DOCDEX RULES PDF

These rules concern a service called Documentary Instruments Dispute Resolution Expertise (DOCDEX) which is available in connection with any dispute. Docdex is one of the options available to solve letter of credit disputes. settled under the DOCDEX Decision in accordance with the ICC DOCDEX Rules, ICC. These rules concern a service called Documentary Instruments Dispute Resolution Expertise (DOCDEX) which is available in connection.

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If the Centre finds a Claim or part of a Claim to be outside the scope of the Rules, or considers in its discretion that the administration of a Claim or part of a Claim would not be in the spirit of the Rules, the Centre may reject all or part of that Claim at any time, before or after acknowledging receipt, and in such event shall so inform the Claimant and any Respondent to which the Centre has sent a copy of the Claim.

DOCDEX – ICC – International Chamber of Commerce

The Centre may authorize the publication of any Decision, provided that the identities of each Claimant, Respondent rulee any other person or entity named in the Claim, Answer or any Supplement are not disclosed. In exceptional circumstances, and upon a reasoned request submitted by the President, the Centre may extend the time limit for the Appointed Experts to render their draft Decision. The Technical Adviser shall also provide guidance on the area s of expertise that the Claim requires and that the Appointed Experts should possess.

An Rulles Expert who becomes unable to carry out the functions entrusted by the Centre shall so inform the Centre without delay.

All fields in the relevant Form shall be completed concisely, in English, and shall contain all necessary information clearly presented.

Following deliberations among the Appointed Experts, the President shall prepare and submit to the Centre a draft of the Decision for scrutiny pursuant to Article 9 2 of the Rules. Accordingly, the Rules are not appropriate where such examination or submissions are required to resolve any factual or legal issues raised by the Claim.

The Rules provide for expedited proceedings, with no opportunity for the oral examination of fact or expert witnesses or for oral submissions at a hearing. Doddex submission by any person other than a Claimant or Respondent shall be admitted in the proceedings and any such submission received by the Centre shall be disregarded.

The entire process usually takes between two and three months, compared to years with court proceedings. They have brilliantly passed the test of a broad variety of disputes. No Decision shall be rendered by the Appointed Experts until it has been approved by ruules Technical Adviser as to its form.

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All amounts fixed by the Centre or pursuant to the Rules and the Appendix are payable in US dollars except were prohibited by law, in which case the ICC may apply a different scale and fee arrangement in another currency. CH06 R. In considering whether or not to reject a Claim or part of a Claim prior to the appointment of the Appointed Experts, the Centre may seek guidance from the Technical Adviser pursuant to Articles 2 1 and 7 3 of the Rules.

When a dispute falling within the scope of Article 2 1 of the Rules arises, a party may refer the dispute to the Rules to obtain an independent, impartial and prompt expert decision on the basis of the terms and conditions of the relevant instrument, undertaking or agreement, any applicable ICC Banking Rules and international standard practice in trade finance.

First issued inand revised inthe rules for Documentary Credit Dispute Resolution by Expertise gradually grew to become a trusted dispute resolution system for documentary credits, demand guarantees and collections that are governed by ICC Banking Commission rules.

News_DOCDEX : A New Dispute Resolution System for Trade Finance Disputes | Affaki Avocats

Any such agreement shall be recorded on Forms 1 and 2. But they avoid turning into enemies as is unfortunately the case when the dispute is submitted to courts. The Answer, if any, shall be accompanied by any additional documents that the Respondent considers necessary to support its Answer.

Before any appointment, prospective Appointed Experts shall sign a statement of acceptance, availability, impartiality and independence and shall disclose in writing to the Centre any facts or circumstances which might be of such a nature as to call into question their independence in the eyes of any Claimant or Respondent, as well as any circumstances that could give rise to reasonable doubts as to their impartiality.

In choosing an ADR, the parties compromise in no manner on their position.

A Respondent may submit its Answer individually or jointly with one or more other Respondents. A Supplement shall be submitted to the Centre only in response to a request from the Centre. Subject to Article 3 6 of the Rules, the Centre shall acknowledge receipt of the Claim and the fee to the Claimant. The version of the Rules that is applicable at the time of submission of a Claim shall apply to the proceedings, unless otherwise agreed by each Claimant and Respondent.

At the time of submitting a Claim, the Claimant shall pay the fee specified in the Appendix. The Centre may, at its discretion, accede to a request from a Claimant or Respondent for permission to make a new or additional submission, whereupon such submission shall be supplied in the form of a Supplement within the period indicated by the Centre.

Any standard or additional fee may be subject to value added tax VAT or charges of a similar nature at the prevailing rate. A number of ethical safeguards are added to the process to ensure that a person having served as DOCDEX expert is barred from any further involvement in the dispute under any other capacity. The year — What lies behind us and what is ahead? Notwithstanding any disagreement between the Claimant and Respondent as to whether the Claim falls within the scope of the Rules, the Appointed Experts shall continue with the proceedings and render a Decision to the extent that they consider the Claim to fall within the scope of the Rules.

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The Centre shall also refund all or part of any fee received pursuant to Article 3 3 of the Rules, as appropriate. The standard fee shall be non-refundable, unless the Centre rejects all or part of the Claim pursuant to Article 3 6 of the Rules. An Answer must be received by the Centre within the period it specifies when sending the Claim to each Respondent, which shall not exceed 30 days, save exceptional circumstances. Contact us Find a document Become a member Careers More sites.

News_DOCDEX : A New Dispute Resolution System for Trade Finance Disputes

Prospective experts are now required to state from the inception their availability, independence and impartiality to serve as appointed experts. ICC events 16 Jan The Chair of the Banking Commission is the repository of the List and can add or remove experts from the List at any time, as need be. A hard copy of the Claim shall be sent by the Centre to each Respondent pursuant to Docddx 3 5 of the Rules. Originally, DOCDEX was limited to interpreting and applying Banking Commission rules in a disputed context where the parties are prevented by the existence of the dispute from submitting a query for an docrex Commission opinion.

The draft Decision shall be submitted within 30 days of receipt by docddex Appointed Experts of all information and documents they consider necessary for determining the issues in dispute. Cases are decided by a panel of three impartial experts having extensive experience in, and knowledge of, trade finance transactions.

DOCDEX Rules

The Centre shall inform the other Appointed Experts of such termination and make another appointment from the List. This was either the result of a lack of Banking Commission rules dedicated to a particular type of transactions, as in the case of trade loans, syndications, negotiable instruments, risk purchase agreements or countertrade, or because the dispute concerned an aspect of the transaction that was not covered in the relevant ICC rules, such as authority, conflicts of priority, governing law or fraud in a letter of credit.

There shall be no oral hearing before the Appointed Experts.