CPR offers fundholding as an a la carte service for neutrals or tribunals who want a third neutral party to handle the financial aspects of the proceedings, including holding the parties’ deposits, requesting fee deposits and processing invoices. Outsourcing this service to CPR further protects the neutrality of the proceedings and could result in some cost-saving benefits for the parties.
CPR, the Tribunal and the parties will execute a Fundholding Agreement:
• The Chair or sole arbitrator will work with CPR to determine and then notify CPR of the deposits needed on a periodic basis.
• The Tribunal will send invoices to CPR, who will disburse them against the deposited funds.
• There is a one-time fee of $1,250 to set up the Fundholding and then CPR’s services are charged at $400/hour, and CPR invoices the account on a quarterly basis in the same allocations as the parties pay the arbitrator fees unless otherwise agreed.
• CPR will provide an Accounting periodically as requested by the tribunal or at the end of the matter.
To initiate this service, please send an email to firstname.lastname@example.org.