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Re: None

Tuesday, 03/22/2005 12:59:26 PM

Tuesday, March 22, 2005 12:59:26 PM

Post# of 433022
The Terms of Reference become operative once they have been signed by the parties and the arbitrators, or have been approved by the Court where a party has failed to sign them. The Arbitral Tribunal must then proceed to establish the facts of the case. When it is satisfied that the parties have had a reasonable opportunity to present their cases, the Arbitral Tribunal declares the proceedings closed and proceeds to draft an Award, indicating to the Secretariat the approximate date by which the draft award will be submitted to the Court. The award is rendered within six months from the signature or approval of the Terms of Reference, a time-limit which the Court may extend.

Rules governing the proceedings

The parties and arbitrators are free to fix the rules of procedure to be applied in the arbitration, subject to any mandatory provisions that may be applicable. The parties may determine, for instance, whether and to what extent discovery or cross-examination will be allowed. The Arbitral Tribunal proceeds within as short a time as possible to establish the facts of the case by all appropriate means. The parties have the right to be heard; the tribunal may also decide to hear witnesses and experts, and may summon any party to provide additional evidence.




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