Arbitration Fees
The fee of the arbitral tribunal governed shall be ordinarily in accordance with the fourth schedule and as per the provisions of arbitration and concilitiation act, 1996, as amended.
*Provided that the parties shall be free to determine their own fee structure in consultaion with the Arbitrator
| 1[THE FOURTH SCHEDULE | ||
| 2[See section 11(3)A] | ||
| Sl. No. | Sum in dispute | Model fee |
| (1) | (2) | (3) |
| 1. | Upto Rs. 5,00,000 | Rs. 45,000 |
| 2. | Above Rs. 5,00,000 and upto Rs. 20,00,000 | Rs. 45,000 plus 3.5 per cent. of the claim amount over and above Rs. 5,00,000 |
| 3. | Above Rs. 20,00,000 and upto Rs. 1,00,00,000 | Rs. 97,500 plus 3 per cent. of the claim amount over and above Rs. 20,00,000 |
| 4. | 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 |
| 5. | 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. 1,00,00,000 |
| 6. | 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 twenty-five per cent. On the fee payable as per the above.] | ||