Newsletter-21

174 NEWSLETTER 2016 General Information ISTAC is comprised of a national court, an international court (together, “Court”) and a secretariat (“Secretariat”). The structure and function of the Court and the Secretariat are governed by Appendix II of the ISTAC Rules of Arbitration. The Court shall manage the process of resolution of disputes by the sole arbitrator or the arbitral tribunal. ISTAC Rules shall be applicable under two instances. The first instance is an agreement for disputes to be resolved pursuant to the ISTAC Rules of Arbitration. The second is for the parties to an ad hoc arbitration to foresee that the arbitrators are appointed by the Court. In the latter case, the Court shall act as the appointing authority. Arbitral Proceedings Commencing the Arbitration In order for arbitration proceedings to commence, the claimant party shall submit to the Secretariat the arbitration agreement, the request for arbitration containing summary explanations, the relief sought, as well as a statement on matters, including the number and appointment of arbitrators, place and language of arbitration, and shall pay the filing fee. In case of any deficiency, the Secretariat shall grant the claimant party with a 15-day period. In the event of failure to correct the deficiencies within this period, the arbitration file shall be closed. The claimant may commence the arbitration proceedings by directly submitting a statement of claim in lieu of a request for arbitration. The respondent party shall respond to the request for arbitration within 30 days. An additional period may be granted to submit the answer to the request for arbitration; nevertheless, the respondent party shall provide a statement on matters, such as the determination of arbitrators within the said 30-day period, nonetheless. A respondent may initiate a counter claim, together with the answer to the request for arbitration. In the event a counter claim is made, the respondent shall also pay a filing fee. In this case, the claimant to the initial arbi- tration shall submit an answer to the counter claim, either within the