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 ?
madhukar paranjape (Advocate) 05 January 2011
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 ?
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