No. P. 0703/2019 — In exercise of the powers conferred by sub-section (14) of Section 11, of the Arbitration and Conciliation Act, 1996 (Central Act 26 of 1996) and all other powers enabling it in this behalf, The High Court of Judicature at Bombay hereby makes the Bombay High Court (Fee Payable to Arbitrators) Rules, 2018.
- They shall apply to all the arbitrations under the Arbitration and Conciliation Act, 1996, in which the Arbitral Tribunal is appointed by the Bombay High Court.
- The fees payable to an Arbitral Tribunal shall be in accordance with the scales specified in the “Schedule”.
- Where the dispute includes both the claim and counterclaim, for the purposes of computing the fees of Arbitral Tribunal the ‘Sum in dispute’ shall be the total sum of both claim and counter claim in dispute, before Arbitral Tribunal.
- Subject to Section 38(2), Arbitrator’s fees payable under these rules shall be initially shared equally by the parties to the Arbitration, subject to the cost of the Arbitration as may be finally determined by the Arbitral Tribunal.
- When the proceedings are terminated on account of mutual settlement by the parties, fees payable shall be determined as:
Pleadings complete — 40% of the fees.
Hearing has commenced — 60% of the fees.
Hearing concluded but award yet to be paid — 80% of the fees.
Schedule of Fees of Arbitral Tribunal
|Sum in Dispute||Fees|
|Upto Rs. 5,00,000||Rs. 45,000|
|Above Rs. 5,00,000 and upto Rs. 20,00,000||Rs. 45,000 plus 3.5 percent of the claim amount over and above Rs. 5,00,000|
|Above Rs. 20,00,000 and Rs. 1,00,00,000||Rs. 97,500 plus 3 per cent of Claim
over and above Rs. 20,00,000
|Above Rs. 1,00,00,000 and upto Rs. 10,00,00,000||Rs. 3,37,500 plus 1 per cent of the Claim amount over and above Rs. 1,00,00,000|
|Above Rs. 10,00,00,000 and upto Rs. 20,00,00,000||Rs. 12,37,500 plus 0.75 per cent of the claim amount over and above Rs. 10,00,00,000|
|Above Rs. 20,00,00,000||Rs. 19,87,500 plus 0.5 per cent of the Claim
amount over and above Rs. 20,00,00,000 with
a ceiling of Rs. 30,00,000
Note — In the event, the arbitral tribunal is a sole arbitrator, he shall be entitled to an additional amount of twnety-five percent
on the fee as per the Table set out above.