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Advance and Final Deposits - Article 37 - Chamber of Arbitration of Milan Rules: A Commentary

 
Price:
$40.00
Author: Benedetta Coppo
Page Count: 14
Published: April 2012
Media Desc: PDF from "Chamber of Arbitration of Milan Rules: A Commentary"
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Description

Originally from:
Chamber of Arbitration of Milan Rules: A Commentary - Hardcover
Chamber of Arbitration of Milan Rules: A Commentary - Electronic


 

ART. 37 – ADVANCE AND FINAL DEPOSITS

1. When the request for arbitration and the statement of
defence are filed, the Secretariat shall direct the parties to
make an advance on the costs of the arbitration, setting a
time limit for the parties to make it.
2. The Secretariat may direct the parties to make further
advances in relation to work done or to any change of the
amount in dispute, setting a time limit for these advances.
3. The Secretariat shall direct the balance of the costs of the
proceedings based on the final determination of the
Arbitral Council and before the award is filed, setting a
time limit for the payment of the balance.
4. The payments contemplated by paragraphs 1, 2 and 3 shall
be made by all the parties in equal shares where the
Secretariat determines a single value for the dispute,
totalling all the claims filed by the parties. Where the
Secretariat determines different values of the dispute in
relation to the claims of the parties, it shall direct each
party to pay the full amount of the advance relating to its
claim, as determined in accordance with paragraphs 1, 2
and 3.
5. For the purpose of these payments, the Secretariat may
consider several parties as one, taking into account the
manner in which the Arbitral Tribunal is constituted or the
mutual interests of the parties.
6. If a party so requests, and gives reasons for this request, the
Secretariat may accept a bank or insurance guarantee for
the amounts set at paragraphs 1, 2 and 3, setting terms and
conditions.

1. Introductory remarks

1.1. Under the Milan Rules, the parties advance the costs of the
arbitration. Article 37 makes reference to the costs of the case, which are
defined in Article 36.4 and are composed of the fees of the Chamber, the
Arbitral Tribunal, its Expert, as well as their expenses. Para. 1, 2 and 3 of
Article 37 regulate when the costs are paid. Para. 4 and 5 then define
who makes the deposits. Finally, Article 37.6 rules on the means by
which the deposits can be made. Any lack of payment leads to the
application of Article 38.

Table of Contents

SUMMARY:
1. Introductory remarks
2. When is the advance paid?
3. Who pays the costs?
4. How are the costs paid

Author Detail

BENEDETTA COPPO is Head-officer in charge of the Arbitration
Department of the Milan Chamber of Arbitration. She has been
administering more than 150 arbitrations, both domestic and
international, in English, French and Italian. She coordinated and took
part in the 2010 revision of the Rules of the CAM on behalf of the
Secretariat. Benedetta pens articles and speaks at conferences and
training courses on institutional arbitration, in Italy and abroad. She has
been Italy country-reporter for “ITA Arbitration Report” since 2006, and
has led the four editions of the “Milan pre-Moot”, preparatory to the
“Willem C. Vis Arbitration Moot”.

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