Both parties are notified of the date and place of
the hearing. Parties wishing to attend in person, or who wish to be represented
by a member of the trade, must give written notice to the arbitrator appointed
by them or for them within seven days of such appointment. Legal counsel is not
permitted to attend and indeed no one else may attend without prior agreement of
the arbitrators or umpire. The arbitrators or umpire board themselves may
however employ legal advisers, assessors or other experts to advise them and
such persons may attend the hearing. The arbitrators or umpire shall have the
power to conduct the arbitration in such a manner in all respects as they
consider necessary while giving each party a reasonable opportunity of putting
their case and dealing with that of their opponent. The arbitrators or umpire
may adopt procedures suitable for the particular case and for avoiding
unnecessary delay and expense. They may also make such interim orders as they
think fit for the interim protection, warehousing, sale or disposal of the
subject matter of the arbitration.
Within a reasonable time from the date of hearing,
the arbitrators or umpire shall make in writing and sign a reasoned award on the
official award form of the BCA. Subject to any valid appeal under BCA rules the
award shall be final and binding. If so claimed the award may direct that any
amounts awarded in it shall carry interest, simple or compound, at the rate
specified in the award. It shall also state the costs and expenses of the
arbitration, the fees payable, and which of the parties shall be responsible for
paying them. The arbitration fees are set at the discretion of the arbitrators
and umpire. If the award is not taken up within 30 days the BCA can direct one
of the parties to take up the award and pay the fees, costs and expenses. If it
is not then taken up within 10 days the BCA may by action recover all
outstanding amounts from any or all of the parties, or deduct these from any
amounts that may have been deposited in advance.