Amount in Dispute | Arbitrator’s Fee |
---|---|
Up to $50,000 | $3,000 |
From $50,001 to $100,000 | $3,000 + 7.5% excess over $50,000 |
From $100,001 to $500,000 | $6,750 + 3.5% excess over $100,000 |
From $500,001 to $1,000,000 | $20,750 + 2.75% excess over $500,000 |
From $1,000,001 to $2,000,000 | $34,500 + 1.25% excess over $1,000,000 |
From $2,000,001 to $5,000,000 | $47,000 + 0.55% excess over $2,000,000 |
From $5,000,001 to $10,000,000 | $63,500 + 0.32% excess over $5,000,000 |
From $10,000,001 to $50,000,000 | $79,500 + 0.16% excess over $10,000,000 |
From $50,000,001 to $80,000,000 | $143,500 + 0.07% excess over $50,000,000 |
From $80,000,001 to $100,000,000 | $164,500 + 0.05% excess over $80,000,000 |
From $100,000,001 to $500,000,000 | $174,500 + 0.03% excess over $100,000,000 |
Above $500,000,001 | $294,500 + 0.02% excess over $500,000,000 up to a maximum of $2,000.000 |
Amount In Dispute (USD) | Administrative Costs (USD) |
---|---|
Up to $50,000 | $1,500 |
From $50,001 to $100,000 | $1,500 + 1.15% excess over $50,000 |
From $100,001 to $500,000 | $2,075 + 0.65% excess over $100,000 |
From $500,001 to $1,000,000 | $4,675 + 0.5% excess over $500,000 |
From $1,000,001 to $2,000,000 | $7,175 + 0.35% excess over $1,000,000 |
From $2,000,001 to $5,000,000 | $10,675 + 0.13% excess over $2,000,000 |
From $5,000,001 to $10,000,000 | $14,575 + 0.08% excess over $5,000,000 |
From $10,000,001 to $50,000,000 | $18,575 + 0.05% excess over $10,000,000 |
Above $50,000,001 | $38,575 (maximum) |
Amount In Dispute (JMD) | Arbitrator’s Fees (JMD) |
---|---|
Up to $2,000,000 | $150,000 |
From $2,000,001 to $5,000,000 | $150,000 + 10% of excess over $2,000,000 |
From $5,000,001 to $10,000,000 | $450,000 + 12.5% of excess over $5,000,000 |
From $10,000,001 to $20,000,000 | $1,075,000 + 15% of excess over $10,000,000 |
From $20,000,001 to $50,000,000 | $2,575,000 + 17.25% of excess over $20,000,000 |
From $50,000,001 to $75,000,000 | $7,750,000 + 12% of excess over $50,000,000 |
From $75,000,001 to $120,000,000 | $10,750,500 + 8.75% of excess over $75,000,000 |
From $120,000,001 to $150,000,000 | $14,688,000 + 5.25% of excess over $120,000,000 |
From $150,000,001 to $240,000,000 | $16,263,000 + 3.45% of excess over $150,000,000 |
From $240,000,001 to $300,000,000 | $19,368,000 + 2.15% of excess over $240,000,000 |
From $300,000,001 to $1,500,000,000 | $20,658,000 + 0.75% of excess over $300,000,000 |
Above 1,500,000,000 | $29,658,000 + 0.05% of excess over $1,500,000,000 up to a maximum of $50,000,000 |
Amount In Dispute (JMD) | Administrative Costs (JMD) |
---|---|
Up to $2,000,000 | $5,000 |
From $2,000,001 to $5,000,000 | $50,000 + 3.5% excess over $2,000,000 |
From $5,000,001 to $20,000,000 | $155,000 + 2.25% excess over $5,000,000 |
From $20,000,001 to $50,000,000 | $492,500 + 1.75% excess over $20,000,000 |
From $50,000,001 to $75,000,000 | $1,017,500 + 1.25% excess over $50,000,000 |
From $75,000,001 to $120,000,000 | $1,330,000 + 0.75% excess over $75,000,000 |
From $120,000,001 to $150,000,000 | $1,667,000 + 0.35% excess over $120,000,000 |
From $150,000,001 to $240,000,000 | $1,772,000 + 0.15% excess over $150,000,000 |
Above $240,000,001 | $1,907,000 (maximum) |
Arbitration Type | Costs |
---|---|
International Arbitration | $1,500.00 USD |
Domestic Arbitration | $150,000.00 JMD |
Arbitration Type | Costs |
---|---|
International Arbitration | $7,000.00 USD |
Domestic Arbitration | $750,000.00 JMD |
Schedule 2 – Emergency Arbitrator
Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof shall be settled by arbitration in accordance with the JAIAC Arbitration Rules.
Parties wishing to substitute an existing arbitration clause for one referring the dispute to arbitration under the JAIAC Arbitration Rules may adopt the following form of agreement:
“The parties hereby agree that the dispute arising out of the contract dated _____________ shall be settled by arbitration under the JAIAC Arbitration Rules.”
This form may also be used where a contract does not contain an arbitration clause.