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CHOM 417

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

Arbitration Law.

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.


CHOM.417
.AMENDMENTS TO THE ARBITRATION R
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