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Rules of Arbitration
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Section I: General Provisions
Section II: The Arbitral Tribunal
Section III: Arbitral Proceedings
Section IV: The Award
Section V: The Costs
Appendix A – Registration Fee and Administrative
Costs
Appendix B – Arbitrator's Fees
Article 1. Scope of Application
1.1. Where the parties have agreed in writing
that their disputes shall be referred to arbitration under the Rules of Arbitration
of the Tehran Regional Arbitration Centre (hereinafter referred to as the Rules),
then such disputes shall be settled in accordance with the Rules, subject to such
modification as the parties may agree in writing. Reference made to arbitration
by the Tehran Regional Arbitration Centre (hereinafter the Centre) shall be deemed
as an agreement by the parties to submit to the Rules.
1.2. The Rules shall govern the arbitration. In
the event that any of the Rules is in conflict with a provision of the law applicable
to the arbitration from which the parties cannot derogate, that provision shall
prevail.
Article 2. Assistance by the Centre
2.1. The Centre shall provide necessary assistance
to the parties for the arbitration pursuant to the Rules.
2.2. The Centre shall perform its duties in conformity
with the Internal Regulations, which form an integral part of the Rules.
Article 3. Place of Arbitration
3.1. Unless otherwise agreed by the parties, the
place of arbitration shall be Tehran.
3.2. (a) The arbitration shall take place and
the parties shall be heard at the place of arbitration.
(b) The Arbitral Tribunal may however meet at any place it deems appropriate for
consultation between the arbitrators, for the inspection of goods, property or documents,
as well as for hearing witnesses, in the event that such hearing at the place of
arbitration is not practicable.
3.3. Sufficient advance notice shall be given
to the parties to enable them to be present at the inspection or witness hearing.
3.4. The Award shall be deemed to have been made
at the place of arbitration.
Article 4. Confidentiality
The arbitration conducted under the Rules is confidential. The parties, including
counsel and experts appointed by them, the arbitrators, the Arbitral Tribunal’s
appointed experts and secretaries, as well as the Centre, undertake not to disclose
to third parties any documents, facts or other information relating to the dispute
or the arbitration proceedings. They shall refrain from publishing or causing others
to publish the Award, unless the parties to the arbitration agree to such publication.
Article 5. Notice, Calculation of Periods of Time
5.1. For the purposes of the Rules, any notice,
including a notification, communication or proposal, is deemed to have been received
if it is physically delivered to the addressee or if it is delivered at his habitual
residence, place of business or mailing address, or, if none of these can be found
after making reasonable inquiry, at the addressee’s last-known residence or place
of business. Notice shall be deemed to have been received on the day it is so delivered.
5.2. For the purposes of calculating a period
of time under the Rules, such period shall begin to run on the day following the
day when a notice, notification, communication or proposal is received. If the last
day of such period is an official holiday or a non-business day at the residence
or place of business of the addressee, the period is extended until the first business
day that follows. Official holidays or non-business days occurring during the running
of the period of time are included in calculating the period.
Article 6. Request for Arbitration
6.1. The party wishing to initiate arbitration
under the Rules shall deliver its Request for Arbitration to the Centre.
6.2. The arbitration proceedings shall be deemed
to commence on the date on which the Centre receives the Request for Arbitration.
6.3. The Request for Arbitration shall be submitted
in as many copies as there are other parties, together with an additional copy for
each arbitrator and one copy for the Centre, and shall include the following:
(a) A demand that a dispute be referred to arbitration;
(b) The full names and addresses, telephone and fax numbers and e-mail addresses
of the parties;
(c) A reference to the arbitration clause or the separate arbitration agreement
that is invoked;
(d) A copy of the contract or the document out of, or in relation to, which the
dispute arises;
(e) The general nature of the claim and an indication of the amount involved, if
any;
(f) The relief or remedy sought;
(g) A proposal as to the number of arbitrators (i.e. one or three), if the parties
have not previously agreed thereon;
(h) The notification of the appointment of an arbitrator referred to in Article
9.1 (a) and a copy of the letter whereby he accepts to act as arbitrator, when the
parties have previously agreed that three arbitrators shall be appointed;
(i) Proof of payment of the Registration Fee.
6.4. The Request for Arbitration may also include:
(a) The proposal for the appointment of a sole arbitrator;
(b) The Statement of Claim referred to in Article 15.
6.5. If the Request for Arbitration is incomplete,
or if the copies or attachments thereof are not submitted in the required number,
or if the Registration Fee is not paid, the Centre will request the Claimant to
remedy the defects within an appropriate period of time fixed by it. The Centre
may also request within such time limit a translation of the Request for Arbitration
if it is not submitted in English. If the Claimant complies with such directions
within the time limit, the Request for Arbitration shall be deemed to have been
validly filed on the date when the Request for Arbitration was received by the Centre.
6.6. The Centre shall provide without delay a
copy of the Request for Arbitration and of any exhibits included therein to the
Respondent.
Article 7. Representation and Assistance
Each party may be represented or assisted by one or more persons of his choice.
The names and addresses of such person or persons must be communicated in writing
to the Centre and the other party; such communication must specify whether the appointment
is being made for purposes of representation or assistance.
Section II: The Arbitral Tribunal
Article 8. Number of Arbitrators
If the parties have not previously agreed on the number of arbitrators, and if,
within fifteen (15) days after the receipt by the Respondent of the Request for
Arbitration, the parties have not agreed that there shall be only one arbitrator,
or the Centre has not determined that the nature of the dispute requires the appointment
of a sole arbitrator, three arbitrators shall be appointed.
Article 9. Procedure for Appointing Arbitrators
9.1. Unless otherwise agreed by the parties, the
procedure for appointment of the arbitrators shall be as follows:
(a) In an arbitration with three arbitrators, the Claimant and the Respondent shall
each appoint one arbitrator and the two arbitrators thus appointed shall appoint
the President. If the Respondent fails to appoint an arbitrator and secure his acceptance
within thirty (30) days from receipt of the Request for Arbitration, or if, in the
absence of a previous agreement on the number of arbitrators, the parties do not
agree within fifteen (15) days from the receipt of the Request for Arbitration by
the Respondent that there shall be only one arbitrator, and a party fails to appoint
an arbitrator and secure his acceptance within thirty (30) days from that date,
or if the appointed arbitrators fail to agree on the appointment of the President
and secure his acceptance within thirty (30) days after their date of appointment,
the arbitrator of the defaulting party or the President, as the case may be, shall
be appointed by the Centre.
(b) In an arbitration with a sole arbitrator, the parties shall appoint the sole
arbitrator by mutual consent, within thirty (30) days from the receipt of the Request
for Arbitration by the Respondent or from the date on which the parties have agreed
or the Centre has determined that a sole arbitrator shall be appointed. If the parties
fail to agree, the sole arbitrator shall be appointed by the Centre.
9.2. Where, under an appointment procedure agreed
upon by the parties, a party fails to act as required, or the parties or their appointed
arbitrators are unable to reach an agreement under such procedure, or a third party,
whether a natural or judicial person, fails to perform any function entrusted to
it under such procedure, any party may request the Centre to make that appointment,
unless another procedure has been agreed upon by the parties.
9.3. When appointing arbitrators, the Centre shall
have due regard to the qualifications required from the arbitrators in conformity
with the agreement of the parties and shall seek to secure the independence and
impartiality of the arbitrator. In any event, the President shall be appointed from
amongst nationals of a third country and the arbitrator of the defaulting party
shall not be appointed from amongst nationals of the country of the other party.
9.4. Where the parties have undertaken, in the
arbitration agreement, that in case a dispute arises, a certain person or persons
shall arbitrate and such person or persons are unwilling or unable to act as arbitrators,
the Centre may appoint substitute arbitrator(s) at the request of either party within
thirty (30) days from the notification of the first request.
9.5. Unless otherwise agreed by the parties, in
cases where the arbitration comprises more than two parties and the dispute is not
to be referred to a sole arbitrator, the arbitrators shall be appointed as follows:
(a) The Claimant shall appoint one arbitrator; and where there is more than one
Claimant, they shall jointly appoint one arbitrator. The arbitrator of the Respondent
or Respondents shall also be appointed in the same manner.
(b) If the Claimants or Respondents do not reach agreement on their respective arbitrators,
the arbitrator for either one of the parties shall be appointed by the Centre.
(c) The president shall be appointed by the two arbitrators and in case they do
not reach agreement, the president shall be appointed by the Centre.
(d) Other matters concerning multi-party arbitrations, including challenge and default,
shall be subject to the rules established for bipartite arbitrations.
Article 10. Independence and Challenge of Arbitrators
10.1. A prospective arbitrator shall disclose
to those who approach him in connection with his possible appointment any circumstances
likely to give rise to justifiable doubts as to his impartiality or independence.
An arbitrator, once appointed or chosen, shall disclose such circumstances to the
parties and to the Centre.All arbitrators conducting an arbitration under the Rules
shall remain at all times impartial and independent of the parties.
10.2. Any arbitrator may be challenged if circumstances
exist that give rise to justifiable doubts as to the arbitrator’s impartiality or
independence.
10.3. A party may challenge the arbitrator appointed
by him only for reasons of which he becomes aware after the appointment has been
made.
10.4. A party who intends to challenge an arbitrator
shall send notice of his challenge to the Centre within thirty (30) days after receiving
notice of the appointment of the said arbitrator or within thirty (30) days after
the circumstances mentioned in Articles 10.2 and 10.3 become known to that party.
A copy of the said notice shall be sent to the other party, to the arbitrator who
is challenged and to the other members of the Arbitral Tribunal.
10.5. The notification shall be in writing and
shall state the reasons for the challenge.
10.6. When an arbitrator has been challenged by
one party, the other party may agree to the challenge. The arbitrator may also,
after the challenge, withdraw from his office. In neither case does this imply acceptance
of the validity of the grounds for the challenge. In both cases the procedure provided
in Article 9 shall be used in full for the appointment of the substitute arbitrator,
even if during the process of appointing the challenged arbitrator a party had failed
to exercise his right to appoint or to participate in the appointment.
10.7. If, within fifteen (15) days from the receipt
of the notification of challenge, the other party does not agree to the challenge
and the challenged arbitrator does not withdraw, the decision on the challenge shall
be made by the Centre.
10.8. If the Centre sustains the challenge, a
substitute arbitrator shall be appointed or chosen pursuant to the procedure provided
for in Article 9 that was applicable to the appointment or choice of the arbitrator
being challenged.
Article 11. Replacement of an Arbitrator
11.1. In the event of death or resignation of
an arbitrator during the course of the arbitration proceedings, a substitute arbitrator
shall be appointed or chosen pursuant to the procedure provided for in Article 9
that was applicable to the appointment or choice of the arbitrator being replaced.
11.2. In the event that an arbitrator fails to
act or in the event of the de jure or de facto impossibility of his performing his
functions, the procedure in respect of the challenge and replacement of an arbitrator
as provided in the preceding Articles shall apply.
Articleg12. Repetition of Hearings in the Event of the Replacement
of an Arbitrator
If under Articles 10 and 11, the sole or presiding arbitrator is replaced, any hearings
held previously with respect to matters that have not been already decided in a
final decision shall be repeated, unless the parties agree otherwise; if any other
arbitrator is replaced, such prior hearings may be repeated at the discretion of
the Arbitral Tribunal.
Section III: Arbitral Proceedings
Article 13. General Provisions
13.1. Subject to the Rules, the Arbitral Tribunal
may conduct the arbitration in such manner as it considers appropriate, provided
that the parties are treated with equality and that at any stage of the proceedings
each party is given a full opportunity of presenting his case.
13.2. If either party so requests at any stage
of the proceedings, the Arbitral Tribunal shall hold hearings for the presentation
of evidence by witnesses, including expert witnesses, or for oral argument. In the
absence of such a request, the Arbitral Tribunal shall decide whether to hold such
hearings or whether the proceedings shall be conducted on the basis of documents
and other materials.
13.3. At an early stage of the arbitration proceedings
and in consultation with the parties, the Arbitral Tribunal shall prepare a provisional
timetable for the arbitration proceedings, which shall be provided to the parties
and to the Centre.
13.4. All documents or information submitted to
the Arbitral Tribunal by one party shall at the same time be communicated by that
party to the other party and to the Centre.
Article 14. Language
14.1. Subject to an agreement by the parties,
the Arbitral Tribunal shall, promptly after its constitution, determine the language
or languages to be used in the proceedings. This determination shall apply to the
Statement of Claim, the Statement of Defence, any further written statements, and
hearings, if any.
14.2. The Arbitral Tribunal may order that any
documents annexed to the Statement of Claim or Statement of Defence, and any supplementary
documents or exhibits submitted in the course of the proceedings, delivered in their
original language, shall be accompanied by a translation into the language or languages
agreed upon by the parties or determined by the Arbitral Tribunal.
Article 15. Statement of Claim
15.1. Unless the Statement of Claim was contained
in the Request for Arbitration, within a period of time to be determined by the
Arbitral Tribunal, the Claimant shall communicate his Statement of Claim in writing
to the Respondent, each of the arbitrators and to the Centre. A copy of the contract
and of the arbitration agreement, if not contained in the contract, shall be annexed
thereto.
15.2. The Statement of Claim shall include the
following particulars:
(a) The names and addresses of the parties;
(b) A statement of the facts supporting the claim;
(c) The points at issue;
(d) The relief or remedy sought.
15.3. The Claimant may annex to his Statement
of Claim all documents he deems relevant or may add a reference to the documents
or other evidence he will submit.
Article 16. Statement of Defence
16.1. Within a period of time to be determined
by the Arbitral Tribunal, the Respondent shall communicate his Statement of Defence
in writing to the Claimant, to each of the arbitrators and to the Centre.
16.2. The Statement of Defence shall reply to
the particulars (b), (c) and (d) of the Statement of Claim referred to in Article
15, paragraph 2, and to the evidence. The Respondent may annex to his Statement
all documents on which he relies for his defence or may add a reference to the documents
or other evidence he will submit.
16.3. In his Statement of Defence, or at a later
stage in the arbitration proceedings, if the Arbitral Tribunal decides that the
delay was justified under the circumstances, the Respondent may make a counter-claim
arising out of the same contract or rely on a claim arising out of the same contract
for the purpose of a set-off.
16.4. The provisions of Article 15, paragraph
2, shall apply to a counter-claim and a claim relied on for the purpose of a set-off.
16.5. If the Respondent has raised an objection
to the jurisdiction or to the proper constitution of the Arbitral Tribunal, the
Statement of Defence shall contain the factual and legal bases of such objection.
Article 17. Amendments to the Claim or Defence
17.1 During the course of the arbitration proceedings
either party may amend or supplement his claim or defence unless the Arbitral Tribunal
considers it inappropriate to allow such amendment having regard to the delay in
making it or the prejudice to the other party. However, a claim, counter-claim or
defence may not be amended in such a manner that it falls outside the scope of the
arbitration clause or the separate arbitration agreement.
17.2 The Arbitral Tribunal may adjust the costs
of the arbitration if a party amends or supplements his claims, counter-claims or
defences.
Article 18. Pleas as to the Jurisdiction of the Arbitral
Tribunal
18.1 . The Arbitral Tribunal shall have the power
to rule on objections regarding its lack of jurisdiction, including any objections
with respect to the existence or validity of the arbitration clause or of the separate
arbitration agreement.
18.2. The Arbitral Tribunal shall have the power
to determine the existence or the validity of the contract of which an arbitration
clause forms a part. For the purposes of this Article, an arbitration clause which
forms part of a contract and which provides for arbitration under the Rules shall
be treated as an agreement independent of the other terms of the contract. A decision
by the Arbitral Tribunal that the contract is null and void shall not entail ipso
jure the invalidity of the arbitration clause.
18.3. A plea that the Arbitral Tribunal does not
have jurisdiction shall be raised not later than in the Statement of Defence or,
with respect to a counter-claim, in the reply to the counter-claim.
18.4. Unless otherwise agreed by the parties,
the Arbitral Tribunal shall, in general, rule on a plea concerning its jurisdiction
in an Interim Award.
Article 19. Further Written Statements
The Arbitral Tribunal shall decide which further written statements, in addition
to the Statement of Claim and the Statement of Defence, shall be required from the
parties or may be presented by them and shall fix the periods of time for communicating
such statements.
Article 20. Periods of Time
The periods of time fixed by the Arbitral Tribunal for the communication of written
statements, including the Statement of Claim and Statement of Defence, should in
general not exceed forty-five (45) days, unless longer periods of time are considered
justified by the Arbitral Tribunal under the circumstances of the case and, in particular,
the complexity of issues involved.
Article 21. Evidence
21.1. Each party shall have the burden of proving
the facts relied on to support his claim or defence.
21.2. The Arbitral Tribunal may, if it considers
it appropriate, require a party to deliver to the Tribunal and to the other party,
within such a period of time as the Arbitral Tribunal shall decide, a summary of
the documents and other evidence which that party intends to present in support
of the facts at issue set out in his Statement of Claim or Statement of Defence.
21.3. At any time during the arbitration proceedings,
the Arbitral Tribunal may require the parties to produce documents, exhibits or
other evidence within such a period of time as the Tribunal shall determine.
Article 22. Hearings
22.1. The Arbitral Tribunal may decide the case
solely on the basis of documents submitted by the parties, unless any of the parties
requests a hearing.
22.2. In the event of a hearing, the Arbitral
Tribunal shall give the parties adequate advance notice of the date, time and place
thereof.
22.3. If witnesses are to be heard, at least fifteen
(15) days before the hearing each party shall communicate to the Arbitral Tribunal
and to the other party the names and addresses of the witnesses or expert witnesses
he intends to present, the subject upon and the languages in which such witnesses
will give their testimony.
22.4. The Arbitral Tribunal shall make arrangements
for the translation of oral statements made at a hearing and for a record of the
hearing if either is deemed necessary by the Tribunal under the circumstances of
the case, or if the parties have agreed thereto and have communicated such agreement
to the Tribunal at least fifteen (15) days before the hearing.
22.5. Hearings shall be held in camera unless
the parties agree otherwise. The Arbitral Tribunal may require the retirement of
any witness or witnesses during the testimony of other witnesses. The Arbitral Tribunal
shall be free to determine the manner in which witnesses are examined.
22.6. Evidence may also be presented in the form
of written statements signed by witnesses. Each witness who has submitted a written
statement shall appear for testimony at a hearing, unless the parties agree otherwise.
If a witness who has submitted a written statement does not appear at a hearing
for testimony without a valid reason, the Arbitral Tribunal shall disregard that
written statement unless, in exceptional circumstances, the Arbitral Tribunal determines
otherwise.
22.7. The Arbitral Tribunal shall determine the
admissibility, relevance, materiality and weight of the evidence offered.
Article 23. Interim Measures of Protection
23.1. At the request of either party, the Arbitral
Tribunal may order any interim measures it deems necessary or appropriate in respect
of the subject-matter of the dispute, including measures for the conservation of
the goods forming the subject-matter in dispute, such as ordering their deposit
with a third person or the sale of perishable goods.
23.2. Such interim measures may be established
in the form of an Interim Award. The Arbitral Tribunal shall be entitled to require
the provision of security for costs from the party requesting such measures.
23.3. A request for interim measures addressed
by any party to a judicial authority shall not be deemed incompatible with the agreement
to arbitrate, or as a waiver of that agreement.
Article 24. Experts
24.1. The Arbitral Tribunal, after consulting
with the parties, may appoint one or more experts to report to it, in writing, on
specific issues to be determined by the Tribunal. A copy of the expert's terms of
reference, established by the Arbitral Tribunal, shall be communicated to the parties
and to the Centre.
24.2. The parties shall give the expert any relevant
information or produce for his inspection any relevant documents or goods that he
may require of them. Any controversy between a party and the expert as to the relevance
of the required information or production shall be referred to the Arbitral Tribunal
for decision. The expert shall invite a representative of each party to attend any
site inspection, and, when the arbitral tribunal so determines, a representative
of each party shall be invited to attend other inspections made by the expert.
24.3. Upon receipt of the expert’s report, the
Arbitral Tribunal shall communicate a copy of the report to the parties who shall
be given the opportunity to express, in writing, their opinion on the report. A
party shall be entitled to examine any document on which the expert has relied in
his report.
24.4. At the request of either party, the expert,
after delivery of the report, may be heard at a hearing where the parties shall
have the opportunity to be present and to interrogate the expert. At this hearing,
either party may present expert witnesses in order to testify on the points at issue.
The provisions of Article 22 shall be applicable to such proceedings.
Article 25. Default
25.1. If, within the period of the time fixed
by the Arbitral Tribunal, the Claimant has failed to communicate his claim without
showing sufficient cause for such failure, the Arbitral Tribunal shall issue an
order for termination of the arbitration proceedings. If, within the period of time
fixed by the Arbitral Tribunal, the Respondent has failed to communicate his Statement
of Defence without showing sufficient cause for such failure, the Arbitral Tribunal
shall order that the proceedings continue.
25.2. The provisions of Article 25.1 shall apply
mutatis mutandis to the Statement of Counterclaim and Defence to the Counterclaim.
25.3. If one of the parties, duly notified under
the Rules, fails to appear at a hearing without showing sufficient cause for such
failure, the Arbitral Tribunal may proceed with the arbitration.
25.4. If one of the parties, duly invited to produce
documentary evidence, fails to do so within the established period of time, without
showing sufficient cause for such failure, the Arbitral Tribunal shall take note
of this failure in making the Award.
Article 26. Closure of Proceedings
26.1. When it is satisfied that the parties have
had a reasonable opportunity to present their case, the Arbitral Tribunal shall
declare the proceedings closed.
26.2. The Arbitral Tribunal may, if it considers
it necessary owing to exceptional circumstances, decide, on its own motion or upon
application of a party, to reopen the proceedings at any time before the Award is
made.
Article 27. Waiver of Rules
A party who knows that any provision of, or requirement under, the Rules has not
been complied with and yet proceeds with the arbitration without promptly stating
his objection to such non-compliance, shall be deemed to have waived his right to
object.
Section IV: The Award
Article 28. Decisions
28.1. When there are three arbitrators, any Award
or other decision of the Arbitral Tribunal shall be made by a majority of the arbitrators.
28.2. In the case of questions of procedure, when
there is no majority or when the Arbitral Tribunal so authorizes, the presiding
arbitrator may decide on his own, subject to revision, if any, by the Arbitral Tribunal.
Article 29. Form , Effect, and Notification of the Award
29.1. In addition to making a Final Award, the
Arbitral Tribunal shall be entitled to make Interim or Partial Awards.
29.2. The Award shall be made in writing and shall
be final and binding on the parties. The parties undertake to carry out the Award
in good faith and without delay. By submitting the dispute to arbitration under
the Rules, the parties shall be deemed to have waived their right to any form of
recourse insofar as such waiver can validly be made.
29.3. The Arbitral Tribunal shall state the reasons
upon which the Award is based, unless the parties have agreed that no reasons are
to be given. Any arbitrator may request that his dissenting vote or his dissenting
vote and the reasons therefore be recorded.
29.4. The Arbitral Tribunal shall in any event
make every effort to make sure that the Award is enforceable at law.
29.5. Before signing the Award, the Arbitral Tribunal
shall submit the draft Award to the Centre for review as to the form and for consultation
on the decision as to the assessment of the costs. The Centre may, where necessary,
lay down modifications as to the form of the Award and, without affecting the Arbitral
Tribunal’s liberty of decision, may also draw its attention to points of substance.
29.6. The Award shall be signed by the arbitrators
and shall contain the date and place where the Award is deemed to have been made.
Where there are three arbitrators and one of them fails to sign, the Award shall
state the reasons for this absence of the signature.
29.7. Once an Award has been made, the Centre
shall notify to the parties the text signed by the Arbitral Tribunal, provided always
that the costs of the arbitration have been fully paid to the Centre by the parties
or by one of them. Additional certified copies shall be made available by the Centre
on request, solely to the parties. An original of each Award made in accordance
with the Rules shall be deposited with the Centre.
29.8. The Award may be made public only with the
consent of both parties.
29.9. The Centre shall assist the parties in complying
with further legal or administrative formalities that may be necessary.
Article 30. Applicable Law, Amiable Compositeur
30.1. The Arbitral Tribunal shall decide the case
in accordance with the rules of law designated by the parties as applicable to the
substance of the dispute. Failing such designation by the parties, the Arbitral
Tribunal shall apply the law determined by the conflict of laws rules that it considers
applicable.
30.2. The Arbitral Tribunal shall decide as amiable
compositeur or ex aequo et bono only if the parties have expressly authorized the
Arbitral Tribunal to do so and if the law applicable to the arbitration proceedings
permits such arbitration.
30.3. In all cases, the Arbitral Tribunal shall
decide the case in accordance with the terms of the contract, taking into account
the trade usages applicable to the transaction.
Article 31. Settlement or Other Grounds for Termination
31.1. If, before the Award is made, the parties
agree to settle the dispute, the Arbitral Tribunal shall either issue an order for
the termination of the arbitration proceedings or, if requested by both parties,
record the settlement in the form of an Award on Agreed Terms. The Arbitral Tribunal
is not obliged to give reasons for such an Award.
31.2. If, before the Award is made, the continuation
of the arbitration proceedings becomes unnecessary or impossible for any reason
not mentioned in paragraph 1 of this Article, the Arbitral Tribunal shall, after
consultation with the Centre, inform the parties of its intention to issue an order
for the termination of the proceedings. The Arbitral Tribunal shall have the power
to issue such an order unless a party raises justifiable grounds for objection.
31.3. Copies of the order for termination of the
arbitration proceedings, or of the Award on Agreed Terms, signed by the arbitrators,
shall be communicated by the Arbitral Tribunal to the parties. In both instances
the provisions of Article 29, paragraphs 2 and 4 to 9, shall apply.
Article 32. Interpretation of the Award
32.1. Within thirty (30) days after the receipt
of the Award, either party, with notice to the other party, may request that the
Arbitral Tribunal give an interpretation of the Award.
32.2. The interpretation shall be given in writing
within forty-five (45) days after the receipt of the request. The interpretation
shall form part of the Award and the provisions of Article 29, paragraphs 2 to 9,
shall apply.
Article 33. Correction of the Award
33.1. Within thirty (30) days after the receipt
of the Award, either party, with notice to the other party, may request the Arbitral
Tribunal to correct in the Award any errors in computation, any clerical or typographical
errors, or any errors of similar nature. The Arbitral Tribunal may within thirty
(30) days after the communication of the Award make such corrections on its own
initiative.
33.2. Such corrections shall be in writing, and
the provisions of Article 29, paragraphs 2 to 9, shall apply.
Article 34. Additional Award
34.1. Within thirty (30) days after the receipt
of the Award, either party, with notice to the other party, may request the Arbitral
Tribunal to make an Additional Award as to the claims presented in the arbitration
proceedings but omitted from the Award.
34.2. If the Arbitral Tribunal considers the request
for an Additional Award to be justified and considers that the omission can be rectified
without any further hearings or evidence, it shall complete its Award within sixty
(60) days after the receipt of the request.
34.3. When an Additional Award is made, the provisions
of Article 29, paragraphs 2 to 9, shall apply.
Section V: The Costs
Article 35. Decision as to Costs of Arbitration
35.1. The Award shall, in addition to dealing
with the merits of the case, fix the costs of arbitration and decide which of the
parties shall bear the costs or in what proportions the costs shall be borne by
the parties.
35.2. The costs of arbitration shall in principle
be borne by the unsuccessful party. However, the Arbitral Tribunal may apportion
such costs between the parties if it determines that apportionment is reasonable,
taking into account the circumstances of the case.
35.3. The costs of the arbitration shall include
the arbitrators’ fees and the administrative costs fixed by the Centre in accordance
with Appendices A and B of the Rules, the expenses, if any, of the arbitrators,
the fees and expenses of any experts, and the reasonable legal costs incurred by
the parties.
35.4. The Centre may fix the arbitrators’ fees
at a figure higher or lower than that which would result from the application of
the attached Appendix B, if it may be justified by the exceptional circumstances
of the case.
35.5. When the Arbitral Tribunal issues an order
for the termination of the arbitration proceedings or makes an Award on Agreed Terms,
it shall fix the costs of arbitration referred to in Article 35, paragraph 1, in
the text of that order or Award.
35.6. No additional fees may be charged by the
Centre or the Arbitral Tribunal for interpretation or correction or completion of
its Award under Articles 32 to 34.
Article 36. Deposit of Costs
36.1. The Centre may request each party to deposit
an equal amount as an advance for the costs referred to in Article 35, paragraph
3, before the establishment of the Arbitral Tribunal.
36.2. Where, apart from the claims, counter-claims
are submitted, the Centre may, at the request of either of the parties, fix separate
advances on cost for the claims and counterclaims.
36.3. During the course of the arbitration proceedings,
the Centre may request supplementary deposits from the parties.
36.4. If the required deposits are not paid in
full within thirty (30) days after the receipt of the request, the Centre shall
so inform the parties in order that one or another of them may make the required
payment. If the payment is not made, the Centre may order the suspension or termination
of the arbitration proceedings with respect to the claims and/or counter-claims,
as the case may be.
36.5. Where one of the parties claims a right
to a set-off with regard to either claims or counter-claims, the Centre shall take
such set-off into account in determining the advance to cover the costs of arbitration
in the same way as a separate claim insofar as it may require the Arbitral Tribunal
to consider additional matters.
36.6. After the Award has been made, the Centre
shall render an accounting to the parties of the deposits received and return the
unexpended balance, if any, to the parties.
Appendix A – Registration Fee and Administrative Costs
1. Registration Fee: Euros 500.00
2. Administrative Costs
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Amount in Dispute (in Euro) |
Up to 50,000
From 50,001 up to 100,000
From 100,001 up to 500,000
From 500,001 up to 1,000,000
From 1,000,001 up to 2,000,000
From 2,000,001 up to 5,000,000
More than 5,000,000
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3 % with a minimum of Euros 500
1,500 + 2% of excess over 50,000
2,500 + 1 % of excess over 100,000
6,500 + 0.80% of excess over 500,000
10,500 + 0.40% of excess over 1,000,000
14,500 + 0.15% of excess over 2,000,000
19,000 + 0.10% of excess over 5,000,000
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Up to a limit of Euros 60,000. |
Appendix B –Arbitrator's Fees
Schedules of fees for one arbitrator
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Amount in Dispute in Euros |
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Minimum |
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Maximum |
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Up to 50,000
From 50,000 to 100,000
From 100,001 to 500,000
From 500,001 to 1,000,000
From 1,000,001 to 5000,000
From 5,000,001 to 10,000,000
From 10,000,001 to 50,000,000
From 50,000,001 to 100,000,000
Over 100,000,001
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1,000
2.00 %
1%
0.75%
0.50%
0.10%
0.05%
0.03%
0.01 % |
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11.00%
7.00%
4.00%
2.50%
1.00%
0.50%
0.15%
0.10%
0.05% |
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