Arbitrator Fees
The fees due to each arbitrator shall be based on the value of the sum of
money in dispute. The fees are expressed as minimum and maximum amounts.
Whilst some arbitrators may charge higher fees depending on their experience
and qualifications as arbitrators, the purpose of the minimum and maximum fees
is to enable account to be taken of the number of days involved in the
arbitration. Thus, an arbitration lasting one or two days would incur the
minimum fees. Longer arbitrations would imply increased fees up to the maximum
figure. In no case, may the Panel award fees higher than the maximum fee
indicated herein.
|
Total Sum in Dispute
|
Fees
(Nu.) |
| Minimum Fee |
Maximum Fee |
| 1. Up to Nu. 100,000 |
4,000 |
10.00% |
| 2. From
100,000 to 250,000 |
6,000 |
6.00% |
| 3. From
250,001 to 500,000 |
8,000 |
5.00% |
| 4. From
500,001 to 1,000,000 |
10,000 |
3.00% |
| 5. From
1,000,001 to 2,500,000 |
12,000 |
1.50% |
| 6. From
2,500,001 to 5,000,000 |
0.60% |
1.00% |
| 7. From
5,000,001 to 10,000,000 |
0.40% |
0.80% |
| 8. From
10,000,001 to 25,000,000 |
0.25% |
0.50% |
| 9. From
25,000,001 to 50,000,000 |
0.20% |
0.40% |
| 10. From 50,000,001 to
100,000,000 |
0.15% |
0.30% |
| 11. Above 100,000,000. |
0.10% |
0.25% |
In addition to their fees, arbitrators are entitled to recover the
following costs on the basis of actual receipts submitted to the CDB
Secretariat and up to the indicated maximum amounts:
- Accommodation expenses for arbitrations outside their home base up to a
daily maximum of Nu. 4,000.
- Travel Expenses incurred solely for the purposes of the arbitration,
including site visits, where necessary up to a maximum Nu. 2,500 per
trip.
- Per diem to cover living expenses for arbitrations outside their home
base up to a daily maximum of Nu. 1,500 (no receipts required).
Any expenses which exceed these amounts may only be recovered by the
arbitrators where they have been incurred with the express and advance
approval of the parties in dispute.
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