Fund Holding

ICAMEK Fundholding Terms and Conditions

Effective from 1 December 2025

ICAMEK agrees to act as fundholder as a standalone service in arbitrations that are not administered by ICAMEK. ICAMEK will receive funds to be paid by a Party or Parties to such an arbitration for the purpose of securing the payment of the Arbitration Costs and ICAMEK will use such funds to make payments in satisfaction of those costs, in accordance with the terms and conditions below.

Rule 1 — Fundholding Services

1.1 In its sole discretion, and without the need to state any reasons, ICAMEK offers a fundholding service for arbitrations not otherwise administered by the ICAMEK (Fundholding Services), in which ICAMEK will receive funds to be paid by a party or parties to such an arbitration (Party or Parties) for the purpose of securing the payment of the costs of the arbitration, as defined below. ICAMEK will use such funds to make payments in satisfaction of those costs.

1.2 Subject to Rules 2.1 and 2.2, the following terms and conditions effective from 1 December 2025 (Fundholding Terms and Conditions) shall apply to any Fundholding Services requested (Request) by a Party, the Parties, an arbitrator or any or all of the arbitrators (Arbitrator(s)) and any tribunal secretary appointed in the arbitration (Tribunal Secretary), who for the purposes of these Fundholding Terms and Conditions, will each be referred to as a Fundholding Party or collectively as Fundholding Parties.

1.3 Subject to Rule 1.4, the costs of an arbitration for which ICAMEK can provide Fundholding Services (Arbitration Costs) consist of:

• fees and expenses of the Arbitrator(s) and Tribunal Secretary in accordance with Rule 5 and 6 below;
• fees charged by ICAMEK for providing the Fundholding Services in accordance with Rule 8 below; and, if applicable,
• fees of third parties providing a service in relation to the proceeding, such as hearing rooms, communications technology, and other support services, and any expert appointed by the Arbitrator(s) in accordance with Rule 11 below.

1.4 Subject to the ICAMEK's approval of a Request in accordance with Rule 2.2, ICAMEK is only prepared to hold funds in UGX, and USD, up to a maximum of USD one million, or equivalent, in aggregate in any single arbitration at any time.

1.5 In addition to terms that are expressly defined to include the plural, all other references in these Fundholding Terms and Conditions to the singular shall also include the plural, where applicable, and vice versa.

Rule 2 — ICAMEK's Approval to Provide Fundholding Services

2.1 A Request will only be considered if the following information is submitted by email to file@icamek.org, marked "Request for fundholding" in the subject line:

• a copy of the arbitration agreement or the underlying agreement containing the arbitration clause;
• the fundholding registration form (Annex A) (Fundholding Registration Form) completed by one or more of the Fundholding Parties;
• a confirmation email from each Fundholding Party that they agree to these Fundholding Terms and Conditions and the contents of the Fundholding Registration Form;
• if applicable, confirmation from each Fundholding Party that requests for payment require the preliminary approval of the presiding Arbitrator (see Rule 10.3);
• an email from each Fundholding Party confirming their respective bank account details; and
• confirmation that a non-refundable fee of UGX 150,000 (Registration Fee) has been deposited in the ICAMEK's bank account.

2.2 Once ICAMEK has received the Request and the Registration Fee in accordance with Rule 2.1, ICAMEK will decide in its sole discretion, and without the need to state any reasons, whether it is willing to provide the Fundholding Services and will inform the Fundholding Parties of its decision as soon as practicable.

2.3 No Party should deposit or seek to deposit funds with the ICAMEK (other than the Registration Fee) before the ICAMEK has confirmed its agreement to provide the Fundholding Services in accordance with Rule 2.2. Otherwise, and unless ICAMEK obtains satisfactory additional information, it may, in its sole discretion, and without the need to state any reasons, return the funds to the account from which they were paid.

2.4–2.8 Additional Fundholding Parties may be added with ICAMEK's consent. Any Fundholding Party who resigns, retires, or withdraws must notify ICAMEK promptly and a replacement must follow the same procedure. Amendments to the Fundholding Registration Form require notification to ICAMEK and all Fundholding Parties.

Rule 3 — Written Communications

3.1 Unless otherwise directed by ICAMEK, all communications shall be delivered in electronic form to file@icamek.org and any communication so delivered shall be treated as having been received.

3.2–3.4 All communications must quote the ICAMEK case reference number and use contact details set out in the Fundholding Registration Form. Changes to contact details must be notified to all Fundholding Parties and ICAMEK promptly.

Rule 4 — Advance Payment for Costs

4.1–4.7 The Arbitrator(s) may direct the Parties to make Advance Payments for Costs at such times as they think appropriate. All payments shall be made by direct bank transfer, quoting the ICAMEK case reference number. Once received and identified, ICAMEK will issue an acknowledgement. Payments become the property of ICAMEK to be disbursed in accordance with these Terms and Conditions. The Parties are not entitled to interest on any credit balance.

Rules 5–6 — Tribunal Secretary & Fees

5.1–5.3 If the Arbitrator(s) wishes for a Tribunal Secretary to receive payments, the Arbitrator(s) shall obtain written consent from the Parties on the fee rate, reimbursement rights, and cancellation charges, and provide the Tribunal Secretary's details to ICAMEK. If the Tribunal Secretary is replaced, the Rule 2.4–2.6 procedure must be followed.

6.1–6.2 The Parties shall be jointly and severally liable to the Arbitrator(s) and Tribunal Secretary for their charges and expenses at the rates agreed with the Parties and recorded in the Fundholding Registration Form, together with any applicable tax. Rate changes must be notified to ICAMEK and documented in a revised Fundholding Registration Form.

Rule 7 — Cancellation and Postponement Charges

The Parties shall be jointly and severally liable to the Arbitrator(s) and to the Tribunal Secretary (if any) for any applicable cancellation or postponement fees (including any applicable tax) which shall be charged at the rates recorded in the Fundholding Registration Form.

Rule 8 — ICAMEK's Fees

8.1–8.5 The Parties shall be jointly and severally liable for ICAMEK's fees and expenses for time spent administering the Fundholding Services, plus any incidental expenses and additional support services. Uganda-based Parties are liable for applicable VAT. ICAMEK will periodically render invoices and deduct fees directly from the account. All bank charges on transfers shall be borne exclusively by the Parties.

Rule 9 — Notification of Relevant Events

The Arbitrator(s) and the Tribunal Secretary have an ongoing obligation for the duration of the arbitration to ensure that the ICAMEK is copied in on, or informed of, all relevant correspondence concerning, and is notified of, any material changes or significant events that impact the provision of Fundholding Services.

Rules 10–11 — Payments and Third Parties

10.1–10.7 An Arbitrator and/or Tribunal Secretary may request payment to ICAMEK. Requests must include bank account details, currency, invoices or receipts, and must be consistent with agreed rates. Where a Presiding Arbitrator is required to approve requests, approval must be provided within five business days. If the account balance is insufficient, ICAMEK will inform the Arbitrator(s) who must direct the Parties to make further Advance Payments within 15 business days.

11.1–11.2 The Arbitrator(s) or Tribunal Secretary may direct ICAMEK to pay third parties (e.g., hearing rooms, transcription services, expert fees) directly from the account, subject to providing bank details, amount, and currency. ICAMEK will notify the Fundholding Parties once payment is made.

Rules 12–14 — Financial Summary and Account Closure

12.1–12.3 ICAMEK may, on its own initiative or upon request, provide a financial summary at any stage of the arbitration.

13.1–13.4 Before closing the account, ICAMEK will invite each Arbitrator and the Tribunal Secretary to submit a final request for payment. Once all final payments are made, ICAMEK will issue final invoices for its fees and close the account.

14.1–14.6 Any excess balance remaining after account closure will be paid in accordance with a written agreement between the Parties or Arbitrator instructions, or in the same proportions as the original deposits. ICAMEK will make reasonable attempts to contact the Parties; if no response is received within 90 days of notice, the Party is deemed to have waived the excess amount.

Rules 15–18 — Compliance, Data Protection, Liability & Governing Law

15.1–15.3 All dealings are subject to requirements relating to bribery, corruption, terrorist financing, fraud, tax evasion, money laundering, and economic or trade sanctions. ICAMEK may refuse any instruction or payment that may involve Prohibited Activity or breach any applicable law. Fundholding Parties must provide any information or documents reasonably requested by ICAMEK for compliance purposes.

16.1–16.2 Any processing of personal data by ICAMEK is subject to applicable data protection legislation. ICAMEK and the arbitral tribunal may issue directions addressing information security or data protection, binding on the Fundholding Parties.

17.1–17.2 ICAMEK is not liable for any loss incurred as a consequence of the failure of, or any act or omission by, any bank holding funds. None of the ICAMEK (including its officers, members, and employees) and the Registrar shall be liable to any Fundholding Party for any act or omission in connection with the Fundholding Services, save where such act or omission constitutes conscious and deliberate wrongdoing, or to the extent any limitation is prohibited by applicable law.

18.1–18.2 These Fundholding Terms and Conditions, together with the Fundholding Registration Form, constitute the entire agreement between ICAMEK and the Fundholding Parties concerning the provision of Fundholding Services. These terms are governed by, and shall be interpreted in accordance with, the laws of Uganda.