Fees

Draft Fee Note For Domestic Arbitration for a 180 days Slot on a Fixed Fees Basis to the Arbitrator and his Professional Secretary.

(1) A fixed fees of Ringgit Malaysia Ninety Thousand to be paid to the arbitrator as a fixed fee for a 180 days slot. An additional fee of Ringgit Malaysia Twenty Thousand to be paid to the Professional Secretary to be appointed by the arbitrator whose firm shall act also as stakeholder’s solicitors in this matter in respect of fees only.

(2) The payment schedule of fees to the arbitrator shall be in the following order:

(a)Ten Percent of the fee sum amounting to Ringgit Malaysia Nine Thousand to be Paid directly to the arbitrator upon both parties having agreed to appoint the arbitrator as per this draft fee note.

(b) Forty Percent of the fee sum amounting to Ringgit Malaysia Thirty-Six Thousand to be paid to the arbitrator-one week before the case management date.

(c) The balance Fifty Percent of the fee amounting Ringgit Malaysia Forty-Five Thousand to be deposited with the Solicitor’s firm of the Professional Secretary as stakeholders and be released to the arbitrator after 180 days of the first case management date.

(d) If parties are not able to complete their case and submission within 180 days from the case management date then each additional date for completion, the arbitrator shall be paid Ringgit Malaysia Five Hundred per day. And the arbitrator shall deliver the award within 30 days from completion of the submission with a grace of 60 days extension for the completion of the award.

(e) The arbitrator is only obliged to release the award to the parties upon full settlement of his fees and/or charges as per this Fee note or as has been agreed by the parties in writing.

(f) Notwithstanding the extension of the time period of the 180 days slot the balance 50 per cent fees held by the stakeholders’ solicitors must be released to the arbitrator at the end of 180 days slot or at the discretion of the arbitrator to accept it upon the completion of the award.

(3) The payment schedule for the Professional Secretary shall be as follows:

(a) Ten Percent of the fee sum amounting to Ringgit Malaysia Two Thousand to the Professional Secretary at the time of payment 2(a) as per the direction of the arbitrator.

(b) Forty Percent of the fee sum amounting to Ringgit Malaysia Eight Thousand to be paid to the Professional Secretary-one week before the case management date.

(c) The balance Fifty Percent of the fee amounting Ringgit Malaysia Ten Thousand to be deposited with the Solicitor’s firm of the Professional Secretary as stakeholders and be released to the Professional Secretary after 180 days of the first case management date.

The Professional Secretary’s fees will include the fees and charges for holding any payments as stakeholders for the arbitration proceedings and attending all proceedings .His services will include communicating to all parties to the arbitration proceedings as per the general and specific directions of the arbitrator as well as to facilitate and assist all parties to expeditiously and economically dispose of the arbitration within 180 days or other extended period agreed by the parties and arbitrator. And if the number of days the 180 days slot is extended the Professional Secretary shall be paid Ringgit Malaysia One Hundred Ringgit per day.

(4) The 180 days slot shall start from the first case management date. The pleadings, exchange of documents, witness statements etc are to be completed within 90 days from the first case management date. The hearing date shall be fixed in the first case management date and the hearing to be completed within 120 days from the first case management date. Submission shall be completed within 150 days from the case management date. The award must be ready for delivery within 180 days from the first case management date with a grace of 60 days extension to complete the award.

(5) Other support services and charges such as hearing rooms, translators, transcribers etc are to be borne by the parties and the Professional Secretary may assist the parties on all these matters as far as practicable. All such agreements can be informed in the first case management date itself. If the venue of arbitration is not within Klang Valley transport and hotel accommodation charges etc must be paid to the arbitrator as well as Professional Secretary in advance.

(6) The Professional Secretary shall be a practicing Solicitor.

(7) The 180 days slot shall comprise the following:-

(a) 5 days of Hearing wherein each Hearing Day shall be at a maximum of 6 hours;

(b) 2 Interlocutory Applications; and

(c) for every additional day of Hearing inclusive of Interlocutory Hearings, the arbitrator’s fee shall be Ringgit Malaysia Five Thousand and Ringgit Malaysia One Thousand as the fee in respect of the Professional Secretary.

(8) Fees and charges etc need to be agreed by all parties at the time of appointment of the arbitrator or soon thereafter before the payment of the ten percent of the fee sum to the arbitrator.