Dispute Resolution (“CPR”) offers Fundholding as an a-la-carte service for mediators, arbitrators or tribunals who want a neutral third party to handle the financial aspects of the proceedings, including holding the parties’ deposits, requesting fee deposits, processing invoices, and providing an accounting. Outsourcing this service to CPR further protects the neutrality of the proceedings and promotes efficiency.
HOW IT WORKS:
- CPR, the Tribunal, and the parties will execute a Fundholding Agreement at the outset of the matter.
- The Chair or Sole Arbitrator will work with CPR to determine and then notify CPR of the deposits needed on a periodic basis.
- CPR will collect the requested funds from the parties to hold on deposit.
- The Tribunal will send invoices to CPR, who will disburse payments from the deposited funds.
- CPR will provide an Accounting periodically as requested by the tribunal or at the end of the matter.
There is a one-time fee of $1250 to set up the Fundholding.
CPR’s services are charged at $400/hour and invoices are sent to the parties on a quarterly basis.
FOR MORE INFORMATION:
Reach out to CPR Dispute Resolution at CPRNeutrals@cpradr.org or Mia Levi, Vice President of CPR Dispute Resolution, at firstname.lastname@example.org.
Parties wishing to utilize CPR’s Fundholding services can file the request via File A Case. Please select “Fundholding” under “A La Carte Services” on the Intake Form.