Following up arbitration request submitted according to Amman Stock Exchange directives for dispute resolution

Estimated Time:

Three weeks from the date of receipt the arbitration request fulfilled with all conditions, not including the twenty days prescribed  for the arbitration panel  to  issue arbitration award which is extendable for another twenty days.

Location:

Legal affairs Division  and follow up  and  execution  Division 

Estimated Fee:

no fees are paid for providing this service , knowing that the arbitration panel competence to  hear and  rule   the dispute  determinate  arbitrator fees  to what they see suitable  , and the parties have the  right to object on the fees.

1
  • Description
  • Procedures
  • Required Documents
  • Persons benefiting from the service
  • Files
  • Related Services

Exchange of documents between the claimant and respondent and the appoint of arbitrators in order to   submitting the dispute file to the arbitration panel   to hear and  rule on it  in  accordance  to the provision of   Amman Stock Exchange directives for dispute resolution

Conditions for obtaining service

-Submitting request from claimant fulfilled with all information and documents required. -The respondent Response to the arbitration request fulfilled with all information and documents required within (5) five working days of receiving the request

Notes

None

Partner institutions:

None

Procedures

  •  the respondent serve on the following day of  receiving the arbitration  request submitted by  the claimant a copy of the request and its attachments to enable the latter to present his / her response within (5) five working days.
  • The response on the submitted arbitration   request is received from the respondent  including all information and documents required.
  • If the respondent's response contains a counter claim, the claimant serve a copy of the arbitration request and its attachment to enable the latter to present his / her response within (5) five working days of receiving the counter claim .
  • Once the procedures of exchange of documents and selection of arbitrators are complete, the dispute file shall submit  to the Arbitration Panel.
  • The arbitration award shall be issued in an original copy to be deposited by the Arbitration Panel with the legal department, and then call in the parties to pass on the award to them.

Required Documents

The arbitration request must include the following information:-

  • Name and full address of both the claimant and the respondent.
  • Related agreements, particularly those related to the agreement to refer the dispute to arbitration according to the provisions of Amman Stock Exchange directives for dispute resolution
  • A description of the nature and the circumstances of the dispute that gave rise to the request.
  • Reference to the subject matter of the request, claimed amounts and evidence corroborating the claim
  • The claimant  position vis-à-vis the number and the selection of arbitrators according to the provisions of Article 6 of Amman Stock Exchange directives for dispute resolution
  •  Any other information pertinent to the subject matter of the request.

 

 Response on the arbitration request  must include the following information:-

  • His / her opinion on the nature and circumstances of the dispute.
  • His / her response to the claimant's requests, together with corroborative documents and evidence.
  • His / her response to the proposals regarding the number and the selection of arbitrators.
  • Any other information pertinent to the subject matter of the dispute.

Persons benefiting from the service

Financial brokers members of the Amman stock Exchange and their clients

Files

No Found Files

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