| 38. |
Currency and Interest |
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| 38.1. |
The Tribunal may make an award in any currency as it considers just. |
| 38.2. |
The Tribunal may award simple or compound interest on any sum awarded at such rate or rates and in respect of such period or periods ending not later than the date of the award as the Tribunal considers just. | |
| 39. |
Additional Award |
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| 39.1. |
Within 30 days after the receipt of the award, either party, with notice to the other party, may request the Tribunal to make an additional award as to claims presented in the arbitral proceedings but omitted from the award. |
| 39.2. |
If the Tribunal considers the request for an additional award to be justified and considers that the omission can be rectified without any further hearings or evidence, it shall notify all the parties within 7 days of the receipt of the request, that it will make an additional award, and complete the additional award within 60 days after the receipt of the request. | |
| 40. |
Correction of Awards and Additional Awards |
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| 40.1. |
Within 30 days of receiving an Award, unless another period of time has been agreed upon by the parties, a party may by notice to the Tribunal request the Tribunal to correct in the Award, any errors in computation, any clerical or typographical errors or any errors of similar nature. |
| 40.2. |
If the Tribunal considers the request to be justified, it shall make the correction(s) within 30 days of receiving the request. Any correction shall be notified in writing to the parties and shall become part of the Award. |
| 40.3. |
The Tribunal may correct any error of the type referred to in Rule 40.1 on its own initiative within 30 days of the date of the Award. | |
| 41. |
Settlement |
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| 41.1. |
If, before the Award is made, the parties agree on a settlement of the dispute, the Tribunal shall either issue an order for the termination of the arbitral proceedings or, if requested by both parties and accepted by the Tribunal, record the settlement in the form of an arbitral award on agreed terms. The Tribunal is not obliged to give reasons for such an award. |
| 41.2. |
The parties shall:
- notify the Tribunal and the Registrar immediately if the arbitration is settled or otherwise terminated;
- make provision in any settlement for payment of all the costs of the arbitration and fees due to the Chamber and any expenses of the Tribunal.
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| 41.3. |
If the continuation of the arbitral proceedings becomes unnecessary or impossible for any reason not mentioned in Rule 41.1, before the award is made, the Tribunal shall inform the parties of its intention to issue an order for the termination of the proceedings. The Tribunal shall have the power to issue such an order unless a party raises justifiable grounds for objection. |
| 41.4. |
Copies of the order for termination of the arbitral proceedings or of the arbitral award on agreed terms, signed by the Tribunal, shall be communicated by the Tribunal to the parties. | |
| 42. |
Costs |
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| 42.1. |
The Tribunal shall specify in the final Award, the costs of the arbitration and decide which party shall bear them and in what proportion they shall be borne. |
| 42.2. |
In this Rule, "costs of the arbitration" shall include:
- The fees of the Tribunal and the Chamber as determined by the Registrar in accordance with the Schedule of Fees;
- The costs of expert advice or of other assistance rendered; and
- All expenses which are reasonably incurred by the Chamber in connection with the arbitration.
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| 42.3. |
The Tribunal has power to order in its Award, that all or part of the legal or other costs of one party shall be paid by the other party. Such costs shall, unless the award otherwise fixes or directs, be taxable by the Registrar. | |
| 43. |
Waiver |
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A party which is aware of non-compliance with these Rules and yet proceeds with the arbitration without promptly stating its objection to such non-compliance, shall be deemed to have waived its right to object. |
| 44. |
Confidentiality |
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| 44.1. |
The parties and the Tribunal shall at all times treat all matters relating to the arbitration (including the existence of the arbitration) and the award as confidential. A party or any arbitrator shall not, without the prior written consent of the other party or the parties, as the case may be, disclose to a third party any such matter except:
- for the purpose of making an application to any competent court;
- for the purpose of making an application to the courts of any State to enforce the award;
- pursuant to the order of a court of competent jurisdiction;
- in compliance with the provisions of the laws of any State which is binding on the party making the disclosure; or
- in compliance with the request or requirement of any regulatory body or other authority which, if not binding nonetheless would be observed customarily by the party making the disclosure.
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| 44.2. |
The Chamber may however publish any award made under these Rules in any form provided that the names or identities of the parties shall not be disclosed without the consent of all the parties. | |
| 45. |
Exclusion of Liability |
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| 45.1. |
The Tribunal, the Chairman, the Chamber and any of its officers, employees or agents shall not be liable to any party for any act or omission in connection with any arbitration conducted under these Rules, unless the act or omission is shown to have been in bad faith. |
| 45.2. |
After the Award has been made and the possibilities of correction and additional Awards referred to in Rule 42 have lapsed or been exhausted, neither the Tribunal nor the Chairman shall be under any obligation to make any statement to any person about any matter concerning the arbitration, and no party shall seek to make any arbitrator or the Chairman or the Chamber a witness in any legal proceedings arising out of the arbitration. | |
| 46. |
Small Claims Procedure |
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| Application |
| 46.1. |
The expedited procedure set out in this Rule shall apply if the aggregate amount of the claim and/or counterclaim in dispute is less than US$75,000 or is unlikely to exceed US$75,000. |
| 46.2. |
This Rule may also apply to any claim in excess of US$75,000 if the parties agree in writing that the claim shall be dealt with under this Rule. |
| 46.3. |
This Rule shall not apply if the parties expressly agree that this Rule shall not apply to that arbitration. |
Time Abridgment |
| 46.4. |
For the purposes of service of case statements referred to in Rule 6, the time limit for each statement shall be reduced to 14 days. |
Summary Determination |
| 46.5. |
The Tribunal shall upon receipt of the file from the Registrar under Rule 22.1 proceed to give directions for the determination of the matters in issue summarily. |
| 46.6. |
Unless the Tribunal so requires, there shall be no oral hearing. Oral hearing if so directed shall be held for arguments only and the Tribunal may allocate and limit the time for such hearing to a maximum of 2 days. |
| 46.7. |
Unless the Tribunal requires the production of any document or class of documents it considers relevant for the determination of the matters in dispute, no party may seek any order for discovery, further particulars or interrogatories. |
| 46.8. |
The Tribunal may draw such inferences from any document disclosed or not disclosed as the Tribunal deems appropriate. |
Time for Making Award |
| 46.9. |
The Tribunal shall issue the award within 21 days from the date of receipt of the file from the Registrar or if there be an oral hearing from the close of the oral hearing. |
| 46.10. |
No reason need be given for an award made under this procedure. |
Applicability of Rules |
| 46.11. |
Save as expressly provided for or modified by this Rule, all other provisions of the Rules shall apply mutatis mutandis to arbitration under the procedure set out in this Rule. | |
| 47. |
Amendment to Rules |
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These Rules may from time to time be amended by the Chairman acting on the advice of the SCMA Advisory Committee. |
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