The dispute may be solved by one or three arbitrators, depending on the choice of the parties. If the Arbitral Tribunal shall consist of three arbitrators, each party appoints one arbitrator who will in-turn appoint the third arbitrator. SARCO can also appoint the panel of arbitrators on the request of the parties. If the Arbitral Tribunal shall consist of one arbitrator the parties will be given an opportunity to jointly appoint the arbitrator.
We recommend that the parties are represented by their legal counsel(s) during the arbitration.
A final award shall be made within 6 months under the SAARC Arbitration Rules.
The arbitration costs (i.e. the fees to the arbitrators and the administrative fee) is based on the amount in dispute consisting of the total value of all claims, counterclaims and set-offs.
Please visit our Fee Structure for different levels of arbitration fees and administrative expenses.