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CS Professional · Arbitration, Mediation and Conciliation · Emerging Aspects: Fast Track and Virtual Arbitration

Having agreed to fast track arbitration, Tara Retail Ltd and Hind Fabrics Ltd wish to settle the arbitrator's fees. Which statement is correct under Section 29B?

Fees and the manner of payment are whatever is agreed between the arbitrator and the parties, as stated in Section 29B(6). The section sets no schedule, and neither the Court nor the parties alone fix the fees.

  1. AFees are fixed by the Court in all fast track cases
  2. BFees and manner of payment are as agreed between the arbitrator and the partiesCorrect
  3. CFees are fixed by the parties alone without the arbitrator's agreement
  4. DFees must follow a statutory schedule fixed in Section 29B

Explanation

Section 29B(6) provides that fees payable to the arbitrator and the manner of payment shall be as may be agreed between the arbitrator and the parties. It involves the arbitrator's agreement too, so fixing by parties alone is wrong. Section 29B contains no schedule or Court fixation.

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