Fees of arbitrator #bestcriminallawyer #topcriminallawyerinkolkata #bestdivorcelawyerinkolkata

#feesofarbitrator #arbitrationandconciliationact1996 #bestcriminallawyer #topcriminallawyerinkolkata #bestdivorcelawyerinkolkata

A pressing issue in regard to arbitration and conciliation act 1996 is the exorbitant amount that is charged by arbitrators, and it is seen, many a time that the fees charged by the arbitrator, after the completion of the entire arbitral proceeding has culminated into an amount that has become more than the amount in dispute, such scenarios used to happen often and that had made arbitration a road, that was generally not taken by the pocket-light litigants. The arbitration and conciliation act 1996 has then, by virtue of the Arbitration and Conciliation(Amendment) Act,2015 w.e.f 23.10.2015, brought in the fourth schedule of the arbitration and conciliation act 1996 which goes onto refer the model fees that should generally be charged for apposite matters.

The subject matter of fees in regard to the arbitrators is a topic of intense debate, and by virtue of arbitration and conciliation act 1996, and it’s fourth schedule the debate has been always in the forefront, the exorbitant fees being charged by retired judges always being in question. The Supreme Court had gone on to hold that such exorbitant fees would not be commensurate with the dispute adjudication [ (2009) 4 SCC 523] and it was discussed that when retired judges are appointed as arbitrators, without indicating the fees, both, or at least one of the parties, is at a disadvantage. The parties feel constrained to agree to whatever fees is suggested by the arbitrator , thereafter if one party cannot pay such a fee, they feel reluctant to say that out loud because they feel there may be a very slight chance of being prejudiced if they show their recalcitrance to the fees suggested.