Updated: Dec 18, 2020
16 April 2007
MEMO TO : All Clearing Banks/Institutions
SUBJECT : AMENDMENTS TO THE ARBITRATION RULES OF PROCEDURES
1. As recommended by the Arbitration Oversight Committee and as approved by the PCHC Board in its meeting of 25
January 2007, Sections 11, 12 and 14 of the PCHC Arbitration Rules of Procedures (ARP) are hereby amended to
read as follows:
Section 11 – The decision made by the ARBICOM or sole arbitrator after the Motion for Reconsideration is denied
or the resolution of the Board of Directors of the PCHC shall be executory in the manner above
provided without the necessity of judicial confirmation of the award provided in Sec. 23 of the
Section 12 – The finding of facts of the decision or award rendered by the ARBICOM or by the Sole Arbitrator
and/or by the PCHC Board of Directors as the case may be, shall be final and conclusive upon all
parties in said arbitration dispute. The resolution or order of the Board of Directors affirming,
modifying or reversing the decision or award of the ARBICOM or the Sole Arbitrator shall be
appealable only on questions of law to the Honorable Court of Appeals, and the procedure to be
followed by the parties in such appeal shall be governed by Rule 43 of the 1997 Rules of Civil
Procedure. The appellant shall perfect its appeal by filing a Notice of Appeal to the Arbitration
Secretariat and a petition with the Honorable Court of Appeals for the review of the decision of the
Arbicom or Sole Arbitrator and of the resolution or order of the Board of Directors affirming, modifying
or reversing the arbitral award within a period of fifteen (15) days or such other period as provided in
Rule 43 of the 1997 Rules of Procedure, from and after its receipt of the decision.
Section 14 – The taking of an appeal to the Courts by any party to the controversy from the decision of the
ARBICOM or sole arbitrator or of the Board of Directors shall not be a ground for the suspension nor
revocation of the automatic debit of the clearing account of the losing party for the amount of the
aforesaid decision and the corresponding credit thereof to the clearing account of the prevailing party.
However, should the Court on appeal reverse the decision of the ARBICOM or sole arbitrator or Order
of the Board of Directors the appellant may recover from the appellee, interest at such rate as the court
may prescribe from the time of the debit from the appellant’s clearing account for the amount of the
aforesaid award previously debited from its account by virtue of the said award without prejudice to
such other damages as may be awarded by the Court. This decision of the Appellate Court reversing
the decision of the Arbitration Committee or Sole Arbitrator or order of the Board of Directors, upon
becoming final and executory, may be enforced by the Arbitration Secretariat of the PCHC by mere
motion with the latter for it to issue a Charge Slip debiting the amount of said award and such other
damages, from the clearing account of the losing party on appeal and crediting the same to the
account of the prevailing party in the same manner as the enforcement of the award of the ARBICOM
or order of the Board of Directors as provided in Section 10 hereof.
The motion shall be accompanied by proof of service of said motion to the opposing party and
original certificate of finality from the appellate court.
2. For information and guidance.