FICM-MCN AD HOC SERVICES
In addition to the administration of arbitral proceedings, the FICM-MCN provides certain ad hoc services. These include:
- appointments of arbitrators, auditors or evaluators;
- decisions on challenges to arbitrators;
- fund holding;
- legalization and notarization of arbitral awards; and
- appointments and administration of cases under the UNCITRAL Arbitration Rules.
The FICM-MCN will request payment of the service fee when confirming the application. The basic fee is USD 2,000 (excl. GST).
The following applies to fund holding:
- Funds can only be held in USD.
- Funds are held in a dedicated account.
- When deposits are made, the FICM-MCN informs the parties and tribunal.
- The FICM-MCN provides a financial summary periodically and upon request.
- Funds are disbursed on the order of the tribunal.
- The FICM-MCN invoices the tribunal for the fundholding services.
- The annual fee is USD 2,000 (excl. GST).
