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REGULAR RULES The request for arbitration should be made in writing and be directed to the ICLP Arbitration Centre (Centre), by the Claimant. The request must contain the names and addresses of the parties, a statement of claim along with a brief description of the dispute and also could include the appointment of an arbitrator. Thereafter, the Centre will communicate with the Respondent who will be required to submit a reply within a fixed time. The reply should comment on the request made by the Claimant and may also contain the appointment of an arbitrator. After receiving the request for arbitration and the reply of the Respondent, the Chairman of the tribunal or a sole arbitrator, as the case may be, appointed in terms of the Rules. The Board of Directors (Board) of the Centre will determine the place of Arbitration unless the parties have done so and fix an amount to be paid as security for costs. As soon as the amount for security has been paid, the Board will refer the case to the arbitral tribunal. The Parties may be represented or assisted by an Attorney -at- Law or any person of any nationality. No specific legal or other qualifications are required.
The Place of Arbitration - The parties may agree on any place of Arbitration within or outside Sri Lanka. However if the designated place of arbitration is outside Sri Lanka, mandatory rules of law in the selected jurisdiction may, make certain provisions of the Centre Rules, inapplicable or unenforceable. However, if the locale is within Sri Lanka, hearings and other meetings may be held abroad, to some extent.
Language - The parties may agree on any language or languages for the proceedings. If the parties cannot agree thereon, the question will be decided by the arbitrators. Interpretations and translations will be arranged by the Centre, if necessary.
The Arbitrators - If the parties have not decided on the number of Arbitrators, the number shall be three. If the parties have agreed that the dispute is to be decided by a sole arbitrator, the appointment is made by the parties and where they cannot agree, by the Board. If the parties have so agreed, the Board will appoint all the arbitrators. There are no restrictions, with respect of nationality or otherwise, regarding eligibility of arbitrators. All arbitrators, even though chosen by the parties, are required to be impartial and independent and should not be regarded as agents of the parties. Neither the parties nor the Board are bound by any list of arbitrators. Prior to or in connection with his/her appointment an arbitrator must disclose any circumstances which may appear to affect his impartiality or independence. The party may challenge the appointment of an arbitrator by doing so in writing to the Board, who will make a decision on such challenge. The arbitrators have an independent position vis-à-vis the ICLP Arbitration Centre and the Council of Management of ICLP. Neither the award or any other decision taken by the arbitrators need to be submitted to the Centre for approval.
The Award The Rules of the Centre provide that the award shall be made not later than one year after the case has been referred to the arbitrators. If the parties themselves have explicitly stipulated a time limit for rendering of the award, the award will have to be rendered within such period. The award shall be rendered at the place of arbitration and shall contain an order or declaration and the reasons therefor. The award as well as the proceedings are confidential and will not, except by the consent of the parties, be made public. The Award is final as regards the merits. It can be challenged only on the grounds set out in the Arbitration Act No. 11 of 1995.
Expedited Rules The Procedure is almost identical to the procedure under regular rules. but with Specific time limitations. |