REGULATIONS CONCERNING THE CONSOLAT DE MAR

One

Administration of the arbitration

The disputes submitted by natural or corporate persons for arbitration by the Barcelona Official Chamber of Commerce, Industry and Navigation shall be settled by arbitration in equity or law, administered pursuant to these Regulations and the necessary provisions of the Arbitration Act 60/2003, of 23 December.

Two

Consolat de Mar

(Annulled)

Three

Request

The Consolat de Mar involvement shall be conditional upon request by either party, which must be presented using the form provided at the Chamber of Commerce’s offices, Avenida Diagonal, 452, during normal office hours.

This form must describe the nature of the dispute, the evidence provided by the requesting party to support its case, and the necessary citations for starting the arbitration shall be made. The form must be accompanied by the following documents:

a) Arbitration agreement or document confirming submission of the dispute for arbitration by the Consolat de Mar.

b) The deed confirming power of attorney, if necessary.

c) Any other documents that the requesting party may consider appropriate.

Four

Notification of request

After verifying prima facie the existence of the clause or agreement that attributes the Arbitration to it, the Consolat de Mar shall forward the arbitration application form and the supporting documents to the party or parties mentioned in it so that, within a maximum period of 15 days, it may present such arguments that it considers appropriate.

Five

Acceptance of the arbitration

Upon expiry of this term, irrespective of whether arguments have been submitted or not, the Consolat de Mar shall state whether it accepts administration of the arbitration and, if so, shall make the necessary decisions for performance of the arbitration, which it shall notify to the arbitrators and the parties for their information. Such decisions shall include:

a) Appointment of the arbitrator(s), also appointing the President of the Arbitration Board, forwarding to them the documents submitted by the parties.

b) It shall determine the provision of funds required to cover the cost of the arbitration, pursuant to the provisions of these Regulations.

c) Within the following fifteen calendar days, it shall summon the arbitrators and parties to appear at the Consolat de Mar headquarters on the day and time decided to start the arbitration.

Six

If the parties had not come to any agreement regarding the appointment of arbitrators or their number, the Consolat de Mar shall appoint them and determine their number as it may freely decide, preferably considering for such purpose the nature of the issue submitted for arbitration and appointing people of proven morality and expertise in the different economic and professional activities.

Seven

Objection to arbitrators

The parties may object to the arbitrators for the reasons accepted in law. If the arbitrator concerned should accept the objection, the Consolat de Mar shall replace the arbitrator in the same manner in which the original appointment was made.

Eight

Commencement of arbitration and calendar of actions

On the day set, the arbitrators shall notify the parties of their acceptance of the arbitration and the arbitration procedure shall be begun.

The arbitrator(s) and the parties shall determine a calendar of actions with regard to performance of the arbitration procedure. The maximum period for issuing the award shall also be determined, following the indications given by the parties or, failing that, abiding by the six months stipulated in the Arbitration Act.

In addition, the arbitrators shall consider the possibility of proposing a conciliation attempt to the parties.

Of all this a record shall be drawn up, which shall be signed by the arbitrator(s) and the parties present. If either party should not be present at this act, it shall be notified in writing of its outcome and commencement of the arbitration procedure shall be postponed until this notification has been made.

Nine

Organisation of the procedure

Saving prior agreement by the parties, the arbitrators shall have complete freedom in organising the arbitration process, abiding by the principles of hearing both sides, contradiction and equality.

At each of the arbitration sessions, the parties shall be given the opportunity to provide evidence in their defence.

The arbitration shall be held at the Council of Twenty’s headquarters, Casa Llotja de Mar, unless another venue is decided by joint agreement between the arbitrators and the parties.

Ten

Notices

Notices between the parties and the arbitrators and the Consolat de Mar shall be served by direct delivery at the Chamber of Commerce’s General Register or by letter with confirmation of receipt.

Notices between the arbitrator(s) and the ordinary jurisdiction, the Public Administration or third parties may be served through the Sea Consulate, which, in such case, shall see to their delivery.

Eleven

Advice

The parties may be represented or advised by agents or legal counsel, whose names shall be notified to the other party.

Twelve

Award

The arbitrators shall issue the award in equity on the basis of their best knowledge and fairness.

Thirteen

Performance

The party who requests performance of the award may request the Consolat de Mar intervention to obtain its performance in good faith.

Fourteen

Provision of Funds

When submitting the initial arbitration documents, both parties must deposit at the Consolat de Mar a provision of funds on account to cover the arbitration costs and fees, in accordance with the scale of charges approved by the institution.

The Consolat de Mar shall not accept the arbitration until this deposit has been made. However, either party may advance the provision not made by the defaulting party, without prejudice to the decision made regarding the costs of the arbitration.

Likewise, no examination of evidence or appraisal shall be performed unless its cost has been covered or guaranteed beforehand.

Fifteen

Arbitration records

Once the award has been given, the arbitration records shall be kept and safeguarded at the Consolat de Mar.

Interpretation

ADDITIONAL PROVISION

At the request of either party or the arbitrators, the Consolat de Mar may settle any doubt that may arise concerning the interpretation of these Regulations.

In all matters not specifically provided in these Regulations, the rules contained in the Arbitration Act 60/2003, of 23 December, shall be applied.