Independent arbitration scheme

If you are involved in a dispute which falls outside the remit of the ICAEW’s disciplinary processes, or if we have dealt with issues of misconduct but an underlying commercial dispute remains unresolved, you may wish to invite the other party to try to resolve the dispute through the Institute’s independent arbitration scheme. As with all arbitrations, both parties must first agree to take this way forward.

We have worked with the Chartered Institute of Arbitrators to develop this scheme and the rules which apply.

What is arbitration?

Arbitration is a process in which both parties to a dispute ask an independent third party to make a ruling on the matter. The decision of the arbitrator is based on the submissions both parties make and is final and binding.

How does the Institute’s scheme work?

The Chartered Institute of Arbitrators appoints suitably qualified arbitrators to conduct the arbitration so that the process is unbiased. Parties choose whether they want the arbitration to be conducted on paper alone or whether to have a hearing.

Costs

The time and cost are capped, but a hearing is more expensive than a documents-only arbitration. We allocate a maximum of eight hours to a documents-only arbitration at £80 per hour + VAT, together with a £175 registration fee. A hearing is capped at 20 hours at £200 per hour + VAT, plus the £175 registration fee. The arbitrator decides how the costs are split between the parties.

If you would like more information about the scheme, please call Martyn Durbidge on + 44 (0)1908 546 229, email martyn.durbidge@icaew.com or write to:

Martyn Durbidge
Professional Conduct Directorate
Silbury Court
412-416 Silbury Boulevard
Milton Keynes
MK9 2AF