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Fees
Bombay Chamber of Commerce and Industry Arbitration – Schedule of Fees
| Sr. No. | FEES FOR ARBITRATORS [Per Arbitrator] : |
Amount (Rs.)
|
Amount (Rs.)
(inclusive of GST @ 18%)
|
|---|---|---|---|
| 1 | Fees for Arbitrators | ||
| For each sitting |
80,000/- |
94,400/- |
|
| Cost of adjournment |
4,000/- |
4,720/- |
|
| For making the Award and administrative charges |
15,000/- |
17,700/- |
|
| 2 | Administrative Charges of Chamber | ||
| Processing charges per case to be paid at the time of reference of the case |
12,500/- |
14,750/- |
|
| Services Charges for each sitting |
25,000/- |
29,500/- |
|
| Adjournment Charges |
2,500/- |
2,950/- |
|
| 3 | DEPOSIT to be paid by each party to the dispute : | ||
| Advance Payment |
1,07,500/- |
1,26,850/- |
|
| Before the third and before every subsequent alternate sitting (expenses for 2 meetings) |
1,90,000/- |
2,24,200/- |
|
NOTES :
| 1. | For more than one Arbitrator, the deposit payable will be proportionate to the number of Arbitrators. |
| 2. | The processing charges will be non-refundable and the administrative charges will be paid irrespective of whether the case is finalized or not. |
| 3. | The entire arbitration charges are payable to the Chamber by each party to the dispute on equal sharing basis. In the event of either of the parties to the dispute not honouring their commitments, the other party will have to pay the entire amounts for the deposit, administrative and other charges. |
| 4. | In the event of the arbitration proceedings during a particular meeting lasting beyond three hours, additional charge for one meeting will be payable. |
