ECAF's fee schedule

in ecaf •  6 months ago

This fee schedule is for Arbitrations carried out under the EOS Core Arbitration Forum’s (ECAF) Rules for Dispute Resolution (RDR) - more details here.

This fee schedule is revised from time to time. ECAF’s fees will be invoiced in EOS. Where conversion from fiat currencies to EOS is required, the process for doing so is detailed in the section Currency Conversion at the end of this memo.

A two stage fee system comprised of the following elements:

  1. Non-refundable Filing Fee: to be paid on submission of a case.
  2. Cost of Arbitration: to be paid at the conclusion of the case and to compensate the Arbitrators, Case Managers, Forum staff, external experts etc for the time they have spent on the case

N.B. Fees are separate to any bond that parties may be required to post by the Arbitrator as surety against potential judgments.

Filing Fee

When submitting a request for Arbitration, the Claimant shall pay a non-refundable filing fee that is dependent on the amount of the claim as follows:

Size of claim in EOSFiling fee in EOS
1 - 2506
251 - 50010
501 - 1,00020
1,001 - 2,50040
2,501 - 5,00060
5,001 - 10,000100
10,001 - 25,000210
25,001 - 50,000360
50,001 - 100,000600
100,001 - 250,0001130
250,001 - 500,0001580
500,001 - 1,000,0002210
1,000,001 - 2,500,0003860
2,500,001 - 5,000,0005400
5,000,001 - 10,000,0007560
Above 10,000,0007560
Claims with no monetary damages/ amount is not qualified150

Arbitration Costs

As per the RDR Section 5.9: as soon as practicable after the commencement of the arbitration, the Arbitrator shall deliver an estimate of the costs of the arbitration.

The costs of arbitration shall be fixed in the ruling(s) and are to be paid to the account of the Forum.

Such costs may include:

  1. fees for the arbitration;
  2. the Arbitrator’s expenses;
  3. the costs of experts and translators;
  4. other fees and expenses of the Forum related to the conduction of the case;
  5. the reasonable legal and other costs incurred by the parties;
  6. fines as levied by the Arbitrator for negative actions or behaviours;
  7. any costs incurred in connection with a notice for interim or emergency relief; and
  8. any costs incurred in connection with a request for consolidation of arbitrations.

The cost of Arbitration shall be calculated by reference of the work done by the Forum’s members. Rates will depend on the circumstances of the case including its complexity and any special qualifications the Arbitrators may have.

Fees shall be charged at an hourly rate as follows (figures are quoted in USD but invoiced in EOS, see section below on currency conversion). The rate to be applied will depend on the experience level and expertise of the person in question:

PositionMinIndicative value in EOS (on 7 Aug 18)MaxIndicative value in EOS (on 7 Aug 18)
Case Manager/Forum Staff$7511.35$17025.72
Arbitrator$15022.7$30045.39

Deposits

The Arbitrator may direct the parties to submit two types of deposit in such proportions and at such times as it thinks appropriate:

  1. An advance of the Arbitration Costs. Such payments deposited by the parties may be applied by ECAF to pay any item of such Arbitration Costs (including the ECAF’s own fees and expenses) in accordance with the ECAF rules.
  2. A bond as a percentage of the sum under dispute to act as surety against potential judgments.

In the event that a party fails or refuses to make any payment on account of the Arbitration Costs as directed by the Arbitrator, the Arbitrator may direct the other party or parties to effect a substitute payment to allow the arbitration to proceed (subject to any order or award on Arbitration Costs). In such circumstances, the party submitting the substitute payment may request the Arbitrator to make an order or award in order to recover that amount as a debt immediately due and payable to that party by the defaulting party.

A party requesting Emergency Relief shall, in addition to the non-refundable filing fee, pay a deposit of the EOS equivalent of USD 750 (see the note below on Currency Conversion) as an advance for the costs of the emergency relief proceedings. If the Filing Fee and the deposit are not paid, ECAF shall not proceed with the emergency relief proceedings.

Interim payments

With ECAF and the Arbitrators approval, part of the deposits may from time to time be released to cover any part of the Arbitration Costs as the arbitration progresses.

If no, or insufficient, funds are held at the time the interim payment is required, the invoices may be submitted for payment direct by the parties.

Method of Payment

ECAF will only request you to transfer funds to one of these two accounts:

ecafeewallet
ecafescrowww

WARNING: Do not transfer funds to any other account! Requests for payments to any other EOS account or exchange accounts are fraudulent requests! ECAF will not accept liability for funds transferred to different accounts.

Collection of Filing Fee

  • Claimants will submit a filing via ECAF’s file a claim page: https://eoscorearbitration.io/file-a-claim/

  • ECAF’s Case Managers will then review the filing. Once the Case Manager is satisfied that no additional information is required they will contact the claimant to submit the Filing Fee with an appropriate memo to:

    ecafeewallet

  • Once the Filing Fee is successfully received, the case will be marked as accepted by the forum and await assignment to an Arbitrator

Collection of Deposits

  • When an Arbitrator is assigned to a case they will make a preliminary estimate of the costs of Arbitration. (This estimate will be finalised at the conclusion of the case.)
  • The Arbitrator may then direct the Case Manager to inform the parties to a case of these costs. The Arbitrator will also define whether a deposit is required to cover a partial amount of the Arbitration Costs and as surety for the amount under dispute
  • The deposit will be collected by the Case Manager and is to be paid into ECAF’s escrow account with a memo that will be provided to the parties. Deposits must only be sent to:

ecafescrowww

Currency Conversion

Amounts shall be invoiced in EOS.

Where any amounts due are not quoted in EOS, then conversion shall be made at the rate of exchange prevailing on the day before the date on which the invoice, request for deposit and/or ruling is given.

The rate to be utilised to convert from EOS to USD is the closing rate for the given date as quoted by CoinMarketCap.

If the amount is expressed in a fiat currency other than USD, then that amount shall first be converted into USD using the average Ask rate for the given date as quoted by OandA. It will then be converted into EOS as above.

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