ACICA Deposit Holder Service
ACICA is able to act as Deposit Holder, holding funds in trust for payment of tribunal fees and expenses, in circumstances where it is not administering the dispute (although it may have acted as the appointing authority).
ACICA charges a non-refundable account administration fee for the provision of deposit holder service. This fee may depend on the amount of administrative work involved and the length of time over which the trust account is utilised. Fees will be charged upfront for either a six or twelve month period, determined upon consultation with the tribunal.
As a part of this service, ACICA will provide:
- Trust account details for payment of deposits
- Invoices for the payment of the administration fee
- Confirmation of the receipt of deposits by email
- Payment of tribunal invoices on instruction from the tribunal (subject to any other arrangements notified in advance to ACICA)
- Issue of trust account disbursement advices to the parties (copied to the Tribunal) showing payments made from the trust account and the balance remaining
ACICA is also pleased to assist tribunal members with the following arrangements, as required:
- Printing and binding of awards
- Provision of copies of the award to parties
The above additional services will be charged separately.
For further details in relation to these services, please email the ACICA Secretariat with a request for ACICA’s current deposit holder service terms.