Arbitration Act (Cap. 387)
Arbitration Act (Cap. 387), article 53
53. (1) The arbitral tribunal, on its establishment, may request
each party to deposit with the Centre an equal sum between them as
an advance payment for the costs referred to in paragraphs ( a), ( b)
and ( c) of article 50.
(2) During the course of the arbitral proceedings the arbitral
tribunal may request from the parties supplementary deposits to
cover further costs.
(3) The arbitral tribunal shall fix the amounts of any deposits
or supplementary deposits only after consultation with the Cent re
which may make to the arbitral tribunal any comments which it
deems appropriate concerning the amount of such deposits and
supplementary deposits.
(4) If the required deposits are not paid in full within thirty
days from the receipt of the request, the arbitral tribunal sha ll so
inform the parties in order that any one of them may make the
required payment. If such payment is not made, the arbitral tri bunal
may order the suspension or termination of the arbitral
proceedings.
(5) After the award has been made, the arbitral tribunal shall
render an account to the parties of the deposits received and r eturn
to the parties any unexpended balance.
Place of arbitral
proceedings.
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