Document ID: chunk:federal_register_of_legislation:F2024L01638:reg:27
Version: federal_register_of_legislation:F2024L01638
Segment Type: reg
Provision Reference: reg 27
Character Range: 52259–54729

27  Arbitration agreement
 (1) The parties to an arbitration must make an agreement in relation to the arbitration.
Note: An agreement under this section is an arbitration agreement: see section 22.
 (2) An arbitration agreement must:
 (a) be in writing; and
 (b) set out the information mentioned in subsection (3) in relation to the arbitration; and
 (c) give details of the arrangements agreed by the parties in relation to the payment of the costs of the arbitration; and
 (d) include a statement to the effect that each party agrees to pay the party's agreed share of the costs of the arbitration within 28 days, or another specified period agreed by the parties and the arbitrator, after an award has been made; and
 (e) include a statement, in relation to each party, that:
 (i) is to the effect that the party has been provided, before the arbitration agreement was signed by that party, with legal advice from a legal practitioner on a draft agreement that meets the requirements in paragraphs (a) to (d); and
 (ii) is signed by the legal practitioner who provided that advice; and
 (f) be signed by each party to the arbitration.
 (3) For the purposes of paragraph (2)(b), the information is as follows:
 (a) the name, address and contact details of each party to the arbitration;
 (b) the name of the arbitrator;
 (c) the date, time and place at which the arbitration is to be conducted;
 (d) the issues to be dealt with in the arbitration;
 (e) the estimated time needed for the arbitration;
 (f) information about how the arbitration will be conducted (for example, information about the exchange of documents and witness statements, scheduling and receiving expert evidence);
 (g) the circumstances in which the arbitration may be suspended or terminated;
 (h) the estimated costs of the arbitration, including the costs of any disbursements that may be incurred in respect of the arbitration (for example, hire of a venue for the arbitration).
 (4) For the avoidance of doubt, paragraph (3)(d) is subject to:
 (a) any rule that prescribes, for the purposes of paragraph 123(1)(sc) of the Act, a dispute, proceedings or a matter that may or may not be arbitrated under the family law; or
 (b) section 23 of this instrument, or any other provision that prescribes, for the purposes of paragraph 123(1)(sc) of the Act, as applied by paragraph 125(1)(bc) of the Act, a dispute, proceedings or a matter that may or may not be arbitrated under the family law.