the other characteristics such as size, frontage, etc. Please note that the comparative figures should usually refer to recent sales/leases in order to be valid. But there are cases, namely when the market appears stabilized (eg a period of 6-8 months), where the older data are just as appropriate (representing the current situation) as the more recent ones, as no change in prices is shown.
+ Specialized Appraisal of commercial Property Value
With this service we provide a comprehensive financial assessment of the property value and includes the following:
- Minimum property price.
- Average property price.
- Maximum price of the property both its real value and the value that can be sold or rented.
- Estimate for the area where the property is located.
- Collection of data and indicative values.
- Prices from sale or rent of similar properties in the area.
- Report by a qualified engineer.
- Written proposals to improve the value of the property
+ Real Estate Appraisal Procedure
The following are the necessary steps that must be followed for the correct assessment of a property:
+ Defining the purpose of the assessment
In particular, the client must inform the appraiser of the object and purpose for which he is requesting the appraisal (e.g. pre-notification, usual commercial transaction, direct sale, financial / accounting statements, etc.) so that the latter can determine the nature of the information he will be looking for (ie rents, commercial values, returns etc.)
+ Diligent Autopsy of Property and Area
The appraiser must carry out a careful autopsy on the property in order to determine its characteristics, while at the same time he should check whether there is an identity between the submitted titles, approved architectural plans of the inspected property, identifying any differences. Also, the on-site autopsy should not be limited only to the context of the property, but also to an identification/analysis of the characteristics/prevailing conditions of the wider area where it is located.
+ Investigation of the planning and legal status/commitments and other restrictions of the property
In addition to the inspection, in terms of physical condition and characteristics of the property, there must be an investigation/check of elements, such as an adverse business lease, other encumbrances and claims, town planning designations, etc.
+ Determination of the estimation method
Depending on the nature of the property, but also the possibility or not of finding comparative data, taking into account the purpose of the assessment, the relevant method to be followed is determined.
+ Data collection from the local market
This process is usually likened to a big funnel, i.e. initially the collection of data is extensive and then narrowed down, after rejecting the non-directly related elements.
+ Processing and determining the degree of correlation of the data with the property in question
At this stage, a complete clarification of the elements is made, while the degree of their correlation and the required adjustments, in relation to the property under evaluation, result from a list of characteristics that refer to the physical condition (degree of economic and functional obsolescence, age, construction materials, etc. ) the terms of the lease, the other characteristics such as size, frontage, etc. Please note that the comparative figures should usually refer to recent sales/leases in order to be valid. But there are cases, namely when the market appears stabilized (eg a period of 6-8 months), where the older data are just as appropriate (representing the current situation) as the more recent ones, as no change in prices is shown.
Feasibility study
ARCHECO ATEE is able to offer as a service the economic and technical study of a Tourist Company.
The main types of economic and technical studies are the following:
1. Business Plan and/or Company Profile.
It is done both for existing businesses and for start-ups, with the aim of:
+ Attracting investors / financiers
+ Planning the further course / development of the business.
2.Feasibility study
Based on the current state of the business, the data is extended for the next few years, with the aim of predicting (or documenting) the profitability and mainly its cash sufficiency in the immediate future. It is addressed to:
+ To the shareholders and management of the company itself, who want to know if the way the company is going, i.e. without significant changes, it will be able to cope financially in the coming years.
+ To its main creditors and partners (banks, suppliers, cooperating houses) in order to show them its sustainability. Of course, if the study doesn't show viability, or if it's extremely dubious, then we need something else, and that's the next kind of study.
3.Consolidation study
+ To the shareholders and the management of the company itself, which examines various scenarios for restructuring and rescuing the company.
+ To creditors to form the basis of negotiations for arrangements or even "haircuts".
+ To investors who would be interested in participating in the business
+To the competent authorities, in order for the company to obtain temporary protection from creditors (in the context of bankruptcy law) until it implements the proposed reorganization plan.
It is true that banks traditionally did not take risks, and therefore they usually asked for real collateral (mortgages, promissory notes, bank accounts, etc.) and guarantees from entrepreneurs with their personal property. Thus, until now the business plan that a company could present had a reduced value for them. That is to say, they operated with the exact opposite logic from the venture capitals.
However, things are changing rapidly and radically. This is because the above tactic has driven the banks into unsustainable NPLs (Non Performing Loans) and left them with huge foreclosed or foreclosed real estate, which they can no longer exploit due to the collapse of the real estate market. Thus, a strong trend is developing, not only for evaluating business plans, but also for much stricter monitoring of their execution. Especially for non-performing loans, where now the possibility of businesses to provide additional real collateral is zero, any regulation is now considered through the economic and technical study (viability and restructuring study), presented to them.
The answer, then, is that indeed banks are increasingly demanding business plans and similar studies in order to grant new loans or to proceed with the arrangements of old ones, in the context of which it is possible to grant additional loans for working capital that will help restarting companies. From now on, the monitoring of the execution of these plans will be increasingly close, which will ultimately help the general consolidation of our economy.
The main types of economic and technical studies are the following:
1. Business Plan and/or Company Profile.
It is done both for existing businesses and for start-ups, with the aim of:
+ Attracting investors / financiers
+ Planning the further course / development of the business.
2.Feasibility study
Based on the current state of the business, the data is extended for the next few years, with the aim of predicting (or documenting) the profitability and mainly its cash sufficiency in the immediate future. It is addressed to:
+ To the shareholders and management of the company itself, who want to know if the way the company is going, i.e. without significant changes, it will be able to cope financially in the coming years.
+ To its main creditors and partners (banks, suppliers, cooperating houses) in order to show them its sustainability. Of course, if the study doesn't show viability, or if it's extremely dubious, then we need something else, and that's the next kind of study.
3.Consolidation study
+ To the shareholders and the management of the company itself, which examines various scenarios for restructuring and rescuing the company.
+ To creditors to form the basis of negotiations for arrangements or even "haircuts".
+ To investors who would be interested in participating in the business
+To the competent authorities, in order for the company to obtain temporary protection from creditors (in the context of bankruptcy law) until it implements the proposed reorganization plan.
+ Do banks ask for an economic and technical study to give loans?
It is true that banks traditionally did not take risks, and therefore they usually asked for real collateral (mortgages, promissory notes, bank accounts, etc.) and guarantees from entrepreneurs with their personal property. Thus, until now the business plan that a company could present had a reduced value for them. That is to say, they operated with the exact opposite logic from the venture capitals.
However, things are changing rapidly and radically. This is because the above tactic has driven the banks into unsustainable NPLs (Non Performing Loans) and left them with huge foreclosed or foreclosed real estate, which they can no longer exploit due to the collapse of the real estate market. Thus, a strong trend is developing, not only for evaluating business plans, but also for much stricter monitoring of their execution. Especially for non-performing loans, where now the possibility of businesses to provide additional real collateral is zero, any regulation is now considered through the economic and technical study (viability and restructuring study), presented to them.
The answer, then, is that indeed banks are increasingly demanding business plans and similar studies in order to grant new loans or to proceed with the arrangements of old ones, in the context of which it is possible to grant additional loans for working capital that will help restarting companies. From now on, the monitoring of the execution of these plans will be increasingly close, which will ultimately help the general consolidation of our economy.