Rule 7.1 - Administration and Proration of Reasonable Costs of Arbitration Pursuant to 1956§8-6-5.(a)Payment Schedule. It is hereby determined that five hundred dollars ($500.00) is a reasonable cost of an arbitration performed within these Arbitration Rules shall not exceed five hundred dollars ($500.00) and shall be apportioned as follows: (1) Except in consolidated cases, wherein one (1) or more parties is different, each party, (a party shall be all the plaintiffs and all the defendants, if more than one (1) of each) shall pay $100.00 in accordance with Arbitration Rules 7.1(c) 1 and 2. (2) If, at the conclusion of the arbitration hearing an award is rendered for the plaintiff and no rejection is filed, each party shall pay $100.00.(3) If, at the conclusion of the arbitration hearing an award is rendered for the defendant and no rejection is filed, the defendant shall pay $200.00 and the plaintiff will pay no fee. (b)Rejecting an Award. All matters rejected by any party shall be subject to Rule 5(b) regarding the filing fee for rejecting an award.(c) Billing. The Supreme Court Finance Office shall be responsible for establishing a process for billing. The Arbitration Office shall be responsible for collecting and transmitting to the Supreme Court all of the funds received by it pursuant to these Arbitration Rules, which shall be maintained and used exclusively for arbitration purposes. The monies assessed and apportioned as directed in paragraph (a) shall be collected by the Arbitration Office in the following manner:
(1) As to all cases certified to arbitration pursuant to Arbitration Rules 1(a), (b), and (c), all funds due to the court must be delivered to the Arbitration Office no later than thirty (30) days after the arbitration certificate has been received and filed by the Arbitration Office ;(2) As to all cases designated to arbitration or otherwise placed into arbitration where the arbitrator is to be selected or appointed within thirty (30) days, the funds due must be paid before the arbitrator is notified of the appointment or selection; or (3) As to all cases not rejected under Rule 5(b) the funds due shall be paid no later than forty (40) days after the arbitrator's award was received and filed by the Arbitration Office.