SCHEDULE OF ARBITRATION COSTS

OF THE PACIFIC INTERNATIONAL ARBITRATION CENTRE (PIAC)

In force as from June 1 2014 and applicable to arbitral proceedings commenced from June 1 2014

(Under Decision No 02/PIAC dated June 1 2014 of the President of PIAC) 

I.  Basis of calculation:

1.  For Requests for Arbitration and Counterclaims specifying the monetary value in dispute:

1.1. For disputes resolved by an Arbitral Tribunal comprising of three Arbitrators:

Unit: VND

1.2. For disputes resolved by a Sole Arbitrator, the arbitration costs shall be of 70% of the  arbitration costs mentioned in Section 1.1 for the same value in dispute.

1.3. Value in dispute in foreign currency shall be converted into Vietnamese Dong (VND) at the transfer exchange rate applied by Vietcombank at the time of submission of the Request for Arbitration or Counterclaim.

2. For Requests for Arbitration and Counterclaims without the monetary value in dispute, the President of the PIAC shall fix the arbitration costs in consideration of the dispute’s nature, the time required for dispute settlement and the number of Arbitrators.

3. For Requests for Arbitration and Counterclaims which include both monetary valued requests and non-monetary valued requests, the arbitration costs for those requests shall be calculated pursuant to the above-mentioned Items 1 and 2, respectively.

4. The arbitration costs in the above-mentioned Items 1, 2 and 3 shall not include travelling, accommodationand other relevant expenses for Arbitrator(s) who resolve the dispute and secretarie(s) of the hearings, expenses for inspection and valuation of assets, expenses for seeking expert advice, and expenses for other assistance at the request of the Arbitral Tribunal.

5. The regulations of the above-mentioned Items 1, 2, 3 and 4 shall apply to the amendment and/or supplement to Requests for Arbitration and Counterclaims which increases the value in dispute.

II. The Refunding:

The arbitration costs shall be refundable in the following circumstances:

1. Withdrawal of the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim:

a.  Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn before the constitution of the Arbitral Tribunal, 70% of the arbitration costs is refundable;

b.  Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn after the constitution of the Arbitral Tribunal, 40% of the arbitration costs is refundable.

c.  Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn after the Centre has sent the summon to the hearing, but before the date of the hearing, 20% of the arbitration costs is refundable.

2. Where the Arbitral Tribunal makes the Decision staying the dispute resolution in accordance with clause 1(đ) Article 28 of the applicable PIAC’s Rules of Arbitration, 30% of the arbitration costs is refundable.

3. Where the Arbitral Tribunal makes the Decision staying the dispute resolution in accordance with clause 1(e) Article 28 of the applicable PIAC’s Rules of Arbitration, 20% of the arbitration costs is refundable.

4. In no circumstances, the remaining arbitration costs are less than VND 8.000.000.