A Few
Key Points:
On receipt of the first set of submissions, the Association will appoint a sole arbitrator to hear and determine the dispute, unless the parties expressly agree in writing to the appointment of a tribunal of three arbitrators.
The Arbitrators (three or one) are appointed as an impartial
tribunal to hear and judge the matter and are not in any way able to
assist the parties with presentation of their evidence or statements.
Time Limits – it is very important to be aware of time limits for claiming arbitration and appointing arbitrators.
1. Claiming Arbitration
For Quality and or Condition Claims arbitration must be claimed not later
than 35 days after the completion of discharge.
For claims other than
on quality and condition parties have 120 consecutive days:-
• For CIF, C&F or landed terms after either the expiry
of the contractual period of shipment or completion of final discharge
of the goods, which ever period expires last
• On FOB terms, after the expiry of the contract period of shipment
• On any other terms, after the last day of the contractual delivery period
• For monies due, 120 consecutive days after the dispute
has arisen.
2. Appointment of Members to a Tribunal of three Arbitrators.
Where both parties have agreed to the appointment of a tribunal of three, the party claiming arbitration has 7 days from the claim to appoint
an arbitrator and the other party then has a further 7 days to do likewise.
The Association
will then appoint a third arbitrator to the Tribunal who will
also be Chairman. It is his responsibility to ensure that the matter is
dealt
with promptly and
effectively.
3. What happens if one party fails to appoint an
Arbitrator within the time limits
If any party fails to appoint an arbitrator the Association may do so.
HOW
MUCH WILL IT COST >>
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