Registration of Petition for Arbitration
The parties being bound by an Arbitration agreement and requiring BAPMI's Arbitration process to be held immediately shall, any of them, act as the Petitioner (plaintiff), who make a prior notification to the Respondent that the Arbitration requirements, as referred to in the Arbitration Agreement, have been applicable. Thus, the dispute resolution will soon be submitted to BAPMI's Arbitration. In the notification, the proposed number of Arbitrators will be stated (whether Sole Arbitrator or Arbitral Tribunal, or generally 3 Arbitrators), in case the Arbitration Agreement has not set the number of Arbitrators. The notification obligation does not apply if the Arbitration agreement is made after the dispute arises, because the parties are both aware that the dispute will be petitioned for Arbitration.
Registration of Claim (Petition for BAPMI's Arbitration):
After submitting a notification, either party must make a claim (Petition for Arbitration) in writing to BAPMI. The party making such petition is referred to as the "Petitioner", or the term used in court as the "Plaintiff". Meanwhile, the opponent is referred to as the "Respondent", or in the term used in court as the "Defendant".
Contents of the Petition:
As commonly found in a claim, a Petition for Arbitration shall contain:
- information regarding names, addresses and standing of the Parties (persona standi in judicio);
- description of the dispute/ merit of the case (basis of claim);
- plea for damages (petitum).
Special for Petition for BAPMI's Arbitration, it must quote and include the Arbitration Agreement, a statement that the Petitioner will be bound by, subject to and execute the Arbitration Award and will not file any objection and/or other legal actions on the same dispute to any District Court and any judicial institution, and include a deed of evidence and a list of factual/ expert witnesses (when they have been mentioned), and a proof of Registration Fee full payment.
Verification of the Petition by BAPMI's Management:
In respect of the registered Petition for BAPMI's Arbitration, BAPMI's Management will examine:
- whether the petition has meet any administrative requirements;
- whether the parties have been bound by an Arbitration Agreement stating that the dispute will be resolved through BAPMI's Arbitration;
- whether the petitioned dispute is about a civil dispute in connection with capital market activities; and
- whether the petitioner has paid the Registration Fee.
When the petition meets the above requirements, BAPMI's Management will provide the Petitioner and the Respondent with a notice no later than 14 days after the registration of petition is received and will be processed further, and is listed on a case registry book of BAPMI and given a registration number. The next step after registration of petition for Arbitration is establishment of a panel of Arbitrators by BAPMI's Management.