855 - 12 44 00 22
September 04, 2014
View in PDF file

48.1    Advance payment for costs of arbitration
The parties shall payNCAC an advance for the estimated costs of the arbitration, except for the registration fee which shall be paid in full in accordance with Rule 42.2 (Timely payment).
The General Secretariat shall determine the amount of the advance. Unless the parties have agreed otherwise, the amount is payable in equal shares by the Claimant and the Respondent.Payments shall be made by cheque or transfer to the designated bank account of NCAC within 15 (fifteen) calendar days after notification thereof by the General Secretariat.

48.2    Supplementary advance
During the course of the arbitration proceedings, including but not limited to the event of an increase of the sum in dispute, a contentious request for interim measures, challenge of an arbitrator or jurisdictional plea,the General Secretariat may request supplementary advance from the parties, which shall be payable within 15 (fifteen) calendar days after notification thereof by the General Secretariat.

48.3    Suspension or termination of arbitration proceedings
If the required advances are not paid in full at the time payment is due, the General Secretariat shall so inform the parties in order that 1 (one) or another of them may make the required payment. If such payment is not made within the period of time set by the General Secretariat the General Secretariat may, after consultation with the Tribunal, direct the Tribunal to suspend work and set a time limit on the expiry of which the relevant claims or counterclaims shall be considered as withdrawn without prejudice to the party reintroducing the same claims or counterclaims in another arbitration proceeding.

Any party is free to pay the whole of the advances on costs of the arbitration in respect of the claim or the counterclaim should the other party fail to pay its share. The Tribunal or the General Secretariat may suspend its work, in whole or in part, or terminate the arbitration proceedings should the advances requested under these Rules remain either wholly or in part unpaid.

48.4    Interim payments
The General Secretariat maydirect that interim payments shall be made from time to time out of advance funds to cover estimated fees for, or expenses already incurred by,NCAC or arbitrators.

48.5    Accounting of advance, return of unspent balance, interest
After a final award, consent award or order for the termination of the arbitration proceedings has been made, the General Secretariat shall render an accounting to the parties of the advance received and utilized. It shall return any unspent balance to the parties in such proportions as the parties may agree, or failing an agreement, in the same proportions as the advances were made. Any interest earned on the advances or any security deposit shall be retained by NCAC as its revenue.

48.6    No liability for sums not covered by advances or security deposits
NCAC including its members, directors, advisers, secretary and personnel shall not be liable for the payment of any sum which is not covered by the advances or security deposits.
Visitors Number