LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

madhukar paranjape (Advocate)     05 January 2011

Fees of Arbitrator

Arbitration  & Conciliation Act of 1996, provides  no  stipluation regarding fees of Arbitrator.    What is expected is that the fees should be reasonable.    How to decide what is reasonable  ?



Learning

 3 Replies

jikku George Jacob (In house Counsel)     05 January 2011

It is based on the whims and fancies.The following are the heads

Sitting fees

Reading fees for the claim petition

writing award

misc expenses

The fee  has to be calculated on the  % on the calim and in that case the fees can be reduced and I have seen in one case the fees is on the higher side than the claim and the party settling the dispute outside the arbitration

madhukar paranjape (Advocate)     06 January 2011

Thanks.   I wanted to know whether there exists any ruling by any High Court,  at least giving guidance as to how to decide the reasonability of the fees.  As fr as I know there is no cap on fees in the Arbitration Act.   But it provides for deciding by the Court, as to what would be the reasonable fees...   madhukar paranjape

Isaac Gabriel (Advocate)     16 June 2011

Arbitration is a private law practice just like a doctor.Fees is also negotiable thogh no restriction or limit has been prescribed.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register