Source: http://www.legalskills.info/arbitration/rules-and-fees-of-arbitration
Timestamp: 2020-04-06 13:05:15
Document Index: 580137833

Matched Legal Cases: ['§ 1', '§ 2', '§ 3', '§ 5', '§ 6', '§ 7', '§ 8', '§ 9', '§ 10', '§ 11', '§ 12', '§ 13', '§ 14', '§ 15', '§ 16', '§ 17', '§ 18', '§ 19', '§ 20', '§ 21', '§ 22', '§ 23', '§ 24', '§ 25', '§ 26', '§ 27']

LS - International Business Lawyers: Rules and Fees of Arbitration
Rules and fees of arbitration.
The use of LS Arbitration enables you to get an authoritative, final and enforceable decision in a simple, fast and affordable way.
Arbitration proceedings are an efficient way of settling business disputes as an alternative to court proceedings. In arbitration proceedings disputes are settled quickly and with expertise. Arbitration proceedings are used especially in the business community. The procedure can be applied only to disputes which can be settled between the parties.
The settlement of the case by the Arbitral Tribunal is final. The arbitral award is directly enforceable in same way as a final judgement by a court of law.
LS-arbitrators have the special expertise necessary to settle the disputes. The parties may agree on the number and the persons of arbitrators.
The claimant shall submit a written request on the initiation of arbitration to the LS-Arbitration office:
Attorney Office Aasa-Law Ltd, Vuorikatu 6 A 12, 00100 Helsinki, Finland Fax +358 9 612 92 460 / info@aasa-law.fi
The LS-Arbitration Court charges a registration fee for the „request to start“ of 1.000 €. The fee of an LS-arbitrator is 200 €/h (vat 0%). The minimum fee of the arbitral tribunal is nevertheless 5 % of the interest of the case.
The registration (fee 1.000 €) shall be paid into the following account of the LS Arbitration before the request is filed:
Bank: Suupohjan osuuspankki
Bank account: 473000-136613
Please instruct your bank to forward payments orders through:
Bank: Suupohjan osuuspankki, Kalevankatu 3, 00100 Helsinki, Finland
IBAN: FI35 4730 0010 0366 13
In favour of : Arbitration
B. Institution of Proceedings
§ 1 Request for Arbitration
Two or more parties may submit their judicial dispute to be settled in arbitration proceedings in accordance with these rules.
A sole party may submit a dispute to be settled in these proceedings, if the parties have so agreed in writing (for example in correspondence) or if other parties notify in writing that they agree on the proceedings.
The written request on commencing the proceedings shall include:
The names of the parties and of possible representatives, powers of attorneys and contact information;
A preliminary description of the dispute;
A preliminary notice of the claims of the claimant;
The copies of the documents upon which the claims are based; and
Number and the persons of LS arbitrators.
§ 2 Number of Arbitrators and the Appointment Procedure
The parties may agree on the number and the persons of arbitrators.
If the parties have not agreed on the number of arbitrators, there shall be three arbitrators, unless the LS Arbitration considers it to be appropriate to appoint a sole arbitrator taking into account the nature of the dispute, the amount in dispute or other circumstances.
If a sole arbitrator is to be appointed, the appointment shall be made by the LS Arbitration. In other cases, each party shall appoint an equal number of arbitrators and the LS Arbitration shall appoint the Chairman of the arbitral tribunal unless the parties have agreed otherwise.
The appointment shall take place no later than within 14 days after the receipt of the written request. LS Arbitration shall then inform the parties and their representatives in such manner, as it considers appropriate.
The arbitral tribunal may, when necessary, employ a secretary.
§ 3 Qualifications of an Arbitrator
An arbitrator shall be an impartial and independent lawyer who has full legal capacity.
C. Arbitral Proceedings
Each party shall be given a sufficient opportunity of presenting his case. In other respects, the provisions in the arbitration agreement regarding the arbitration procedure shall be complied with.
To the extent the parties have not agreed on procedural matters in the arbitration agreement, the arbitral tribunal shall determine the manner in which the proceedings will be conducted in accordance with these rules having regard to the requirements of impartiality and promptness. Where possible, the wishes of the parties shall be complied with.
The arbitral tribunal may authorize the Chairman decide questions of procedure.
§ 5 Language of Arbitration
Unless the parties have agreed on the language or languages to be used in the proceedings, such language or languages shall be determined by the arbitral tribunal.
The arbitral tribunal may request that each document presented in a case must be accompanied with a translation into a language of the arbitration.
§ 6 Place of Arbitration
If requested by a party, the LS Arbitration may, at the time it appoints the arbitrators, determine the place of arbitration if the parties have not agreed on such place. Otherwise the place of arbitration shall be determined by the arbitral tribunal.
§ 7 Claim
The arbitral tribunal shall request the claimant to submit within a specified time a statement of claim, which shall include:
c) to the extent possible, the evidence the claimant intends to adduce in the matter.
§ 8 Defence
The respondent shall, within a time specified by the arbitral tribunal, submit a defence, which shall include:
a) a statement as to whether and to what extent the respondent accepts or contests the claim;
c) where applicable, a counterclaim or demand for a set-off and the grounds therefor; and
d) to the extent possible, the evidence the respondent intends to adduce in the matter.
§ 9 Alteration and Amendment of Claim
During the course of the arbitral proceedings, a party may amend or supplement his claims or grounds therefor and also make a counterclaim or demand for a set-off, unless this would cause undue delay of the proceedings.
§ 10 Oral Hearing
As a rule, an oral hearing shall be held during the arbitral proceedings in a manner determined by the arbitral tribunal and taking into consideration the reasonable wishes of the parties.
If an arbitrator is replaced during the course of the arbitral proceedings, the newly composed arbitral tribunal shall decide whether and to what extent a prior oral hearing shall be repeated.
§ 11 Production of Evidence
At the request of the arbitral tribunal, the parties shall state the evidence on which they wish to rely, specifying what they wish to prove with each item of evidence.
The arbitral tribunal shall determine to what extent written affidavits may be submitted as evidence.
The arbitral tribunal may refuse to accept evidence that relates to a fact that is irrelevant or that has already been established or if the evidence can be produced by other means in a considerably less burdensome fashion or at a considerably lesser expense.
After having conscientiously scrutinized and evaluated all evidence produced during the proceedings, the arbitral tribunal shall determine what shall be deemed proven in the matter.
§ 12 Use of an Expert
Unless the parties have otherwise agreed, after hearing the parties, the arbitral tribunal may appoint an expert to investigate and to give an opinion on a material fact relevant to the determination of the case, if special professional knowledge is needed to evaluate such fact.
The arbitral tribunal may also require a party to give the expert any information necessary for him in the performance of his task and to give the expert an opportunity to inspect documents, goods or other property.
§ 13 Failure of a Party to Appear
If a party, without a sufficient cause, fails to appear at a hearing or to comply otherwise with an order of the arbitral tribunal, such failure will not prevent the arbitral tribunal from proceeding with and deciding the case.
§ 14 Objecting to Procedural Deviations
If a party, after attaining knowledge that the rules applicable to arbitral proceedings have not been complied with, fails to promptly state his objection with regard thereto, he shall be deemed to have waived his right to object.
§ 15 Interim measures
At the request of either party the arbitral tribunal may during the course of the arbitral proceedings issue an injunction or order any other interim measure it deems necessary in respect of the subject matter of the dispute. The arbitral tribunal may order the requesting party to provide security for damage in such form as the arbitral tribunal considers appropriate for any costs and damages caused by the measure to the party against whom it is directed.
A court or another competent authority may, however, before or during the course of arbitral proceedings, despite the arbitration agreement grant such interim measure, which the authority has the power to grant.
§ 16 Termination of Arbitration
If the parties agree that the proceedings will be discontinued, or if the arbitral tribunal comes to a conclusion that the proceedings cannot be continued, the arbitral tribunal shall issue an order for the termination of the arbitral proceedings. A copy of this order shall be submitted to the LS Arbitration.
If the claimant withdraws his claim, the arbitral tribunal shall issue an order for the termination of the proceedings. If, however, the respondent demands that an arbitral award be issued, and the arbitral tribunal determines that the respondent has a sufficient reason to have the dispute finally settled, the proceedings can be continued in order to settle the dispute through the issuance of an arbitral award.
D. Arbitral Award
§ 17 Rules Applicable to the Substance of the Dispute
The arbitral tribunal shall decide the dispute in accordance with the rules of law applicable to the substance of the dispute.
If the parties have designated the law of a given state as applicable to the substance of the dispute, the arbitral tribunal shall apply that law. Failing such designation by the parties and if the dispute is international, the arbitral tribunal shall apply the rules of law which it deems to be appropriate.
The arbitral tribunal may, however, decide the dispute ex aequo et bono only if the parties have expressly authorised it to do so.
§ 18 Voting
Any decisions of the arbitral tribunal shall be made by a majority of all its members. If such a majority is not attained, the opinion of the Chairman shall prevail.
§ 19 Settlement
If during the arbitral proceeding the parties settle the dispute, the arbitral tribunal may record the settlement in the form of an arbitral award on agreed terms.
§ 20 Partial Award
The arbitral tribunal may, at the request of a party, render a partial arbitral award on an independent claim in a dispute where several claims have been made. The arbitral tribunal may also, at the request of a party, render a partial award on that part of the claim that has been admitted by the respondent. A claim and a demand for a set-off with regard thereto shall, however, be determined jointly.
§ 21 Interim Award
The arbitral tribunal may, if the parties have so agreed, decide by an interim arbitral award a separate issue in dispute, if rendering an award on other matters in dispute is dependent on rendering such an interim award.
§ 22 Form and Place of Rendering the Award
The award shall be made in writing and shall be signed by the arbitrators. If an arbitrator’s signature is missing, the award shall state the reason for the absence of the signature. A dissenting opinion of an arbitrator, if any, shall be attached to the award.
The award shall state the date on which and the place where the award was made. The award shall be deemed to be made at the place which has been agreed or determined to be the place of arbitration.
§ 23 Rendering the Award
A duly signed copy of the award shall be given to each party at a session of the arbitral tribunal or it shall be delivered to the parties by other verifiable means.
§ 24 Correction of the Award
A party may request the arbitral tribunal to correct in the award any errors in computation or any clerical or typographical errors, or any other errors of a similar nature. A party must, after notification to the other party, request for such correction within 30 days from his receipt of a copy of the award.
If the arbitral tribunal considers the request to be justified, the arbitral tribunal shall make the requested correction without delay and, if possible, within 30 days after the receipt of the request by the Chairman of the arbitral tribunal.
The arbitral tribunal may, at their own initiative, within 30 days after the rendering of the award, correct any error of the type referred to in paragraph 1 of this section. Before such correction is made, the parties shall, when necessary, be provided an opportunity to be heard with regard to the correction to be made.
§ 25 Additional Award
Either party, with notice to the other party, may request the arbitral tribunal to make an additional award as to claims presented in the arbitral proceedings but omitted from the award. If the arbitral tribunal considers the request for an additional award to be justified, they shall complete the award as soon as possible. Before rendering the additional award, the parties shall be heard.
E. Costs of Arbitration and other provisions
§ 26 Arbitrators‘ Fees and Other Costs of Arbitration
The parties are jointly and severally liable for compensating the arbitrators for their work and expenses.
The arbitral tribunal may fix a sum which shall be paid by the parties into an account designated by The arbitral tribunal which, together with interest accrued thereon, shall constitute a security for the fees and costs of the proceedings including the fees of the arbitrators.
The arbitral tribunal may in the award fix and order to be paid the remuneration due to the arbitrators.
The fee of an LS-arbitrator is 200 €/h (vat 0%). The minimum fee of the arbitral tribunal is nevertheless 5 % of the interest of the case.
When deciding on the fees of the arbitrators the time required to resolve the dispute, the complexity of the subject matter, the amount in dispute and other relevant circumstances shall be taken into account.
The losing party in the matter shall be ordered to pay the costs of the arbitration as well as the costs of the arbitration of the winning party, unless there is a justifiable reason to decide otherwise.
§ 27 Exclusion of Liability
The LS Arbitration or an arbitrator shall not be liable for any loss incurred by the parties in any arbitration under the Rules of the Arbitration.
Legal Skills – Arbitration Court
Simo Ellilä Attorney at Law
c/o Attorney Office Aasa-Law Ltd.
Vuorikatu 6 A 12
Mobile: +358 – 400 876 559
E-Mail: info@aasa-law.fi
Phone: + 358 – 9 – 612 92 40
Fax: +358 – 9 – 612 92 460
> New Office in Bangkok 2019
> New Office in Amsterdam 2019