Schedule of Fees

 View in PDF Format of SCHEDULE I

View in PDF Format of SCHEDULE II

SCHEDULE I

FEES OF ARBITRATION

(all amounts are in Bangladesh Taka)

  1. Registration Fee
  • Along with the Notice of Arbitration, the Claimant shall pay a Registration Fee of Taka 20,000.
  • Without the Registration Fee, BIAC shall not proceed with the arbitration.
  • A Registration Fee of Taka 20,000 shall also be paid by the Respondent, if filing a counterclaim. This fee shall be paid at the time of filing the counterclaim, as required in Rule 4.2(d).
  • The Registration Fee is not refundable.

       2. Administrative Fee

BIAC’s Administrative Fee shall be charged in accordance with the following table:

ADMINISTRATIVE FEE CHART

Sum in dispute (in Taka)                                             Administrative fee

upto 50,00,000                                                                              30,000

from  50,00,001 to 1,00,00,000                                                    30,000 + 0.2% above 50,00,000

from 1,00,00,001 to 5,00,00,000                                                   40,000 + 0.1% above 1,00,00,000

from 5,00,00,001 to 10,00,00,000                                                80,000 + 0.05% above 5,00,00,000

from 10,00,00,001 to 50,00,00,000                                               1,05,000 + 0.025% above 10,00,00,000

from 50,00,00,000 to 100,00,00,000                                             2,05,000 + 0.01% above 50,00,00,000

above 100,00,00,000                                                                     2,55,000

 

3. The Arbitrator’s Fees

Where both parties agree to the application of this Schedule to the determination of the Arbitrators’ Fees, such fees shall be charged in accordance with the following table:

Sum in dispute (in Taka)           Arbitrator’s Fee (minimum)                Arbitrator’sFee (max)

upto 50,00,000                                     Tk. 1,00,000                                                        5,00,000

from  50,00,001 to 1,00,00,000            1,00,000 + 2.5% above Tk. 50,00,000               5,00,000 + 5.0% above 50,00,000

from 1,00,00,001 to 5,00,00,000          2,25,000 + 1.25% above Tk. 1,00,00,000           7,50,000 + 2.5% above TK.1,00,00,000

from 5,00,00,001 to 10,00,00,000        7,25,000 + 0.5% above Tk. 5,00,00,000             17,50,000 + 1.0% above 5,00,00,000

from 10,00,00,001 to 50,00,00,000      9,75,000 + 0.1% above Tk. 10,00,00,000             22,50,000 + 0.2% above 10,00,00,000

from 50,00,00,000 to 100,00,00,000   13,75,000+0.05% above Tk. 50,00,00,000           24,50,000 + 0.1 above 50,00,00,000

from 50,00,00,000 to 100,00,00,000    16,25,000 + 0.01% above Tk. 100,00,00,000      29,50,000 + 0.02% above TK. 100,00,00,000

 

  1. Computation of Fees
  • Claims and counterclaims are added for the determination of the amount in dispute.  The same rule applies to set-off defences, unless the arbitration tribunal, after consulting with the parties, concludes that such set-off claims will not require significant additional work.
  •  The BIAC’s Administrative Fees and the Arbitrator’s Fees may exceed the amounts set out in the scale above where, in the opinion of the BIAC, there are exceptional circumstances which shall include, and not be limited to, the parties conducting the arbitration in a manner not reasonably contemplated by the arbitration tribunal at the time of appointment.
  • Interest claims shall not be taken into account for the calculation of the amount in dispute. However, if the interest claims exceed the amounts claimed in principal, the interest claims alone shall be considered in calculating the amount in dispute.
  • If the claims are made in any currency other than in Taka, they shall be     converted into Taka using the mean of the buying and selling rates of exchange published by the Bangladesh Bank.
  • If the amount in dispute is not quantified, the BIAC’s Administrative Fees and the Arbitrators’ Fees shall be fixed by the BIAC, taking into account all relevant circumstances.

Arbitration Expenses

The expenses of the arbitration shall relate to the actual disbursements for the arbitration, other than Registration Fee, Administrative Fee, and Arbitrator’s Fee. These expenses may cover, but are not limited to: fees and expenses for experts appointed by the Arbitration Tribunal, travel (business class airfare, unless special arrangements have been agreed), accommodation, meals (if in home city, only meals among arbitrators are taken into account), taxi, communications costs, and any other costs related to the conduct of the proceedings (such as rental of hearing rooms, charges for video conferencing, court reporting services, interpreters, etc.). BIAC may issue general guidelines to the arbitrators for the accounting of their expenses. The expenses of the arbitration shall be invoiced and paid separately and are not included in the Arbitrators’ Fees under Section 3 above.

  1. Interim Payments

BIAC may direct that interim payments shall be made from time to time out of funds held on deposit to cover BIAC’s Administrative Fees and the Arbitrators’ Fees and Expenses. Each party shall pay its share of the total advance on costs in cash. However, if a party’s share of the advance on costs is greater than Taka 5,00,000 such party may post a bank guarantee for any amount above Taka 5,00,000. BIAC may modify this requirement if circumstances so require it.

  1. Parties Jointly and Severally Liable
  • The parties shall be jointly and severally liable to the arbitration tribunal and BIAC for the costs of the arbitration. BIAC may authorize the payment of advances on costs, or any party’s share thereof, in installments, subject to such conditions as it thinks fit.
  • A party that has already paid in full its share of the advance on costs fixed by BIAC or the arbitration tribunal, may pay the unpaid portion of the advance owed by the defaulting party by posting a bank guarantee.
  1. Lien on Award

BIAC and the arbitration tribunal shall have a lien over any awards issued by a tribunal to secure the payment of the costs referred to in Article 26, and may accordingly refuse to release any such awards to the parties until all such costs have been paid in full.

 

SCHEDULE II

FEES OF FAST-TRACK ARBITRATION

(all amounts are in Bangladesh Taka)

  1. Registration Fee

1.1       Along with the Notice of Arbitration, the Claimant shall pay a Registration Fee of Taka 7,500.

1.2       Without the Registration Fee, BIAC shall not proceed with the arbitration.

1.3       The Registration Fee is not refundable.

1.4       A Registration Fee of Taka 7,500 shall also be paid by the Respondent, if filing a counterclaim. This fee shall be paid at the time of filing the counterclaim, as required in Rule 4.2(d). This Registration fee is not refundable.

  1. Administrative Fee

BIAC’s Administrative Fee shall be charged in accordance with the following table:

ADMINISTRATIVE FEE CHART

Sum in dispute (in Taka)                                                          Administrative fee

from 1,00,000 to 10,00,000                                                                           10,000

from 10,00,001 to 1,00,00,000                                                                     10,000 + 0.2% above 10,00,000

from 1,00,00,001 to 5,00,00,000                                                                  28,000 + 0.1% above 1,00,00,000

 

  1. The Arbitrator’s Fees

Where both parties agree to the application of this Schedule to the determination of the Arbitrator’s Fees, the Arbitrator’s Fees shall be charged in accordance with the following table:

ARBITRATOR’S FEE CHART

Sum in dispute                                 Arbitrator’s Fee (minimum)                                 Arbitrator’s Fee (maximum)

up to 10,00,000                                              Tk. 50,000                                                                       1,00,000

from 10,00,001 to 1,00,00,000                      50,000 + 1.5% above Tk. 10,00,000                                 1,00,000 + 3.0% above 10,00,000

from 1,00,00,001 to 5,00,00,000                  1,85,000 + 1.0% above Tk. 1,00,00,000                            3,70,000 + 2.0% above 1,00,00,000

  1. Other Charges

The other provisions contained in Schedule I shall apply, mutatis mutandis, to any arbitration conducted under Fast Track Arbitration.

Constitution of the BIAC Arbitration Committee

Article 1: Composition of the Arbitration Committee

  1. The Arbitration Committee shall consist of up to fifteen ordinary members appointed by the Council of Directors of the BIAC (‘the Council’).
  2. The members of the Arbitration Committee shall serve for a period of six years. Subject to the Council’s discretion, any member may be re-appointed for a further six year period after due consultation with other Arbitration Committee members.
  3. The Arbitration Committee shall make recommendations to the Council to fill appointments arising from retirements or casual vacancies and on other issues relating to the composition of the Arbitration Committee from time to time as appropriate.
  4. The Arbitration Committee shall consist of:
  5. A President appointed by the Council on the recommendation of the Arbitration Committee, to serve for a period of up to three years, and to be eligible for reappointment; and
  6. Up to five Vice-Presidents appointed by the Arbitration Committee, to serve until expiry of their terms as members of the Arbitration Committee.
  7. In the absence of the President or at the request of the President, any Vice-President shall be entitled to exercise the functions and powers of the President.
  8. Former Presidents may be invited by the Arbitration Committee to attend Arbitration Committee meetings.

Article 2: Secretary General

  1. The Council shall appoint a Secretary General to perform day to day operational tasks of the BIAC and fulfil such responsibilities as may arise under the BIAC Arbitration Rules.
  2. The Secretary General shall be appointed for a period of three years and may be re-appointed subject to the Council’s discretion.

Article 3: Functions of the Arbitration Committee

  1. The Arbitration Committee shall have power to do anything which it may consider appropriate for the proper performance of its functions and shall in particular:
  2. Perform the functions conferred on it under the BIAC Arbitration Rules;
  3. Keep the BIAC Rules and their associated schedules of costs under review;
  4. Make recommendations to the Council as appropriate concerning the introduction of new general or special Rules; and
  5. Promote the objectives of the BIAC and international arbitration generally.
  6. The functions of the Arbitration Committee under this Constitution and the BIAC Arbitration Rules shall be performed in its name by the President or, in his absence, by a Vice President of the Arbitration Committee.
  7. For the purpose of performing specific tasks in relation to the functions of the Arbitration Committee, the President may set up ad hoc sub-committees of the Arbitration Committee chaired by any member appointed by the President.
  8. In the performance of its functions under this Constitution, members of the Arbitration Committee shall at all times act independently of the Council.
  9. No member of the Arbitration Committee who is related with an arbitration which is being administered in accordance with the BIAC Arbitration Rules shall participate in or influence any decision of the Arbitration Committee relating to such arbitration.

Article 4: Meetings of the Arbitration Committee

  1. The Arbitration Committee shall meet when required under the BIAC Arbitration Rules and at least once every six months.
  2. The meetings shall be chaired by the President or, in his absence, by a Vice-President and the quorum shall be five. The Chairman of the meeting shall have a casting vote.

Article 5: Appointment of arbitrators

  1. All appointments of arbitrators in the name of the Arbitration Committee shall be made by the President or, in his absence, by a Vice-President on the President’s behalf.
  2. All ordinary members of the Arbitration Committee shall be eligible for appointment as arbitrators, provided they have not taken part in the appointment of an arbitral tribunal to which they have been nominated or in any other function of the Arbitration Committee relating to such an arbitration.

Article 6: Functions of the Secretary General

The Secretary General shall carry out day to day operations of the BIAC and administrative functions under the BIAC Arbitration Rules.

Article 7: Amendments

The provisions of this Constitution may only be amended with the mutual consent of the Arbitration Committee and the Council.