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The binding advisors

How are binding advisors appointed?

The parties are first given the opportunity to appoint binding advisors themselves. If one binding advisor must be appointed, the parties appoint that binding advisor together. If three binding advisors must be appointed, each of the parties appoints one binding advisor. The binding advisors appointed by the parties jointly appoint the third binding advisor, who is chair. If the parties make no appointment, the binding advisors are appointed on the basis of the “list procedure”. The Netherlands Arbitration Institute draws up a list with names of possible binding advisors. This list is sent to the party or parties that failed to appoint a binding advisor in good time. The parties may object against the appointment of the proposed binding advisors and number the remaining names in order of their preference. Based on the returned lists, the NAI then appoints the binding advisor or binding advisors. If no appointment is possible based on a comparison of the returned lists, the NAI will appoint directly. All binding advisors, including the binding advisors appointed by the parties themselves, must be fully independent and impartial.
The NAI selects binding advisors for a certain case based on the request for binding advice and the short answer. It will take account of the wishes of all parties, if possible.
The parties may also agree another manner of appointment, e.g. immediate appointment of binding advisors via the list procedure.

 



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Recommended literature

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