Deposit Holding Service
Resolution Institute offers a Deposit Holding Service to its members to hold funds in trust as security for fees. This service is available to arbitrators, expert determiners, mediators and adjudicators (WA and NT only).
1. Online application form to open a Deposit Holding Service Account
Mandatory fields to be completed include:
- Party and representative details.
- Description of nature of the matter.
- Type of dispute resolution process e.g. arbitration, mediation, expert determination, etc
2. Online payment authority form
Please complete the payment authority form.
The applicants must copy the Chief Financial Officer – Robert Grima, in on ALL directions to the parties to deposit payments.
Such directions may be redacted to remove irrelevant matters, enabling Resolution Institute to ensure deposits are reconciled and allocated in accordance with the directions.
Resolution Institute will disburse fees upon receipt of the tax invoice:
- to the parties relevant to the disbursement
- a disbursement from the fees held as instructed by the dispute resolver
- without reference to or further authority from any party.
Matter ledger for deposits and disbursements
Resolution Institute will provide the dispute resolver with a reconciled matter ledger following each deposit and disbursement.
Bank fees, charges and interest
Resolution Institute will pay bank charges and fees and will retain any interest or other monies earned on deposits held.
Application and administration fees
- Application fee of $200 payable online upfront as part of the application process
- Administration fee of $100 per annum until the matter is concluded.