Claims involving amounts in dispute greater than $50,000.00 including GST or claims under $50,000.00 that do not meet the criteria for LVCs
All such claims are dealt with under our General Claims Service. Please note that any amount prescribed as security for the adjudicator’s fees and expenses for a General Claim is a nominal and arbitrary amount only and is not an estimate of the cost of the adjudication.
Security for adjudicator’s fees and expenses – General Claims
For General Adjudication Claims, a notice of acceptance will not be served on the parties to the adjudication until the claimant, or the parties jointly, have paid (in clear funds) into the trust account of the Tribunal a deposit as security for the adjudicator’s fees and expenses in accordance with the following table:
Please note that any amount paid as security for the adjudicator’s fees and expenses is a nominal amount only and is not, and shall not, be considered an estimate of the cost of the adjudication which shall be calculated according to the time engaged on the duties of the adjudication by the adjudicator, together with any expenses incurred by the adjudicator in the execution of those duties.
In the event that the adjudicator’s fees and expenses prove to be less than the amount held by the Tribunal as security, the Tribunal will provide the adjudicator’s determination to the parties to the adjudication as soon as practicable after the adjudicator has made his or her determination and the Tribunal will disburse the balance of the monies held as security to the parties in the manner determined by the adjudicator.
In the event that the adjudicator’s fees and expenses are greater than the amount held as security, the parties will be advised of the adjudicator’s actual fees and expenses by the Tribunal and the parties will be requested to pay the balance in order to uplift the determination. When the balance is paid in full, a copy of the determination will be provided to each of the parties to the adjudication by the Tribunal.