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

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

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. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

One of the parties to the dispute who wants legal remedy for remedy for resolving dispute could apply for arbitration. On other words clients, trading member can apply for arbitration.

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes.

When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

Is there any appeal provision for arbitration at the Exchange?

Is there any appeal provision for arbitration at the Exchange?
Is there any appeal provision for arbitration at the Exchange?

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 before filing the appeal and such amount shall be kept with the Exchange in abeyance and shall be disposed of eventually as per the direction of court.

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. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

One of the parties to the dispute who wants legal remedy for remedy for resolving dispute could apply for arbitration. On other words clients, trading member can apply for arbitration.

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

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

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 as deemed fit by him/her.

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. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes.

When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

Can a party request for a hearing in case the claim difference or dispute is a small amount?

Can a party request for a hearing in case the claim difference or dispute is a small amount?
Can a party request for a hearing in case the claim difference or dispute is a small amount?

No hearing is afforded to the parties to the dispute if the value of the claim difference or dispute is Rs.One lahh or less.

However, if the value of claim, difference or dispute is more than Rs.One lakh, the arbitrator shall offer to hear the parties to the dispute unless both parties waive their rights for such hearing in writing.

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. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

It is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange.

Arbitration aims at quicker legal resolution for the disputes. When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

How is an Arbitrator appointed?

How is an Arbitrator appointed?
How is an Arbitrator appointed?

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 the parties, to one or more arbitrators who make a binding decision on the dispute.

In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes.

When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

What is the limitation period for filing an application for arbitration in the event of there being a claim ?

What is the limitation period for filing an application for arbitration in the event of there being a claim ?
What is the limitation period for filing an application for arbitration in the event of there being a claim ?

An application for arbitration has to be filed within 3 years from last transactions or delivery or payment.

 

 Arbitration is a procedure in which a dispute is submitted, byagreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange.

Arbitration aims at quicker legal resolution for the disputes. When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

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

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

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, is refunded to the parties.

The costs, if any, to be awarded to either of the parties in addition to the fees and charges that have to be borne by the parties for conducting the arbitration, shall be decided by the Arbitrator.

Unless the arbitrator directs otherwise, each party shall bear their own expenses of traveling and other incidental expenses incurred.

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. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

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

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

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 an applicant or respondent then he/she is required to furnish deposit to the Exchange based on the claim amount as under:
No. Amount of claim Amount of Deposit
1 Upto Rs.5,00,000/- Nil*
2 Rs.5,00,000/- to Rs.25,00,000/- Rs.8,000
3 Rs.25,00,000/- and above Rs.14,000

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes.

When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.

Where can client file arbitration against the trading member?

Where can client file arbitration against the trading member?
Where can client file arbitration against the trading member?

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 on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes. When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration