Appendix A to Part 194 - Inter-American Commercial Arbitration Commission Rules of Procedure (As Amended April 1, 2002)
22:1.0.1.21.89.0.30.2.12 : Appendix A
Appendix A to Part 194 - Inter-American Commercial Arbitration
Commission Rules of Procedure (As Amended April 1, 2002) Table of
Contents Art. 1 Scope of Application Art. 2 Notice, Calculation of
Periods of Time Art. 3 Notice of Arbitration Art. 4 Representation
and Assistance Art. 5 Appointment of Arbitrators Art. 6 Challenge
of Arbitrators Art. 7 Challenge of Arbitrators Art. 8 Challenge of
Arbitrators Art. 9 Challenge of Arbitrators Art. 10 Replacement of
an Arbitrator Art. 11 Repetition of Hearings in the Event of the
Replacement of an Arbitrator Art. 12 General Provisions Art. 13
Place of Arbitration Art. 14 Language Art. 15 Statement of Claim
Art. 16 Statement of Defense Art. 17 Amendments to the Claim or
Defense Art. 18 Plea as to the Jurisdiction of the Arbitral
Tribunal Art. 19 Further Written Statements Art. 20 Periods of Time
Art. 21 Evidence and Hearings Art. 22 Evidence and Hearings Art. 23
Interim Measures of Protection Art. 24 Experts Art. 25 Default Art.
26 Closure of Hearings Art. 27 Waiver of Rules Art. 28 Decisions
Art. 29 Form and Effect of the Award Art. 30 Applicable law,
Amiable Compositeur Art. 31 Settlement or Other Grounds for
Termination Art. 32 Interpretation of the Award Art. 33 Correction
of the Award Art. 34 Additional Award Art. 35 Costs Art. 36 Costs
Art. 37 Costs Art. 38 Costs: Deposit of Costs Art. 39 Transitory
Article Rules of Procedure (As Amended April 1, 2002) Section I.
Introductory Rules Scope of Application Article 1
1. Where the parties to a contract have agreed in writing that
disputes in relation to that contract shall be referred to
arbitration under the IACAC Rules of Procedure, then such disputes
shall be settled in accordance with these Rules subject to such
modification as the parties may agree in writing and the IACAC may
approve.
2. These Rules shall govern the arbitration, except that where
any such rule is in conflict with any provision of the law
applicable to the arbitration from which the parties cannot
derogate, that provision shall prevail.
Notice, Calculation of Periods of Time Article 2
1. For the purposes of these rules, any notice, including a
notification, communication or proposal, is deemed to have been
received if it is physically delivered to the addressee in person
or via fax, telex or any other means agreed to by the parties, 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, then at the addressee's last known habitual
residence or at his last known place of business. Notice shall be
deemed to have been received on the day it is so delivered by any
of the means stated in these rules.
2. For the purposes of calculating a period of time under these
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
which follows. Official holidays or non-business days occurring
during the running of the period of time are included in
calculating the period.
Notice of Arbitration Article 3
1. The party initiating recourse to arbitration (hereinafter
referred to as the “claimant”) shall give to the other party
(hereinafter referred to as the “respondent”) a notice requesting
arbitration and shall provide a copy to the Director General of the
IACAC, either directly or through the IACAC National Section if one
exists in his country of domicile.
2. Arbitral proceedings shall be deemed to commence on the date
on which the notice of arbitration is received by the
respondent.
3. The request for arbitration shall at least include the
following:
(a) A request that the dispute be submitted to arbitration;
(b) The names and addresses of the parties;
(c) A copy of the arbitration clause or the separate arbitration
agreement;
(d) A reference to the contract out of which, or in relation to
which, the dispute has arisen, and a copy thereof if the claimant
deems it necessary;
(e) The general nature of the claim and an indication of the
amount involved, if any;
(f) The relief or remedy sought;
(g) If three arbitrators are to be appointed, designation of one
arbitrator, as referred to in Article 5, paragraph 3.
4. The request for arbitration may also include the statement of
claim referred to in Article 15.
5. Upon receipt of the notice of arbitration, the Director
General of the IACAC or the IACAC National Section shall
communicate with all parties with respect to the arbitration and
shall acknowledge the commencement of the arbitration.
Representation and Assistance Article 4
The parties may be represented or assisted by persons of their
choice. The names and addresses of such persons must be
communicated in writing to the other party; such communication must
specify whether the appointment is being made for purposes of
representation or assistance.
Section II. Composition of the Arbitral Tribunal Appointment of
Arbitrators Article 5
1. If the parties have not otherwise agreed, three arbitrators
shall be appointed.
2. When the parties have agreed that the dispute will be
resolved by a single arbitrator, he may be appointed by the mutual
agreement of the parties. If the parties have not done so within
thirty (30) days from the date on which the notice of arbitration
is received by the respondent, the arbitrator will be designated by
the IACAC.
3. If three arbitrators are to be appointed, each party shall
appoint one arbitrator. The two arbitrators thus appointed shall
choose the third arbitrator, who will act as the presiding
arbitrator of the tribunal.
4. If within thirty (30) days after receipt of the claimant's
notification of the appointment of an arbitrator, the other party
has not notified the first party with a copy to the Director
General of the IACAC either directly or through the IACAC National
Section if one exists in his country of domicile, of the arbitrator
he has appointed, the arbitrator will be designated by the
IACAC.
5. If within thirty (30) days after the appointment of the
second arbitrator, the two arbitrators have not agreed on the
choice of the presiding arbitrator, the presiding arbitrator will
be appointed by the IACAC.
6. In making appointments, the IACAC shall have regard to such
considerations as are likely to secure the appointment of
independent and impartial arbitrators, and shall also take into
account the advisability of appointing an arbitrator of a
nationality other than the nationalities of the parties.
7. The IACAC may request from either party any information it
deems necessary in order to discharge its functions.
Challenge of Arbitrators Article 6
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 IACAC, if
appointed by the IACAC, unless they have already been informed by
him of these circumstances.
Article 7
1. Any arbitrator may be challenged if circumstances exist that
give rise to justifiable doubts as to the arbitrator's impartiality
or independence.
2. A party may challenge the arbitrator appointed by him only
for reasons of which he becomes aware after the appointment has
been made.
Article 8
1. A party who intends to challenge an arbitrator shall send
notice of his challenge within fifteen days after the appointment
of the challenged arbitrator has been notified to the challenging
party or within fifteen days after the circumstances mentioned in
Articles 6 and 7 became known to that party.
2. The challenge shall be notified to the other party, to the
arbitrator who is challenged and to the other members of the
arbitral tribunal and to the Director General of the IACAC. The
notification shall be in writing and shall state the reasons for
the challenge.
3. 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 5 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.
Article 9
1. If the other party does not agree to the challenge and the
challenged arbitrator does not withdraw, the decision on the
challenge will be made by the IACAC.
2. If the IACAC sustains the challenge, a substitute arbitrator
shall be appointed or chosen pursuant to the procedure applicable
to the appointment or choice of an arbitrator as provided in these
rules.
Replacement of an Arbitrator Article 10
1. In the event of the death or resignation of an arbitrator
during the course of the arbitral proceedings, a substitute
arbitrator shall be appointed or chosen pursuant to the procedure
applicable to the appointment or choice of the arbitrator being
replaced.
2. In the event that an arbitrator fails to fulfill his
functions or in the event of the de jure or de facto
impossibility of performing his function, or if the IACAC
determines that there are sufficient reasons to accept the
resignation of an arbitrator, the procedure in respect of the
challenge and replacement of an arbitrator as provided in the
preceding articles shall apply.
3. If an arbitrator on a three-person tribunal does not
participate in the arbitration, the two other arbitrators shall
have the power in their sole discretion to continue the arbitration
and make any decision, ruling or award, notwithstanding the refusal
of the third arbitrator to participate. In deciding whether to
continue the arbitration or to render any decision, ruling or
award, the two other arbitrators shall take into account the stage
of the arbitration proceedings, the reasons, if any, stated by the
third arbitrator for not participating, as well as such other
matters they consider appropriate in the circumstances of the case.
If the two arbitrators decide not to continue the arbitration
without the participation of the third arbitrator, the IACAC on
proof satisfactory to it shall declare the office vacant, and the
party that initially appointed him shall proceed to appoint a
substitute arbitrator within thirty (30) days following the vacancy
declaration. If the designation is not made within the stated term,
then the substitute arbitrator will be appointed by the IACAC.
Repetition of Hearings in the Event of the Replacement of an
Arbitrator Article 11
If under Articles 8 to 10 the sole or presiding arbitrator is
replaced, any hearings held previously shall be repeated; if any
other arbitrator is replaced, such prior hearings may be repeated
at the discretion of the arbitral tribunal.
Section III. Arbitral Proceedings General Provisions Article 12
1. Subject to these 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.
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
evidence.
3. All documents or information supplied to the arbitral
tribunal by one party shall at the same time be communicated by
that party to the other party.
Place of Arbitration Article 13
1. If the parties have not reached an agreement regarding the
place of arbitration, the place of arbitration may initially be
determined by the IACAC, subject to the power of the tribunal to
determine finally the place of arbitration within sixty (60) days
following the appointment of the last arbitrator. All such
determinations shall be made having regard for the contentions of
the parties and the circumstances of the case.
2. Notwithstanding the foregoing, the tribunal may meet in any
place it may deem appropriate to hold hearings, hold meetings for
consultation, hear witnesses, or inspect property or documents. The
parties shall be given sufficient written notice to enable them to
be present at any such proceeding.
Language Article 14
1. Subject to an agreement by the parties, the arbitral tribunal
shall, promptly after its appointment, determine the language or
languages to be used in the proceedings. This determination shall
apply to the statement of claim, the statement of defense, and any
further written statements and, if oral hearings take place, to the
language or languages to be used in such hearings.
2. The arbitral tribunal may order that any documents annexed to
the statement of claim or statement of defense, 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.
Statement of Claim Article 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 and to each of the arbitrators,
with a copy to the IACAC. A copy of the contract, and of the
arbitration agreement if not contained in the contract, shall be
annexed thereto.
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.
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.
Statement of Defense Article 16
1. Within a period of time to be determined by the arbitral
tribunal, the respondent shall communicate his statement of defense
in writing to the claimant and to each of the arbitrators, with a
copy to the IACAC.
2. The statement of defense shall reply to the particulars (b),
(c) and (d) of the statement of claim (Article 15, paragraph 2).
The respondent may annex to his statement the documents on which he
relies for his defense or may add a reference to the documents or
other evidence he will submit.
3. In his statement of defense, or at a later stage in the
arbitral proceedings if the arbitral tribunal decides that the
delay was justified under the circumstances, the respondent may
make a counterclaim arising out of the same contract, or rely on a
claim arising out of the same contract for the purpose of a
set-off.
4. The requirements provided in Article 15, paragraph 2, of
these Rules shall apply to both any counterclaim or to any claim
presented for the purposes of a set-off.
Amendments to the Claim or Defense Article 17
During the course of arbitral proceedings either party may amend
or supplement his claim or defense unless the arbitral tribunal
considers it inappropriate to allow such amendment, having regard
to the delay in making it or prejudice to the other party or any
other circumstances. However, a claim may not be amended in such a
manner that the amended claim falls outside the scope of the
arbitration clause or separate arbitration agreement.
Plea as to the Jurisdiction of the Arbitral Tribunal Article 18
1. The arbitral tribunal shall have the power to rule on
objections that it has no jurisdiction, including any objection
with respect to the existence or validity of the arbitration clause
or of the separate arbitration agreement.
2. The arbitral tribunal shall have the power to determine the
existence or the validity of the contract of which an arbitration
clause or an arbitration agreement forms a part.
For the purposes of this Article, an arbitration clause that
forms part of a contract and that provides for arbitration under
these 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 or the
arbitration agreement.
3. A plea that the arbitral tribunal does not have jurisdiction
shall be raised not later than in the statement of defense or, with
respect to a counterclaim, in the reply to the counterclaim.
4. In general, the arbitral tribunal should rule on a plea
concerning its jurisdiction as a preliminary question. However, the
arbitral tribunal may proceed with the arbitration and rule on such
a plea in its final award.
Further Written Statements Article 19
The arbitral tribunal shall decide which further written
statements, in addition to the statement of claim and the statement
of defense, shall be required from the parties or may be presented
by them and shall fix the periods of time for communicating such
statements.
Periods of Time Article 20
The periods of time fixed by the arbitral tribunal for the
communication of written statements (including the statement of
claim and statement of defense) should not exceed forty-five days.
However, the arbitral tribunal may extend the time limits if it
concludes that an extension is justified.
Evidence and Hearings (Articles 21 & 22) Article 21
1. Each party shall have the burden of proving the facts relied
on to support his claim or defense.
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 that that party
intends to present in support of the facts in issue set out in his
statement of claim or statement of defense.
3. At any time during the arbitral 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
1. In the event of an oral hearing, the arbitral tribunal shall
give the parties adequate advance notice of the date, time and
place thereof.
2. If witnesses are to be heard, at least fifteen days before
the hearing each party shall communicate to the arbitral tribunal
and to the other party the names and addresses of the witnesses he
intends to present, and the subject upon and the languages in which
such witnesses will give their testimony.
3. 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 days before the hearing.
4. 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 is free to determine the manner in
which witnesses are examined.
5. Evidence of witnesses may also be presented in the form of
written statements signed by them.
6. The arbitral tribunal shall determine the admissibility,
relevance, materiality and weight of the evidence offered.
Interim Measures of Protection Article 23
1. At the request of either party, the arbitral tribunal may
take any interim measures it deems necessary 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.
2. Such interim measures may be established in the form of an
interim award. The arbitral tribunal shall be entitled to require
security for the costs of such measures.
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.
Experts Article 24
1. The arbitral tribunal 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.
2. The parties shall give the expert any relevant information or
produce for his inspection any relevant document or goods that he
may require of them. Any dispute between a party and such expert as
to the relevance of the required information or production shall be
referred to the arbitral tribunal for decision.
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.
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.
Default Article 25
1. If, within the period of 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 the termination of the arbitral proceedings.
2. If one of the parties, duly notified under these rules, fails
to appear at a hearing without showing sufficient cause for such
failure, the arbitral tribunal may proceed with the
arbitration.
3. 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 may make the award on the evidence before it.
Closure of Hearings Article 26
1. The arbitral tribunal may inquire of the parties if they have
any further proofs to offer or witnesses to be heard or submissions
to make and, if there are none, it may declare the hearings
closed.
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 hearings at any time before
the award is made.
Waiver of Rules Article 27
A party who knows that any provision of, or requirement under,
these 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 Decisions Article 28
The arbitral tribunal shall adopt its decisions by a majority
vote. When there is no majority, the decision shall be made by the
president of the tribunal.
Form and Effect of the Award Article 29
1. In addition to making a final award, the arbitral tribunal
shall be entitled to make interim, interlocutory, or partial
awards.
2. The award shall be made in writing and shall be final and
binding on the parties and subject to no appeal. The parties
undertake to carry out the award without delay.
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.
4. An award shall be signed by the arbitrators and it shall
contain the date on which and the place where the award was made,
which shall be the place designated in Article 13. Where there are
three arbitrators and one of them fails to sign, the award shall
state the reasons for the absence of the signature.
5. The award may be made public only with the consent of both
parties.
6. Copies of the award signed by the arbitrators shall be
communicated to the parties by the arbitral tribunal.
7. If the arbitration law of the country where the award is made
requires that the award be filed or registered by the arbitral
tribunal, the tribunal shall comply with this requirement within
the period of time required by law.
Applicable law, Amiable Compositeur Article 30
1. The arbitral tribunal shall apply the 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.
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 arbitral procedure permits such arbitration.
3. In all cases, the arbitral tribunal shall decide in
accordance with the terms of the contract and shall take into
account the usages of the trade applicable to the transaction.
Settlement or Other Grounds for Termination Article 31
1. If, before the award is made, the parties agree on a
settlement of the dispute, the arbitral tribunal shall either issue
an order for the termination of the arbitral proceedings or, if
requested by both parties and accepted by the tribunal, record the
settlement in the form of an arbitral award on agreed terms. The
arbitral tribunal is not obliged to give reasons for such an
award.
2. If, before the award is made, the continuation of the
arbitral proceedings becomes unnecessary or impossible for any
reason not mentioned in paragraph 1, the arbitral tribunal shall
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.
3. Copies of the order for termination of the arbitral
proceedings or of the arbitral award on agreed terms, signed by the
arbitrators, shall be communicated by the arbitral tribunal to the
parties. Where an arbitral award on agreed terms is made, the
provisions of Article 29, paragraphs 2 and 4, shall apply.
Interpretation of the Award Article 32
1. Within thirty days after the receipt of the award, either
party may request that the arbitral tribunal give an interpretation
of the award. The tribunal shall notify the other party or parties
to the proceedings of such request.
2. The interpretation shall be given in writing within
forty-five days after the receipt of the request. The
interpretation shall form part of the award and the provisions of
Article 29, paragraphs 2 to 7, shall apply.
Correction of the Award Article 33
1. Within thirty days after the receipt of the award, either
party may request the arbitral tribunal, which shall notify the
other party, 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 days after the
communication of the award make such corrections on its own
initiative.
2. Such corrections shall be in writing, and the provisions of
Article 29, paragraphs 2 to 7, shall apply.
Additional Award Article 34
1. Within thirty days after the receipt of the award, either
party may request the arbitral tribunal, which shall notify the
other party, to make an additional award as to claims presented in
the arbitral proceedings but omitted from the award.
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 days after the receipt of the
request.
3. When an additional award is made, the provisions of Article
29, paragraphs 2 to 7, shall apply.
Costs (Articles 35 to 38) Article 35
The arbitral tribunal shall fix the costs of arbitration in its
award. The term “costs” includes only:
(a) The fees of the arbitral tribunal, to be stated separately
as to each arbitrator and to be fixed by the tribunal itself in
accordance with Article 36;
(b) The travel and other expenses incurred by the
arbitrators;
(c) The costs of expert advice and of other assistance required
by the arbitral tribunal;
(d) The travel and other expenses of witnesses to the extent
such expenses are approved by the arbitral tribunal;
(e) The costs for legal representation and assistance of the
successful party if such costs were claimed during the arbitral
proceedings, and only to the extent that the arbitral tribunal
determines that the amount of such costs is reasonable;
(f) The administrative fee and other service charges of the
IACAC; which shall be set by the Arbitrator Nominating Committee of
the IACAC in accordance with the schedule in effect at the time of
the commencement of the arbitration. The committee may set a
provisional fee when the proceedings are instituted and the final
amount before the award is rendered, so that such amount may be
taken into account by the tribunal when rendering its award.
Article 36
1. The fees of the arbitral tribunal and the administrative fees
for the IACAC shall be set in accordance with the schedule in
effect at the time of commencement of the arbitration. The fees
shall be calculated on the basis of the amount involved in the
arbitration; if that amount cannot be determined, the fees shall be
set discretionally.
2. The amount between the maximum and minimum range in the
schedule shall be set in accordance with the nature of the dispute,
the complexity of the subject matter and any other relevant
circumstances of the case.
Article 37
1. The costs of arbitration shall be borne by the unsuccessful
party. However, the arbitral tribunal may apportion each of such
costs between the parties if it determines that apportionment is
reasonable, taking into account the circumstances of the case.
2. When the arbitral tribunal issues an order for the
termination of the arbitral proceedings or makes an award on agreed
terms, it shall fix the costs of arbitration referred to in Article
35 in the text of that order or award.
3. No additional fees may be charged by an arbitral tribunal for
interpretation or correction or completion of its award under
Articles 32 to 34.
Article 38 Deposit of Costs
1. The arbitral tribunal, on its establishment, or the
Arbitrator Nominating Committee of the IACAC within its purview,
may request each party to deposit an equal amount as an advance for
the costs referred to in Article 35, paragraphs (a), (b), (c) and
(f).
2. During the course of the arbitral proceedings the arbitral
tribunal may request supplementary deposits from the parties.
3. When a party so requests, the arbitral tribunal shall fix the
amounts of any deposits or supplementary deposits only after
consultation with the IACAC, which may make any comments to the
arbitral tribunal which it deems appropriate concerning the amounts
of such deposits and supplementary deposits.
4. If the required deposits are not paid in full within thirty
days after the receipt of the request, the arbitral tribunal shall
so inform the parties in order that one or another of them may make
the required payment. Should one of the parties fail to pay its
deposits in full, the other party may do so in its stead. If
payment in full is not made, the arbitral tribunal may order the
suspension or termination of the arbitral proceedings.
5. After the award has been made, the arbitral tribunal shall
render an accounting to the parties of the deposits received and
return any unexpended balance to the parties.
Transitory Article Article 39
Any disputes arising under contracts that stipulate resolution
of such disputes pursuant to the IACAC Rules of Procedure and that
have not been submitted to an arbitral tribunal as of the date on
which these rules enter into effect shall be subject to these rules
in their entirety.