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  • Institute for the Development of Commercial Law and Practic
  • ICLP Arbitration Centre announces the appointment of a New Secretary General 28th June 2013
  • Contact Us (Address and contact details, Google Map and Inquiry form)
  • Institute for the Development of Commercial Law and Practic

Arbitration Procedure

Arbitration is conducted at the ICLP Arbitration Centre (Centre) according to the ICLP Arbitration Centre Rules (Rules), which enable the conduct of both domestic and international arbitration proceedings in Sri Lanka. The Rules are modeled on the Rules of the Arbitration Institute of the Stockholm Chamber of Commerce and changes have been made only where necessary to make the ICLP Arbitration Centre Rules accord with the Sri Lankan Laws and conditions. The Rules provide that the Centre may conduct arbitration proceedings under other Rules such as the UNCITRAL Rules and the ICC Rules.

The Rules create certainty and predictability and also embody a number of other features, which conform to universally accepted modern arbitration standards which make arbitration more attractive than ad hoc arbitration proceedings arranged without an institutional and procedural framework.

Under these Rules, Arbitral Tribunals are completely autonomous and absolutely independent.


Regular Rules of the ICLP Arbitration Centre

(As adopted by the Council of Management of the Institute for the Development of Commercial Law and Practice (ICLP) and in force from the 29 th of February 1996)

  • Request for Resolution by Arbitration No - 1
    • 1. A request for the resolution of a dispute by arbitration at the Centre shall be made by a party filing with the Centre a statement which shall include :

      • The names and addresses of the parties to the dispute.

      • The facts relevant to the dispute.

      • The relief claimed by the Claimant.

      • Together with a copy of the agreement on which the claim is based and a copy of the Arbitration Agreement, if the latter is not included in the former;and,

      • Where applicable, the names and particulars of the arbitrator or arbitrators appointed by the Claimant.

  • Processing of Request No - 2 / 3 / 4
    • 2. Within three working days of the submission of the request to the Centre such request shall be submitted by the Secretary General to the Chairman ofthe Board.

    • 3. On receipt of such request the Chairman shall expeditiously convene a Meeting of the Board to consider such request.

    • 4.
      • Where the Board is of the opinion that such request may be entertained bythe Centre, the Board shall convey such opinion to the Secretary General forthe Secretary General to take the further steps necessary in accordance withthe Rules.

      • Where the Board is of the opinion that the request cannot be entertained by the Centre for resolution under the ICLP Arbitration Centre rules, the Boardshall refer the request back o the Secretary General for action under Section 9 (2) of the Constitution.

  • Notice to RespondentNo - 5.1 / 5.2 / 5.3 / 5.4 / 6
    • 5.1 In the event that the Board decides that such request should be entertainedunder the Rules, the Secretary General shall within seven working days fromsuch decision require the Respondent party to submit a reply to the Centrewithin the time period nominated by the Secretary General, which shall include-

      • Statement commenting on the request made by the Claimant; and

      • Where applicable, a statement identifying the arbitrator or arbitrators appointed by the Respondent.

    • 5.2 In the event that the Respondent wishes to raise any objection against thevalidity or concerning the applicability of the Arbitration Agreement, such objection shall be made in the reply together with the grounds therefor.

    • 5.3 The Respondent may make a counter claim or plead a set off. A statementto that effect shall be made in the reply, including the facts relevant to thedispute and the relief claimed. A counter claim or a plea by way of set-offmust be within the scope of the Arbitration Agreement.

    • 5.4 The Board may request the Respondent to be more comprehensive in thecounter claim or plea for set off. In the event that the Respondent fails to make a comprehensive counter claim or plea for a set off upon the requestof the Board such claim or plea may be dismissed by the Board.

    • 5.5 The reply of the Respondent shall be communicated to the Claimant by the Secretary General. The Claimant shall be given the opportunity to comment on any objections and pleas raised by the Respondent. Such commencements shall be in a statement. A copy thereof shall be forwarded to the Respondent.

    • 5.6 Failure by the Respondent submit a reply shall not prevent the continuance of the proceedings in the case.

    • 6. In the event that the Centre has requested a party to perform any act within a specified time, such time limit may be extended by the Centre, on application by the parties or otherwise.

  • Appointment of ArbitratorsNo - 7.1 / 7.2 / 7.3 / 7.4 / 7.5 / 7.6 / 7.8
    • 7.1 Each party shall appoint an equal number of arbitrators who shall appoint a Chairman of the Tribunal. If the arbitrators are unable to appoint a Chairman in such an event the Board may make such appointment.

    • 7.2 In the event that the parties have not agreed upon the number of arbitrators, the number shall be three.

    • 7.3 In the event that the parties have agreed that the dispute shall be decided by a sole arbitrator but cannot agree on the person the appointment of such sole arbitrator shall be made by the Board.

    • 7.4 In the event that the parties have so agreed the Board shall appoint all the arbitrators.

    • 7.5 In the event that a party fails to appoint an arbitrator within the time prescribed by the Board , the Board shall make the appointment.

    • 7.6 In the event of a death of an arbitrator appointed by a party, such appointment party shall Appoint another arbitrator in place of the deceased arbitrator

    • 7.7 In the event of an arbitrator resigning or being removed from office the Board shall appoint another arbitrator provided however, that in the event that if the vacating arbitrator had been appointed by a party the Board shall make such appointment in concurrence with the party who appointed the arbitrator who vacated office.

    • 7.8 In the event of the parties or the Board failing to appoint arbitrators as above, a party may apply to the High Court to take necessary measures towards the appointment of the arbitrator/s.

  • Duties of an ArbitratorNo - 8.1 / 8.2
    • 8.1 A person who is requested to accept appointment as an arbitrator shall disclose any circumstances which is likely to affect the impartiality or independence, of such person.

    • 8.2 An arbitrator shall from the time of his appointment and during the arbitral proceedings,disclose without delay any such circumstances as are referred to in section 8.1, to the parties and to the other arbitrators.

  • Challenge/Disqualification of an Arbitrator No - 9 / 10.1 / 10.2 / 10.3
    • 9 A party wishing to challenge an arbitrator shall do so setting out the reasons therefore in writing and shall submit such writing to the Board, and copies thereof to the arbitrators and to each of the other parties.

    • 10.1 The Board may decide that an arbitrator is disqualified, and upon the Board making such a decision it shall be conveyed to the arbitrators and the disqualified arbitrator shall be deemed to have been removed with effect from the date of such decision.

    • 10.2 The Board may remove an arbitrator for failure to perform his duties in an adequate manner.

    • 10.3 Before a decision of removal is made the Board shall ascertain the view of the parties and the arbitrators.

  • Duties of the BoardNo - 11 / 12.1 / 12.2 / 12.3
    • 11. When the filing of written statements as required by the foregoing Rules has been concluded the Board shall, as applicable

      • Appoint an arbitrator and/or arbitrators and/or a Chairman of the Arbitral Tribunal.

      • Determine the place of arbitration having due regard to the wishes of the parties.

      • Fix the amount of security and the time within which each party shall pay his share thereof.


    • 12.1 The Board shall fix a sum which shall b e paid to the Centre and which, together with the accrued interest, shall constitute security for the costs of the proceeding. The amount thereof shallbe fixed in accordance with the regulations issued by the Centre. The Board may fix separate sums for a counterclaim and for a plea by way of set-off. After notification by the Arbitral Tribunal or on its own motion the Board may in the course of the arbitration proceedings increase the security.

    • 12.2 In the event of a party failing to make payment as per Rule 13.1 below, the Board shall afford the other party an opportunity to do so. In the event that the required payment is made, the case shall be wholly or partly dismissed or stayed by the Board.

    • 12.3 As soon as the Arbitral Tribunal has been appointed and the security been provided, the Board shall refer the case to the Arbitral Tribunal.

  • Payment of SecurityNo - 13.1 / 13.2 / 13.3
    • 13.1 Each party shall contribute half of such sums of money as are referred to in Rule 12.1 above provided however, that one party may pay the entire sum if such party so desires.

    • 13.2 The Secretariat may, in the course of the arbitration proceedings and thereafter, draw on the security to pay fees to the arbitrators and other costs of the proceedings.

    • 13.3 The Board may decide that the security may partly consist of a bank guarantee or other security.

  • Arbitral ProceedingsNo - 14.1 / 14.2 / 14.3 / 15 / 16
    • 14.1 The Arbitral Tribunal shall comply with the stipulations of the parties in the Arbitration Agreement, the Rules and the wishes of the parties in determining the manner in which proceedings are to be conducted.

    • 14.2 The Arbitral Tribunal shall deal with the case in an impartial, practical and expeditious manner. Each party shall be given a sufficient opportunity to present his case.

    • 14.3 When the Arbitral Tribunal is composed of three or more members, the Chairman may, if the other arbitrators have so authorized him, decide questions of procedure on his own.

    • 15 Unless the parties have agreed on the language or languages to be used in the proceedings, the Arbitral Tribunal shall make a determination in such respect.

    • 16 The Arbitral Tribunal may require a party to be more comprehensive in any or all statements Filed in accordance with the foregoing Rules. The Arbitral Tribunal may dismiss the case if the Claimant fails to comply with such a requirement. In the event that the Respondent fails to do so ,such failure shall not prevent the continuation of the proceedings in the case.

  • Amendment of the Claim or DefenseNo - 17.1 / 17.2
    • 17.1 A party may amend his claim or defense in the course of the proceedings if his case, as amended, is still within the scope of the Arbitration Agreement and unless the ArbitralTribunal considers it inappropriate having regard to the point of time at which the request is made, that prejudice may be caused to the other party or due to other circumstances.

    • 17.2 The provisions of the preceding paragraph shall apply equally to the right of a party to Introduce a plea for a set-off or a counterclaim.

  • Oral HearingNo - 18.1 / 18.2
    • 18.1 An oral hearing shall be held, guided by the wishes of the parties and the Arbitral Tribunal shall determine the time at which such a hearing shall take place, its duration and the manner In which oral evidence shall be presented thereat.

    • 18.2 In the event that an arbitrator is replaced in the course of the proceedings, the newly composed Tribunal shall decide whether and to what extent a prior oral hearing shall be repeated.

  • EvidenceNo - 19.1 / 19.2 / 20 / 21 / 22 / 23
    • 19.1 At the request of the Arbitral Tribunal, the parties shall state the evidence on which they wish to rely upon, specifying what they wish to prove thereby.

    • 19.2 The parties shall produce as requested by the Arbitral Tribunal the documentary Evidence on which they rely.

    • 20 The Arbitral Tribunal may when it deems appropriate require the submission of written affidavits.

    • 21 The Arbitral Tribunal may refuse to accept evidence offered to it if it considers that such evidence is not required or is irrelevant or that proof can be established more simply by other means on a particular matter.

    • 22. Unless the parties agree otherwise, the Arbitral Tribunal may appoint an expert to give his opinion on a particular matter.

    • 23. In the event that a party fails to appear at a hearing or otherwise to comply with an order of the Arbitral Tribunal and does not show valid cause for such failure, such failure shall not prevent the Arbitral Tribunal from proceeding with the case and/or rendering an award.

  • WaiverNo - 24
    • 24 A party who fails during the proceedings to object within a reasonable time to any deviation from provisions of the Arbitration Agreement or other Rules applicable to the proceedings, shall be deemed to have waived his right to invoke such irregularity.

  • The AwardNo - 25 / 26 / 27 / 28 / 29 / 30.1 / 30.2 / 30.3 / 31
    • 25 An award shall be made not later than one year after the case has been referred to the Arbitral Tribunal. At the request of the Arbitral Tribunal, the Board may, however, if appropriate extend this period.

    • 26 After having conscientiously considered and evaluated all aspects of the proceedings, the Arbitral Tribunal shall determine what has been proved in the case and make their award accordingly.

    • 27 The majority opinion of the Arbitral Tribunal shall prevail. In the event that such a majority Is not attained the opinion of the Chairman shall prevail.

    • 28 A separate issue or part of the matter in dispute between the parties may, at the request of a party, be decided by a separate award. If any party objects, such an award may be rendered only if the Arbitral Tribunal deems that there are exceptional reasons therefor.

    • 29 Where a party has partially admitted a claim, the Arbitral Tribunal may give a separate Award on the part that has been admitted.

    • 30.1 The award shall be rendered at the place of arbitration. The award shall contain an order or declaration and the reasons therefor and shall be signed by all the arbitrators. An award may be rendered even in the absence of the signature of an arbitrator providedthat the award has been signed by a majority of the arbitrators and contains a verification by them that the arbitrator whose signature is absent took part in deciding the dispute.

    • 30.2 An arbitrator may attach a dissenting opinion to the award.

    • 30.3 In the event a settlement is made the Arbitral Tribunal may at the request of the parties confirm such settlement in an award.

    • 31 An Arbitral Tribunal shall after the close of the proceedings submit to the Centre one Copy of each award as well as a record of all the proceedings.

  • Payment of Fees or CostsNo - 31.2 / 32.2 / 32.3 / 32.4 / 33 / 34.1 / 34.2
    • 32.1 The Arbitral Tribunal shall decide in the award the amount of fees that are due to the Centre and the arbitrators, respectively.

    • 32.2 The parties shall be liable jointly and severally for the payment of all such sums.

    • 32.3 The party against whom an award is made shall be ordered to pay such fees and costs as well as the fees and costs of the other party unless the circumstances call for a different result.

    • 32.4 When a case is terminated before it has been referred to the Arbitral Tribunal, the Centre will determine the amount of compensation due to it. When a case is terminated before an award has been rendered, the Arbitral Tribunal may decide that the parties shall pay compensation to the Centre and the arbitrators.

    • 33 An award may be rendered even if it deals only with costs.

    • 34.1 The fees of arbitrators shall be reasonable in amount and shall be determined taking into account the time spent by the arbitrators, the complexity of the case, the amount in dispute and other circumstances.

    • 34.2 The amount of fees due to the Centre will be determined in accordance with regulations Issued by the Centre.

  • Correction or Change of the AwardNo - 35.1 / 35.2 / 35.3 / 35.4
    • 35.1 Any obvious miscalculation or clerical error in an award shall be corrected by the Arbitral Tribunal.

    • 35.2 In the event that a party so requests, within (30) days of receiving the award the tribunal may decide a question which should have been decided in the award but which was not decided therein

    • 35.3 In the event that a party so requests, within thirty (30) days of receiving the award the Arbitral Tribunal may provide an interpretation thereof in writing.

    • 35.4 Before the Arbitral Tribunal takes such action, the parties shall be afforded an opportunity to express their views.

  • The Arbitration Agreement to PrevailNo - 36
    • 36 In the event of a conflict between a decision of the Board and the Arbitration Agreement the latter shall prevail.



Rules of the ICLP for Expedited Arbitrations

ICLP Rules for Expedited Arbitration is primarily recommended for minor disputes where the parties desire a speedy and inexpensive procedure. The expedited procedure could be followed upon a request of either party with the consent of the other party

The Rules for Expedited Arbitrations are an alternative to the regular rules of the ICLP Arbitration Centre. (ICLP Rules) The parties themselves may choose which set of rules they wish to apply. The choice should be included either in an arbitration clause in the contract, which specifies the relevant rules or in a separate agreement once the dispute has arisen.

Some of the salient features of ICLP Expedited Rules
  • Request for Arbitration, and all other pleadings would be called before referring the dispute to the Tribunal

  • The Rules promote Sole Arbitrator concept

  • The Award shall be rendered within three months from the dale of referral to Arbitral Tribunal by the ICLP Arbitration Centre

  • The fees of the Arbitrators would depend on the quantum of the claim


Recommended Arbitration Clause

"Any doubt, difference dispute, controversy or claim arising from, out of or in connection with this contract, or on the interpretation thereof or on the rights, duties, obligation, or liabilities of any parties thereto or on the operation, breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the Rules for Expedited Arbitrations of the Arbitration Centre of the Institute for the Development of Commercial Law and Practice"


Rules of the ICLP for Expedited Arbitrations

Adopted by the Board of ICLP Arbitration Centre and in force as of 8th March 2006.
Foreword

ICLP Rules for Expedited Arbitration is primarily recommended for minor disputes where the parties desire a speedy and inexpensive procedure. The expedited procedure could be followed upon a request of either party with the consent of the other party.

The Rules for Expedited Arbitrations are an alternative to the regular Rules of the ICLP Arbitration Centre. (ICLP Rules) The parties themselves may choose which set of rules they wish to apply. The choice should be included either in an arbitration clause in the contract, which specifies the relevant rules or in a separate agreement once the dispute has arisen.


  • Article 1 Request for Expedited Arbitration

    Expedited Arbitration is initiated by the Claimant filing with the ICLP Arbitration Centre a Request for Arbitration together with

    • A Statement of the names, addresses, telephone numbers and e mail addresses of the parties and their Counsel

    • The Statement of Claim which shall include the specific relief sought, material facts and circumstances on which the Claimant relies

    • A copy of the arbitration agreement or clause under which the dispute is to be settled

    • A preliminary statement of the evidence on which the claimant intends to rely

    • A Non Refundable Registration Fee fixed in accordance with ICLP Schedules of Fees approved by the Board of ICLP Arbitration Centre

    • Nomination of the claimant's Arbitrator

  • Article 2 Processing of Request

    The request shall be submitted by the Secretary General to the Chairman of the Board of ICLP Arbitration Centre and upon a decision on the request being reached by the Board, the Secretary General shall take further steps necessary in accordance with the ICLP Rules for Expedited Arbitrations.

  • Article 3 Dismissal

    If the ICLP Arbitration Board lacks jurisdiction over the dispute the Claimant’s Request for Arbitration shall be dismissed.

  • Article 4 Date of commencement of the Arbitration

    The Arbitration shall be deemed to have commenced on the date on which the Request for Arbitration was received by the ICLP Arbitration Centre

  • Article 5 The Respondent’s Reply

    1 The Request for Arbitration shall be communicated to the Respondent by the ICLP Arbitration Centre and within a period of fourteen days the respondent shall send a Reply together with the

    • Comments regarding the Request for Arbitration

    • Objections if any, concerning the validity or applicability of the arbitration agreement, with reasons therefor

    • The Statement of Defense which shall include a statement as to whether and to what extent the Respondent accepts or opposes the relief sought by the Claimant, any counter claim or set off claimed by the respondent

    • A Preliminary statement of the evidence on which the Respondent intends to rely

    • A Non Refundable registration Fee , fixed in accordance with the ICLP Schedules of fees approved by the Board of ICLP Arbitration Centre

    • Nomination of the Respondent’s Arbitrator or consent to the Arbitrator nominated by the Claimant

    2

    • The ICLP Arbitration Centre shall communicate the Respondent’s Reply and the Statement of Defense to the Claimant and the Claimant shall be given an opportunity to comment on any objections and pleas advanced by the Respondent.

    • The comments of the Claimant must be brief and must be submitted within a period of ten days.

    • After the expiration of the period for such comments the Claimant may not amend his claim for relief nor adduce additional facts or evidence, unless the Arbitral Tribunal for special reasons so permits.

    3 Failure by the Respondent to submit a Reply within the specified period shall not prevent the arbitration from proceeding pursuant to these Rules

  • Article 6 Withdrawal

    1 No action shall be taken by the ICLP Arbitration Centre on a Request for Arbitration or Reply until the Non Refundable Registration Fee has been paid.

    2 If the Claimant or the Respondent fails within fourteen working days to pay the Non Refundable Registration Fee, it shall be deemed to have withdrawn its Request for Arbitration or Reply, as the case may be.

  • Article 7 Procedure of the Centre

    The ICLP Arbitration Centre shall maintain the confidentiality of the arbitration and shall deal with the arbitration in an impartial, practical and expeditious manner.

  • Article 8 Notice

    Any notice or other communication from the ICLP Arbitration Centre shall be delivered to the last known address of the addressee by courier or registered mail, facsimile transmission, e mail or by any other means of communication that provides a record of the sending thereof.

  • Article 9Place of Arbitration and Language

    The Arbitral Tribunal after consultation with the parties shall decide the place of arbitration and the language in which it is to be conducted.

  • Article 10Advance on Costs

    1 The advance on Costs shall be equivalent to the estimated amount of the arbitration costs pursuant to Article 26

    2 Each party shall contribute half of the Advance on Costs

    3 If a party fails to make the required payment, the ICLP Arbitration Centre shall afford the other party an opportunity to do so within a specified period of time. If the required payment is not made, the case shall be dismissed either wholly or partly to such extent as is attributable to the missing payment.

    4 The ICLP Arbitration Centre may at the commencement, during or after the proceedings draw on the Advance on Costs to cover the fees of the Arbitrators and other arbitration costs

  • Article 11Appointment of the Arbitral Tribunal

    1 The Arbitral Tribunal shall consist of a Sole Arbitrator, unless the arbitration agreement provides for an Arbitral Tribunal consisting of three Arbitrators.

    2 A Sole Arbitrator shall be appointed by the consent of both parties. If the Arbitral Tribunal consists of three members, each party shall nominate his Arbitrator and the Arbitrators so appointed shall appoint the Chairman of the Arbitral Tribunal.

    3 If the appointment of Arbitral Tribunal is not made within twenty one days after the commencement of the Arbitration, the Board of Directors of the ICLP Arbitration Centre shall make the necessary appointment.

  • Article 12Referral of a case to the Arbitral Tribunal

    When the Arbitral Tribunal has been constituted as above and the Advance on Costs has been paid, the ICLP Arbitration Centre shall refer the matter to the Arbitral Tribunal.

  • Article 13Impartiality and Independence and Duty of an Arbitrator to Disclose

    An Arbitrator must be impartial and independent and must disclose any circumstances likely to give rise to justifiable doubts as to his impartiality

    and independence. An Arbitrator who in the course of the arbitral proceedings becomes aware of any circumstances which may disqualify him must immediately in writing inform the parties thereof.

  • Article 14Challenge an Arbitrator

    Where a party wishes to challenge the appointment of an Arbitrator, that party shall send a written statement to the Board of ICLP Arbitration Centre setting forth the reasons for challenge and the Board shall take the final decision on the challenge after considering the comments of both parties and the Arbitrator concerned.

  • Article 15Removal of the Arbitrator

    Where the Arbitrator fails to perform his functions in a proper and an impartial manner the Board of the ICLP Arbitration Centre shall remove the Arbitrator after an inquiry.

    The Proceedings before the Arbitral Tribunal

  • Article 16The procedure before the Arbitral Tribunal

    1 The manner of conducting the arbitration should be in compliance with the Arbitration Law, Arbitration agreement and these rules.

    2 The Arbitral Tribunal shall ensure confidentiality of the arbitration unless otherwise agreed by the parties and conduct the case in an impartial, practical and expeditious manner giving each party sufficient opportunity to present its case.

    3 The Arbitral Tribunal shall prepare and distribute to the parties a time schedule for the proceedings at the outset in consultation with the parties.

  • Article 17Oral Hearing & Expert Evidence

    An oral hearing shall be arranged if requested by either party and only if the Arbitral Tribunal deems that a hearing is necessary. If a hearing is held the Arbitral Tribunal shall determine the time for the hearing and except in exceptional circumstances, hearing may not exceed three days.

  • Article 18Evidence

    1 At the request of the Arbitral Tribunal, the parties shall state the evidence on which they intend to rely specifying what they intend to prove with each item of evidence and shall present documentary evidence on which they rely.

    2 The Arbitral Tribunal may refuse to accept evidence submitted to it if such evidence is considered to be irrelevant or non essential or if proof can be established by other means which the Arbitral Tribunal considers more convenient or less expensive

  • Article 19Witnesses

    1 The Arbitral Tribunal has discretion, on the grounds of redundancies and irrelevance, to limit or refuse the appearance of any witness, whether witness of fact or expert witness. Any witness who gives oral evidence may be questioned, under the control of the Arbitral Tribunal

    2 The testimony of witnesses may be submitted in written form, whether by way of signed statements, sworn affidavits or otherwise, in which case the Arbitral Tribunal may make the admissibility of the testimony conditional upon the witnesses being made available for oral testimony

  • Article 20Failure of a party to appear

    1 The Arbitral Tribunal has discretion, on the grounds of redundancies and irrelevance, to limit or refuse the appearance of any witness, whether witness of fact or expert witness. Any witness who gives oral evidence may be questioned, under the control of the Arbitral Tribunal

    2 The testimony of witnesses may be submitted in written form, whether by way of signed statements, sworn affidavits or otherwise, in which case the Arbitral Tribunal may make the admissibility of the testimony conditional upon the witnesses being made available for oral testimony

  • Article 21Failure to object to procedural irregularities

    A party who during the proceedings fails to object within a reasonable time to any deviation from provisions of the arbitration agreement or rules applicable to the proceedings shall be deemed to have waived his right to rely on such irregularity.

  • Article 22Award

    1 The Award shall be rendered at the Place of Arbitration and shall be signed by the Arbitrator or Arbitrators, as the case may be. It shall state the date on which it was rendered. It shall contain information about the parties, relief claimed by parties, and the order or declaration. The Award shall state the reasons therefor in summary form, unless the award is on agreed terms.

    2If a settlement is reached the Arbitral Tribunal may at the request of the parties, record the settlement in the form of an Award.

    3The Arbitration costs and its apportionment between the parties shall be fixed in the Award or other order by which the arbitral proceedings are terminated.

    4The ICLP Arbitration Centre shall, upon receipt of the Award from the Arbitral Tribunal, immediately send it to the parties by registered post.

  • Article 23Time for rendering an award

    An Award shall be rendered not later than three months from the date on which the matter was referred to the Arbitral Tribunal by the ICLP Arbitration Centre. In exceptional circumstances, the Board of ICLP Arbitration Centre may extend the time limit

  • Article 24Correction of an Award and Additional Award

    1Any obvious miscalculation or clerical error in an Award or Decision shall be corrected by the Arbitral Tribunal

    2Within thirty days of receiving the award the Arbitral Tribunal shall decide a question which should have been decided in the Award but which was not decided therein

    3Within thirty days of receiving the Award the Arbitral Tribunal may if a party makes a request provide an interpretation thereof in writing.

  • Article 25Filing of awards

    The Arbitral Tribunal shall, after the closure of proceedings submit to the ICLP Arbitration Centre one copy of every award and written order issued in the case as well as of all the recorded minutes therein. The said documents shall be kept on file by the ICLP Arbitration Centre

  • Article 26Arbitration Costs

    1 The Arbitration costs consists the Arbitrators’ fee, the administration fee to the ICLP Arbitration Centre, compensation due to the Arbitrators and the ICLP Arbitration Centre to cover their expenses during the proceedings

    2 The fees of the Arbitrators shall be decided by the ICLP Arbitration Centre considering the quantum of the Claim

    3 The parties are jointly and severally liable for all payments of Arbitration costs

  • Article 27Exclusion of Liability

    The ICLP Arbitration Centre is not liable to any party for any act or omission in connection with the arbitration unless such act or omission is shown to constitute wilful misconduct or gross negligence by the ICLP Arbitration Centre.