Membership

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, and mediators.


Application process

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

Application form

2. Online payment authority form

Please complete the payment authority form.

Payment Authority Form


Protocols

Correspondence

The applicants must copy the Corporate Services Manager – 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.


Disbursements

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 arbitrator, mediator, or expert determiner
  • without reference to or further authority from any party.

Matter ledger for deposits and disbursements

Resolution Institute will provide the arbitrator, mediator or expert determiner 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.

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