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07 Sample Terms of Appointment
07 Sample Terms of Appointment
A.
The Parties confirm their acceptance that the Arbitral Tribunal comprising
Mr (appointed by the Claimant), Mr (appointed by the Respondent) and Mr
(appointed as Presiding Arbitrator), has been validly established in
accordance with xxx (hereinafter, the Contract) and Article 7 of the
UNCITRAL Arbitration Rules of 1976 (hereinafter, the UNCITRAL Rules).
2.
3.
B.
Communications
4.
5.
C.
7.
If the arbitration continues for more than one year from the date of these
Terms of Appointment, the Arbitrators may request an increase to their hourly
rates of no more than 5% and the Parties will consider such request.
8.
9.
For all travel required in connection with this arbitration, the Arbitrators
shall be reimbursed for (i) economy class air travel if the flight is 9 hours or
less, or (ii) business class air travel is the flight is over 9 hours. Any travel
by train may be reimbursed at a first class rate. The Arbitrators further
agree that reimbursement for accommodation and other expenses incurred
when in Paris for hearings will be limited to xx per day. In the event that
the Arbitrators are required to travel to a location other than Paris, the
Parties will advise and agree with the Arbitrators in advance on the
reimbursement limitations.
D.
Advance on Costs
10.
The Parties shall establish an initial deposit of EUR xx from each side, for
a total of EUR xx. Unless otherwise designated by the Arbitral Tribunal, the
deposit shall be placed in an interest bearing account, maintained and
supervised by the xx acting as fundholder, as provided for in Section 12
below. Each Arbitrator may draw against such deposit on a monthly or
quarterly basis for fees and expenses, provided that the Arbitrator provides
the Parties with a statement containing an itemized list and description of
those fees and expenses being drawn at least 15 days in advance of the
withdrawal. The Arbitral Tribunal or the Presiding Arbitrator may from time
to time require the Parties to replenish such deposit in order to maintain an
appropriate balance, as necessary.
11.
Interest shall accrue on the account for the benefit of the Parties.
12.
xx
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xx
xx
xx
xx
xx
E.
xx shall apply its usual charges for this fundholding service, which the
Parties agree to pay in equal shares as part of the costs of the arbitration
to be allocated by the Arbitral Tribunal in its final award.
14.
15.
16.
Once an award or interim award has been handed down, all outstanding fees,
expenses, disbursements and applicable VAT shall be drawn from the
account designated in Section 12 in accordance with the procedure specified
in that Section. In the event that the funds in this account are not sufficient,
the Arbitrators shall submit an itemized list and description of outstanding
fees and expenses to the Parties for payment. Payment shall be made by the
parties within 60 days of receipt of the aforementioned list and description.
17.
F.
Cancellation Terms
18.
The Arbitrators will be entitled to 25% of their hourly rate as set out in
Section 6 above for the time reserved for a hearing, but not used, if the
hearing is cancelled within two months of its scheduled commencement
date. The Arbitrators will be entitled to an additional 25% if such
cancellation is notified within 48 hours of the hearings scheduled
commencement time. The Arbitrators will be entitled to 25% of their hourly
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rate as set out in Section 6 above for the time reserved for a hearing, but
not used, if the hearing is postponed within 48 hours of its scheduled
commencement time.
19.
G.
In the event that it is agreed during the course of a hearing that the full
time reserved for the hearing is not required, the Arbitrators will not be due
any payment for time reserved for the hearing and not used.
Applicable Law
20.
H.
21.
22.
As appropriate, the Arbitral Tribunal may have regard to the IBA Rules on
the Taking of Evidence in International Arbitration. Anything in these
Rules that conflicts with xx shall not be taken into account by the Arbitral
Tribunal for the purposes of this arbitration.
23.
24.
25.
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Confidentiality
26.
27.
28.
J.
30.
K.
Notices
31.
The Claimant:
Mr
Address
Tel:
Fax:
Email:
Mr.
Address
Tel:
Fax:
Email:
(B)
The Respondent:
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Mr
Address
Tel:
Fax:
Email:
(C)
Mr
Address
Tel:
Fax:
Email:
Mr
Address
Tel:
Fax:
Email:
Mr
Address
Tel:
Fax:
Email:
L.
xx
32.
xx
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Mr
Arbitrator
Mr
Arbitrator
Signature
Signature
Mr
Presiding Arbitrator
Signature
Signature
Signature
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