PART IV

Arbitration


Article 23
Expedited Arbitration and Ordinary Arbitration
23.1
Unless differently agreed on by the parties, for Procedures regarding disputes over amounts equal to or less than euro 150,000.00 there shall be applied the provisions of Part IV at hand for "Expedited Arbitration". In all other cases, the provisions for "Ordinary Arbitration" shall apply. If subject to Italian law, the arbitration shall comply with the rules in the Italian civil procedure code unless otherwise indicated by the parties.

23.2
For the purposes of setting the monetary value of the dispute in accordance with the intent of Art. 23.1 above, the Court shall make reference only to the total amount under dispute as indicated by the Claimant in his/her Request. Any and all possible counterclaims shall not, therefore, be taken into consideration. However, whenever the above mentioned principle may lead to unreasonable results, the Court may by way of exception decide to act differently, upon formal request by one of the parties involved, in a manner of said Court's discretion and one not subject to appeal.

23.3
The parties involved may, upon written agreement, submit to Expedited Arbitration those disputes whose monetary value exceeds the first paragraph above.

23.4
Wherever not otherwise stated, the provisions of Part IV at hand shall apply both to Expedited Arbitration and Ordinary Arbitration.

Article 24
Presentation Brief
24.1
When it sets in motion the Arbitration, the Court shall request in writing that any parties involved produce a brief in which it specifies its own claims, indicate the evidences and produce the documents it intends to utilise in the Proceedings:

i) in the case of Expedited Arbitration, within fifteen (15) days;

ii) in the case of Ordinary Arbitration, within thirty (30) days from receipt of such notification.

Article 25
Further Specifications, Requests, Arguments and Filing of documents
25.1
Any further specification of claims, arguments, requests to give evidence and filing of documents other than those covered under the presentation briefs provided for in Art. 24 above:

i) in Expedited Arbitration, such are not admissible except for cases in which the Arbitration Tribunal gives authorisation, inasmuch as the Arbitral Tribunal rules as justified the reason which prevented their earlier and timely submission;

ii) in Ordinary Arbitration, such are admissible until the fact finding is concluded, unless the Arbitral Tribunal rules otherwise.

Article 26
Costs of the Arbitration (first assessment)
26.1
Simultaneous to the notification provided for under Art. 24 above, the Court shall determine costs of the arbitration in compliance with the Fee Chart, namely on the basis of letter C in the case of Expedited Arbitration and letter D in the case of Ordinary Arbitration. The Court shall then invite the parties involved to make payment of the costs so determined within fifteen (15) days of receipt of the notification in question.

Article 27
Appointing the Arbitral Tribunal and Forwarding the File
27.1
Once the deadline indicated in Art. 24 above has passed and the payments for costs indicated in Art. 26.1 have been made, the Court shall complete the file related to the dispute by including the documents supplied by the parties involved, so notifying said parties in writing and providing them with a copy of the final briefs as well as related documents submitted by the opposing parties. The Court shall at the same time appoint the Arbitral Tribunal in keeping with Art. 3.1 above.

27.2
The Arbitral Tribunal shall be composed of:

i) in the case of Expedited Arbitration, a single Arbitrator;

ii) in the case of Ordinary Arbitration, one or more Arbitrators, but of an uneven number as agreed upon by the parties involved or, in the absence of such agreement, by the Court in full regard for the complexity of the dispute and for every other related circumstance.

27.3
The Court shall forward the case file to the Arbitral Tribunal after having received from the component(s) of said Tribunal written acceptance of the appointment in question.

Article 28
Venue for Arbitration
28.1
The venue for the arbitration shall be that established for the Proceedings under Art. 14 above.

Article 29
The course of Expedited Arbitration
29.1
After having received the file, the Arbitral Tribunal shall use due prior notification to convene before it the parties involved to hear testimony from said parties and from witness having knowledge of events in the case as indicated in the documents. At its own discretion, the Arbitral Tribunal may admit testimony from other individuals or reduce the number of witnesses to be heard.

29.2
The Arbitral Tribunal shall direct the fact finding process in the manner it decides most suitable. The Tribunal may admit new evidence upon its own evaluation, having at the same time to comply with the rights to cross examination and to give the parties involved equal time and opportunity to present their respective cases as well as to offer evidence in support of said cases

Article 30
The course of Ordinary Arbitration

a) Terms of Reference

30.1

After having received the file and before initiating the fact finding process, the Arbitral Tribunal shall draft written terms of reference which, following the most recent allegations made by the parties involved, shall contain:

i) the names of the parties involved (if a juridical entity: title, type, main offices and legal representative) as well as the names of their possible defence counsels;

ii) the legal domicile selected by the parties involved to which notifications are to be sent;

iii) the name of their representative in the Proceedings and indication of the required power of attorney for settling the dispute or appointing Arbitrators;

iv) the name and legal domicile of the component(s) of the Arbitral Tribunal;

v) a résumé of the facts in the dispute, the claims and the parties involved;

vi) a specifying of the problems to be resolved;

vii) indication of the arbitration venue;

viii) indication of the language in which the arbitration is to take place;

ix) indication of whether the arbitration, in opposition to the provisions of these Rules, must be either conducted ex bono et aequo or based on strict rules of law, specifying in the latter instance, if it does not constitute an issue to be resolved, what the said rules of law are.

30.2
The terms of reference shall be signed by the parties involved and by the Arbitral Tribunal in the person of its single Arbitrator or of its president if there are a number of Arbitrators. In the event that one or more of the parties involves refuses to sign the terms of reference, the Arbitral Tribunal shall make note of said refusal in the terms of reference itself.

30.3
The Arbitral Tribunal shall communicate an original of the terms of reference to each of the parties involved as well as to the Secretariat of the Court.

b) Fact Finding

30.4
The Arbitral Tribunal shall direct the Fact Finding Process in the manner it deems most appropriate. The Arbitral Tribunal may admit new evidence upon its own evaluation, having at the same time to comply with the right to cross-examination and to give the parties involved equal time to present their respective cases as well as to offer evidence to prove said cases.

30.5
The Arbitral Tribunal shall direct the Fact Finding Process in the manner it deems most appropriate. The Arbitral Tribunal may admit new evidence upon its own evaluation, having at the same time to comply with the right to cross examination and to give the parties involved equal time to present their respective cases as well as to offer evidence to prove said cases.

30.6
Each hearing before the Arbitral Tribunal shall last no more than one (1) day. With no change in the time limit set for delivering the award, there shall as a matter of course be no limit to the number of hearings.

Article 31
Time-limit and Rules for Award
31.1
The Arbitral Tribunal shall be responsible for resolving the dispute in question and for delivering the award to the parties involved, as indicated in Art. 34 below, in the shortest possible period of time, and whatever the case within:

i) three (3) months for Expedited Arbitration;

ii) six (6) months for Ordinary Arbitration.

These deadlines are to extend from the date the file has been received, unless an extension is granted by the Court as the result of a petition by one of the parties involved or by the Arbitral Tribunal itself.

31.2
The Arbitral Tribunal shall resolve the dispute, unless all the parties involved have differently agreed:

i) in the Expedited Arbitration, ex bono et aequo;

ii) in the Ordinary Arbitration, according to strict rules of law.

The Arbitral Tribunal shall, at any rate, take into account the contract, and any other possible practices established between the parties involved as well as any applicable commercial usages.

Article 32
Project of award and Final Determination of Costs
32.1
At least fifteen (15) days prior to the deadline for delivering the award, the Arbitral Tribunal shall forward to the Court the project of award together with any information useful in evaluating the costs of the Procedure.

32.2
After having possibly provided the Arbitral Tribunal with non binding comments on the project of award, the Court shall return said project to the Arbitral Tribunal, together with the final assessment of arbitration costs. Moreover, the Court may determine the criteria for sharing the fees among the members of the Arbitral Tribunal.

32.3
Court's resolutions concerning assessment of costs and sharing of fees shall be binding for the parties involved as well as for the Arbitral Tribunal.

Article 33
Making of Award
33.1
Having received from the Court a copy of the project of award together with possible comments, the Arbitral Tribunal shall complete said award with the indication of the overall costs of the Procedure according to the Court's analysis and with the indication of how said costs are to be divided between or among the parties involved.

33.2
In the award, the Arbitral Tribunal shall settle the fees due to the counsel for the parties involved, taking into account said counsel's possible professional fees, obliging if such be the case the losing side to reimbursement or dividing those costs, through said Tribunal's own discretion, in whole or in part between or among said parties.

33.3
When and if it is composed of more than one component, the Arbitral Tribunal shall reach a decision on the basis of a majority vote by said component members.

33.4
The award, prepared in as many original copies as they were parties involved in the dispute plus a copy for the Court, shall be signed by the component member(s) of the Arbitral Tribunal, with an indication of where and when said signing took place. When and if an Arbitrator cannot or wishes not to sign the award, the other Arbitrators shall give notice of the said award which, whatever the case, shall remain valid to all possible effects.

Article 34
Delivery of Award
34.1
An original copy of the award shall be transmitted to each of the parties involved, even by registered mail with a return receipt requested. The Court shall then notify said parties and the Arbitral Tribunal that the Procedure has been brought to an end.

34.2
Upon request of the parties involved, the Court shall make available additional authentic copies of the award.

Article 35
Challenge of Award
35.1
The award is final. The parties involved waive their rights to any and all form of appeal insofar as much such waiver can validly be made.

35.2
When and if the award is declared null and void, the dispute in question shall remain subject to be settled in compliance with these Rules.