BIMAC offers excellent facilities for arbitration and mediation meetings, including two state-of-the-art meeting rooms with audio-aides and recording facilities, arbitrator’s chambers, and private consultation rooms. BIMAC provides all necessary business facilities like video conferencing, powerful multimedia projection; computer and internet access. Full-fledged managerial services and catering are also available on request. BIMAC’s library is gradually expanding, providing books and journals relevant to arbitration and mediation.
FEES AND SERVICES
BIMAC Advisory Service
BIMAC Advisory Service Fee- 2,000 to 5,000/-
BIMAC provides Advice on ADR in contracts/ Agreements prior to finalization and any other aspects of ADR
BIMAC Assessment Service
Assessment Fee- Tk. 2,000 /-
BIMAC assesses contracts and provide opinion on dispute settlement possibilities and steps to be followed
Registration Fee- Tk. 5,000 /-
Mediator’s Fee- Tk. 3,000 /- to Tk. 5,000 /- per hour
Registration Fee- Tk. 5,000 /-
Administrative Fee- Tk. 10,000/- + (Schedule 1 of BIMAC Arbitration Rules 2019)
Arbitrator’s Fee- Tk. 1, 00,000/- + (Schedule 1 of BIMAC Arbitration Rules 2019)
** Standard fees/charges are not dependable on whether the cases we administer are being done under BIMAC Rule or Court referred or ad-hoc. The fees are based on use of our facilities/services. However, we recommend Mediation/ Arbitration be carried under BIMAC Rules so that we can deliver the best services to the parties. Mediator’s fee will be approximately in between TK. 3,000- 10,000/- per hour. Usually mediation can be concluded within a day or two. BIMAC offers other services like photocopying, printing, multimedia, recording, interpreter, Transcription Service etc. with a minimal charge.
ADDITIONAL BIMAC SERVICES
FOR NON-INSTITUTIONAL ARBITRATION
BIMAC is prepared to offer specific services for non-institutional arbitration. A brief description of the services is provided below. Parties are free to choose individual elements of the services. Where the service is not listed or described, the requirements should be discussed with BIMAC staff to determine whether they can be preformed and the charge to be levied, if any. It is intended that these services will assist the Managements to the Arbitration Tribunals in the effective discharge of their duties.
Delivery of notices & documents: BIMAC will undertake to make copies of documents, as required, and circulate to intended addressees. At the same time, any notices or communication from the arbitrators or parties will be communicated immediately.
Mode of distribution: BIMAC will take all measures for delivery of notices and documents. Telephones, faxes, e-mail, courier, hand-delivery will be used as may be appropriate. Receipts of delivery will be maintained.
Safe-keeping of documents: BIMAC will offer facilities for safe-keeping of documents required for arbitration.
Calendar: BIMAC will maintain a calendar of the meetings, and the timelines for each stage of the arbitration process, and inform the arbitration tribunal and parties as may be required. As required, the meeting venue can be reserved and other facilities that may be desired can be arranged.
Assistance to the Tribunal: BIMAC can provide typing and other services to the Tribunal.
Award: BIMAC can assist in the copying and certification of the Awards.
Fund Holding Service: From the initial deposit onwards, BIMAC can maintain the accounts and provide proper accounts to the Arbitrators and to the parties concerned. All payments, including the Arbitrators’ fees and other charges, will be made by BIMAC, as per direction of the Arbitrators and established procedures. As and when additional funds are required, the parties will be informed well ahead of time along with a complete statement of accounts.
All services described above, except for the fund-holding service, can be provided by BIMAC for a total charge of Taka 5,000 for the full duration of the arbitration. For the Fund-holding Service, the charge will be Taka 5,000 per year. This extra charge will cover all bank charges, and keeping proper accounts of payments and receipts. Every six months, a full statement will be given to the parties and to the Tribunal.
Visa Service: When required, BIMAC will facilitate entry visas for foreigners coming for arbitration hearings at BIMAC.
BIMAC will make all necessary practical arrangements for:
1. any meetings and hearings, together with support services, such as interpretation, translation, recording, telephone, photo copying and video conferencing, as per request of the parties in an arbitration proceeding;
2. accommodation for parties and arbitrators coming from abroad;
3. proof-reading of draft Awards for typographical and clerical errors;
4. preparing and issuing certified copies of any Award, including notarizing, where required.
5. Charges may apply to these services; rates are available on request.
BIMAC Management will be pleased to assist parties in their arbitration proceedings, as may be desired by the parties.