FAI ExpArb FAI Expedited Arbitration Rules 2024
FAI ExpArb
FAI Expedited Arbitration Rules 2024
48.1 The parties shall pay an advance on costs fixed by the Institute. The Institute shall transmit the case file to the sole arbitrator once the advance on costs has been paid.
48.2 The amount of the advance on costs shall correspond to the expected costs of the arbitration pursuant to Article 47.2(a)–(d). Detailed provisions on the advance on costs fixed by the Institute are contained in Article 2 of Appendix II.
48.3 The Institute shall cover the costs of the arbitration referred to in Article 47.2(a)–(d) from the advance on costs after the rendering of the final award, consent award or order for the termination of the arbitration. Any amount paid by the parties as an advance on costs that exceeds the costs of the arbitration determined by the Institute shall be reimbursed to the parties.
48.4 The Institute may draw on the advance on costs to cover the costs of the arbitration referred to in Article 47.2(b)–(c) during the arbitration upon a reasoned request of the sole arbitrator.
Imported: