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BIAC Arbitration Process – BIAC

BIAC Arbitration Process

Step 1 : Request for Arbitration
Claimants sends “Request for Arbitration” to the Respondent and BIAC and the Respondent sends Response to Request for Arbitration & Counter Claim.

Step 2 : Constitution of the Tribunal
The Claimant and the Respondent will constitute the Arbitration Tribunal by appointing one or three Arbitrators.

Step 3 : Preliminary Conference
The Arbitration Tribunal holds a preliminary conference in 21 days following the constitution of the Arbitration Tribunal to discuss the procedure; time, venue and date of the hearings and other administrative issues.

Step 4 : Exchange of Documents
Claimant sends Statement of Claim within 30 days of the constitution of the Arbitration Tribunal and the Respondent sends Statement of Defense and Counterclaim from the date of delivery of Statement of Claim.

Step 5 : Hearings
Oral hearings take place within 30 days from the date of submission of written pleadings.

Step 6 : Award
Arbitration is concluded in 180 days and award is given 60 days.