Schedule of Costs / Fees of Arbitration/Appeal

The following costs/fees shall apply :-

1. Administrative Fees

Fees payable by the Claimant upon initiation of the arbitration shall be as follows:

Basic fee
Member RM5,000
Non-Member RM10,000
Basic fee for String Arbitration
Member RM10,000
Non-Member RM20,000

Discount of RM1000 where both parties are members of PORAM.

The above specified fee is for disputes relating to one contract. For each additional contract in dispute incorporated under the same arbitration proceeding, an additional minimum fee of RM500 per contract shall apply.

In the case of appeal, the fee applicable as above shall be increased by 50%.


2. Costs of Services

PORAM shall arrange for services such as secretarial, translation, etc. which shall be charged at costs. The Claimant/Appellant shall pay a deposit RM40,000 towards such costs and administrative fees as above to PORAM, along with the request for arbitration/appeal or upon demand by PORAM. During the course of the proceedings, the Sole Arbitrator/Panel of Arbitrators/Appeal Board may ask the Claimant/Appellant or Respondent to deposit additional funds with PORAM towards such costs.


3. Arbitrator’s/Appeal Board Fees

The fees chargeable by the Arbitrator(s)/Umpire/Appeal Board members shall be determined by each of them individually subject to a minimum of RM3000 per person. Additional minimum fee for each String Respondent in a String Arbitration is RM250 per person.

The Claimant/Appellant shall deposit with PORAM a sum equal to RM3000 per person on the Arbitration Panel/Appeal Board. In the case of a String Arbitration, each String Respondent shall deposit with PORAM a sum equal to RM250 per person on the Arbitration Panel/Appeal Board, along with the request for arbitration/appeal or upon demand by PORAM.


4. Travel and Accommodation

Travelling and accommodation expenses shall be charged as incurred by the Arbitrator(s)/Appeal Board members.


5. Ad Hoc Arbitration/Appeal

In such arbitration/appeal, the administrative fees shall be an amount which is 50% more than the fees laid down in (1) above. Other costs / fees shall be as listed above.

Daily Palm Oil Prices (Jan 2021 Contract)

On 27th Oct 2020
Settlement Price RM 3605
Last Updated : 28th Oct 2020 @ 8.30 AM

Palm Oil Related News