BANGLADESH Law and Practice Contributed by: Sharif Bhuiyan, Dr Kamal Hossain and Associates
be compelled in trial before the court. Wilful default to comply with such summons or refusal to perform constitutes contempt of the tribunal and is punishable by the court upon a complaint from the tribunal as if the offence is committed in relation to proceedings before a court.
There are no time limits specified in the Act for making an arbitral award. 10.2 Types of Remedies The Act does not contain any limits on the types of remedies that an arbitral tribunal may award. 10.3 Recovering Interest and Legal Costs Parties are entitled to recover interest and legal costs. Section 38 (6)(a) of the Act provides that unless oth - erwise agreed by the parties, where and insofar as an arbitral award is for the payment of money, the arbitral tribunal may include interest in respect of the sum for which the award is made. The interest may be awarded at such rate as the tribunal deems reason - able, either on the whole or on any part of the sum, for the whole or any part of the period between the date on which the cause of action arose and the date on which the award is made. Section 38 (6)(b) of the Act provides that unless the award otherwise directs, the interest rate applicable to an arbitration award will be 2% above the interest rate determined by the Central Bank of Bangladesh from time to time. Under Section 38 (7) of the Act, unless the parties agree otherwise, the arbitration tribunal is required to fix the costs of arbitration. With regard to costs, the arbitral tribunal is required to specify the following in an arbitration award: • the party entitled to costs; • the party who will pay the costs; • the amount of costs or method of determining that amount; and • the manner in which the costs will be paid. “Arbitration costs” include reasonable costs relating to the fees and expenses of the arbitrators and wit - nesses, legal fees and expenses, any administration fees of the institution supervising the arbitration and any other expenses incurred in connection with the arbitral proceedings and the arbitral award.
9. Confidentiality 9.1 Extent of Confidentiality
The Act is silent on the confidentiality of the arbitral proceedings and the award. The parties are free to agree on the confidentiality. Arbitration proceedings and award can also be confidential pursuant to the arbitration rules chosen by the parties. Terms of refer - ence or procedural orders may contain provisions on the confidentiality of the proceedings including plead - ings, documents and the award.
10. The Award 10.1 Legal Requirements
In terms of the form and contents of the arbitral award, Section 38 (1) of the Act provides that an arbitral award is required to be made in writing and must be signed by the arbitrator or arbitrators. In arbitral pro - ceedings with more than one arbitrator under Section 38 (2), the signatures of a majority of all the members of the arbitral tribunal will be sufficient and the reason for any omitted signature will have to be stated in the award. No reasons would have to be provided by the arbitral tribunal where the parties have agreed to that effect, or the award is an arbitral award on agreed terms under Section 22 (Section 38 (3)). The arbitral award must state the date and place of arbitration and the award will be deemed to have been made at that place (Section 38 (4)). After the arbitral award is made, a copy signed by the arbitrator or arbitrators has to be delivered to each party (Section 38 (5)). Section 40 of the Act allows any clerical, computa - tional, typographical or similar errors to be corrected on application of either party or on the tribunal’s own initiative.
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