Can the parties to the dispute request for interest on the claim amount?

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The arbitrator may include interest on the claim amount for which the award is made at a particular rate of interest and period as the arbitrator deems reasonable. Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute…. Read more »

Is there any appeal provision for arbitration at the Exchange?

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There any appeal provision for arbitration at the Exchange. However, a party to the reference who is dissatisfied with an award of the arbitration may challenge the same before the competent court of jurisdiction as provided in the Arbitration Act. However party to the reference shall have to deposit the amount of award with the Exchange… Read more »

Can the Sole Arbitrator or Panel of Arbitrators grant an adjournment of hearing?

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Yes, if either of the parties want an adjournment of hearing, they should make an application in writing to the Exchange giving reasons for seeking adjournment to the Exchange in advance to enable the Exchange to forward such request to the arbitrator. The arbitrator at his/her discretion may grant the adjournment subject to such conditions… Read more »

How is an Arbitrator appointed?

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If the value of claim made by the Applicant or counter claim made by the other party is less than or equal to 10 lakh, sole Arbitrator is appointed. If the value is more than Rs. 10 lakh, panel of three Arbitrator constituted. Arbitration is a procedure in which a dispute is submitted, by agreement of… Read more »

What are the other fees, charges, costs to be borne by the parties to the dispute?

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All fees and charges relating to the appointment of the arbitrator and conduct of arbitration proceedings shall be borne by the parties to the reference equally or in such proportions as may be decided by the Arbitrator. Such fees/charges are recovered from the deposits made while filing the arbitration application & balance amount, if any,… Read more »

What is the amount of arbitration fee to be deposited with the Exchange for filing an application for arbitration?

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Based on the claim amount, the trading member is required to furnish deposit to the Exchange whether they are an applicant or a respondent. No. Amount of claim Amount of Deposit 1 Upto Rs.5,00,000/- Rs.8,000 2 Rs.5,00,001 to Rs.25,00,000/- Rs.10,000 3 Rs.25,00,000/- and above Rs.14,000 In case an investor (constituent of the trading member) is… Read more »

Where can client file arbitration against the trading member?

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The application for arbitration has to be filed at the Regional Arbitration Centre (RAC) viz. Mumbai, Delhi, Kolkata or Chennai covering the state in which in which the constituent ordinary resides. Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision… Read more »