What are the most significant cases or transactions that your legal team has recently been involved in?

Financing transactions

We negotiated several bilateral and syndicated international loans. The company also issued bonds on the local market. The legal department participated in these issues, coordinating the activities, drafting the documentation, and preparing the report to the Financial Market Commission.

Commercial agreements with car brands

FORUM successfully renovated the current commercial agreements with some of the most important car brands to become their preferred financial partner. The legal department successfully carried out the negotiations with PEUGEOT – Stellantis, Inchcape, BMW, and FORD, among others. Recently we finalised negotiations to become financial partners with OMODA and JAECOO (Chery Group).

Data Protection Project

Applying the highest standards on data protection, we reviewed – in coordination with all the departments of the company – the internal processes to secure the protection of our customer´s data and we adjusted the internal regulation. The Chilean Parliament is discussing a new data protection act, following the European standard on the matter. Therefore, it has been an important task to elevate our standards on the protection of the data of our employees and our customer’s data. We have regulated the rights of access, rectification, deletion, processing, and portability. FORUM has the highest standards in our industry and is ready to face the new obligations should the data protection regulation becomes law.

E-signature for contracts

Since 2023, our clients can sign the loan contracts digitally on our web platform. FORUM has been a pioneer in digitalising this process. The Legal department carried out analysis on the validity of this form of consent under the Chilean law. We supervised and provided opinion on the implementation of digital signature. This project implied changes on several processes internally and with third parties.

Artificial Intelligence

In 2023, we implemented the use of a new software to issue customers due diligence reports. This has allowed members of the department to free time to focus on more strategic tasks that prepare our department for future challenges.

How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?

We take responsibility for the fulfilment of FORUM’s objectives as if they are our own, do everything possible to achieve them. Thus, we choose counsel who understand our values of integrity, and respect for people.

All our external advisors are subject to a detailed review of their ethical and professional standards. We carry out a due diligence prior to their on-board and the research includes analysis of their sustainability standards, the fulfilment of their legal duties, financial records, the existence of internal policies on equality and their prestige. We discuss their fulfilment of several standards that are relevant to us, and we ask them to show their advances on those policies.

At FORUM, we innovate and test new ideas that help us learn. Creative strategies and innovative ideas are a key factor to keep on working with a firm. Since we set ambitious and aspirational goals to have a real impact on our business, it is necessary to work with innovative and creative lawyers.

It is very important to choose firms that are committed to our goals. The permanent interaction with our legal department allows our team to exchange best practices with external advisors. We want them to feel fully responsible for achieving our goals; we encourage them to evaluate and permanently re-evaluate their achievements on social responsibility issues.

Gender equality, the narrowing of gender pay gap, equal opportunities, diversity, hard work, innovation, quality of life and commitment to the society are values that we consider of the utmost importance. We genuinely believe that accountability on these issues can make a difference and set an example within the legal profession. Incorporating these issues can boost changes and break barriers to a fairer society. Since we share common values with our external counsel, we work with those Firms as one team; they feel that they are part of FORUM.