AMCC

Fundholding

Security

Parties in non-AMCC cases may request the AMCC act as fundholder, to hold and disburse advances in relation to arbitration, mediation, adjudication or other ADR process costs. A new request for fundholding will only be considered upon submission of the following information to the AMCC: 

  • The full names and contact details (including postal address, e-mail address, telephone and facsimile numbers, if any) of all parties, and the same particulars of the parties legal representatives (if any);
  • The EU or other VAT registration numbers of any parties, or confirmation that the parties are not VAT registered (VAT may be due where no VAT number can be supplied);
  • The full names and contact details (including e-mail address, telephone and facsimile numbers) of all members of the Tribunal, including who appointed them, along with their agreed fee rates from the Terms of Appointment;
  • The seat of the arbitration;
  • Currency in which the funds are to be administered in (the AMCC can hold funds in BBD, USD, GBP, CAD, or EUR).

Where the AMCC is requested to hold security for fees and expenses on behalf of arbitrators, mediators and adjudicators, an administrative fee of BBD $1,000 (USD $500) per party per annum is payable on receipt of the funds and thereafter every year. Unless otherwise directed, all expenses and disbursements incurred in connection with the specific matter will be deducted from the funds held by the AMCC. A quarterly Statement will be sent to the arbitrator, mediator or adjudicator and the parties upon request. The AMCC shall not bear any liability in respect of funds held on behalf of the tribunal.

Where the AMCC is requested to hold security for the amount in dispute or security for costs as directed by an arbitrator, mediator or adjudicator, the AMCC's fee for acting as stakeholder is BBD $3,000 (USD $1,500) per annum, payable when the security for the amount in dispute or the security for costs is sent to the AMCC. Unless otherwise directed, all expenses and disbursements incurred in connection with the specific matter will be deducted from the funds held by the AMCC.