The Fees and expenses for IBA-ADRIC administered Mediation services are subject to periodic fluctuations. However, the fees with regards to any particular mediation shall be as that mentioned on IBA-ADRIC webpage at the time of institution of application for mediation.
The mediation fee is calculated under the assumption that each mediation session extends for a cumulative duration of 8 hours.
|
Value of Dispute (Rs.) |
Payment (Rs.) |
|
0 to 0.5 million |
30,000 |
|
0.5 to 1 million |
50,000 |
|
1 to 2 million |
75,000 |
|
2 to 2.5 million |
100,000 |
|
2.5 to 5 million |
125,000 |
|
5 to 7.5 million |
160,000 |
|
7.5 to 10 million |
210,000 |
|
10 to 20 million |
300,000 |
|
20 to 30 million |
350,000 |
|
30 to 50 million |
400,000 |
|
50 million and above |
500,000 |
PAYMENT
The fee must be paid to IBA-ADRIC either prior to or immediately following the institution of the mediation application. IBA-ADRIC shall not obligated to undertake further actions to progress the application except after complete payment is received.
The Fee Payment includes all necessary preparations in advance and for ensuring the attendance of the mediator at a mediation hearing, which is expected to last for an aggregate of 8 hours to a maximum of _____ hours. Should the parties require additional mediation time beyond the agreed duration, such extension of time shall be subject to mutual agreement between the parties and the mediator.
Payment includes usage of, hiring of professionals, cost of facilities and support services for or in connection to the Mediation.
LIABILITY FOR PAYMENT
The parties are at open discretion to promulgate any arrangements as between them for payment of the mediation fees.
Notwithstanding any agreement between the parties, the parties shall at all times be, jointly and severally, liable for the mediation fees and expenses payable to IBA-ADRIC.
IBA-ADRIC is vested with the absolute right to recover any overdue monies on a full indemnity basis pursuant to the Mediation Agreement.
PAYMENT METHOD
Payment of all fees due to IBA-ADRIC may be made via debit card, bank transfer or by credit card (Visa and MasterCard only). For all credit card payments, a Merchant Transaction fee of 3% shall be charged in addition to the displayed fee for IBA-ADRIC administered mediation.
All fees, expenses or costs related to the mediation shall be paid in Pakistani Rupees (PKR).
CANCELLATION OF FEES
In any case where a party notifies IBA-ADRIC in writing that;
and the notice is received by IBA-ADRIC (or the termination is made) between 6 and days 10 from and including the date of the scheduled mediation session, during ordinary business hours, IBA-ADRIC shall be at discretion to charge a cancellation fee amounting to an estimate of 50% of the Mediation fee.