16 February 2017
In the Arbitration(amended) Act 2015, there is a schedule for fees. In the note to the said schedule it is mentioned that in case of sole arbitrator additional 25% fees will be payable extra. My query is whether the Arbitral tribunal(consisting of three arbitrators) is eligible for the fee stipulated in the schedule or they can ask for extra fee per sittings? There is no court order to appoint the arbitration. It is between two parties only. further in case of appointment of sole arbitrator, can he ask for addtional fee per sitting? Kindly advise.
23 February 2017
If you resort to institutional arbitration fees are pre decided. You can choose from the panel of arbitrators. If both the parties appoint the sole arbitrator is free to decide the fee and once accepted by both the parties it is binding. If you have your counsel they can guide you better on the matter further.