Any dispute arising out of this contract or juridical act, as well as those who result from or relate to it, - including any question regarding its existence, validity, termination, interpretation or performance -, will be solved definitively by arbitration in law, administered by the Court Arbitral of the Distribution Business Council (TACED) in accordance with the Rules of Arbitration in effect on the date of filing of the request for arbitration. The Court Arbitral to be appointed for this purpose shall be composed of one arbitrator and the place of arbitration and substantive law applicable to the resolution of the dispute, are those of the domicile of TACED.

Article 1.- Adequacy of the arbitration to the law and this Regulation.

1. The submission of the Parties by the arbitration agreement to the Court of Arbitration of the Distribution Business Council (TACED), the Spanish Association of Business Council of Distribution (CED) involves the administration of arbitration and the integration of the convention and the designation of the arbiters in all matters not contemplated by the parties, shall be in accordance with the Rules of the said Tribunal in force at the time of commencement of the arbitration without prejudice to the provisions of the Arbitration Act of 23 December 2003, or the current in each times.

2. By virtue of the submission, the parties obligate themselves to comply with the decisions of the arbitrator.

3. The arbitration administered by the TACED will always be right and delivered, preferably, by a single arbitrator, understanding that this is the choice of the parties, when they have been subjected to this Court Arbitral, without manifest on the number of the arbiters involved.

4. The TACED will reject those arbitrations which do not conform to the Act and may reject, by reasoned agreement, those where the parties agree differently from the provisions of this Regulation.

5. The TACED can accumulate arbitration proceedings during the pre-arbitration procedure or at the request of any of the arbitrators in the arbitration process.

Article 2.- Criteria for interpretation.

1. Prior to the confirmation of the appointment of the arbitrators character, is the responsibility of resolving TACED of its own motion or at the request of either party, answer or queries which may arise in relation to the interpretation, application or performance of this Regulation.

2. Any reference in this Regulation to the expression "arbitrator" or "the arbiters" shall be understood to Arbitration Board, composed in this case by several arbitrators. Also the use of the singular or the plural, "arbitrator" or "arbitrators" will be understood to mean any number of arbitrators, one or more, he / the appointed / in each procedure or file.

3. Any reference expressed in the singular in this Regulation shall include the plural in cases where there is plurality of parts and vice versa.

4. Any reference in this Regulation the term "arbitration" shall be understood as synonymous with "procedure", "arbitration actions" or "arbitral proceedings".

5. Any reference in this Regulation the term "record" shall be understood to all "actions" or "arbitration actions", as well as papers, documents, reports, resolutions, notifications and communications of any kind contained incorporated into and linked to same.

6. Any reference in this Regulation to the term "communication" includes any notice, interpellation, warrant, trade, requirement in writing or information sent or received to or by either of the parties, or by the arbitrators or, by the TACED, among others, and for illustrative purposes only, by postal mail telegram, fax, burofax, messaging, email or any other means, as long as it acknowledges its receipt by the recipient thereof.

7. Any reference in this Regulation to the term "demand" will be understood as "counterclaim", on the terms set in section c) of the Article 4 of Law 60/2003 of 23 December, arbitration.

8. The reference to the Arbitration Act shall be understood as a reference to which the arbitration legislation applies and is in force at the time the request for arbitration is submitted.

Article 3.- Multiparty arbitration.

When a plurality of interrelated contracts contained agreements of submission to the TACED written in substantially similar terms, parts of each party who have reciprocally not signed the agreements will have active and passive legitimation with each other to promote and / or intervene in arbitrations arising from those contracts and that will affect them by reason of the matter contained in the set of all of them.

Article 4.- Matters, types of arbitration and rules applicable to substance of the dispute.

1. Disputes over matters of free disposal according to law are subject to arbitration.

2. By submission to TACED, it is understood that the parties have opted to the arbitrators decide the controversies or differences brought before them according to law, unless the parties expressly indicate their intention that the arbitration is equity.

3. The arbitrators will decide the controversies or disagreements brought before them in accordance with the rules chosen by the parties, being applied in the absence thereof those deemed appropriate.

4. Without prejudice to the above, the arbitrators shall decide in accordance with the terms of the contract and taking into account the uses applicable to the case. Any indication regarding the legal system of a particular State is concerned, unless otherwise expressed , the substantive law of that State and not to its conflict of laws rules. The lack of indication about the applicable substantive law, and if it does not set the agreement of the parties or the rules of private international law applicable, shall mean the automatic application of the law of the state where it has its headquarters on TACED.

Article 5.- Headquarters and place of arbitration.

1. TACED headquarters and secretariat, located in Barcelona (Spain), Gran Via de Carles III, 84, C.P. 08028.

2. The place of arbitration will coincide with TACED headquarters, unless the TACED, analyzed the circumstances and after hearing the parties, consider another more appropriate place.
In the place of arbitration audiences and meetings resulting from its processing will be carried out, without prejudice to Arbitrator/s can hold meetings for the purpose of deliberation or any other object that does not require the presence of the parties or their representatives outside the place of arbitration.
In the case of hearings, taking evidence or any other action which has convened the parties or their representatives, holding audiences using video media conference or the like is contemplated, considering the domicile of the parties, in particularly in cases of international arbitration.
So that audiences can take place outside the place of arbitration, or using technical means that allow holding the event without the physical presence of the parties, by video conference or other means that allow the identification of the parties or their representatives and record of holding the event, the founded resolution upon the the Arbitrator/ s will be necessary, designating the place, the technical means to be used and ensuring consistency of actions, by recording them, or means deemed necessary to be each.

1. The award for which end the arbitral procedure shall be dictated in the place of arbitration.

Article 6.- Language of the arbitration.

1. The initial language of the arbitration shall be used in drafting the arbitration agreement, unless otherwise agreed by the parties.
In cases in which the arbitration agreement is drawn up in two or more languages, and unless that instruction is provided in more than one language, the parties by mutual agreement or TACED, in the absence of it, will decide what will be the initial language of the arbitration.

2. Once constituted the arbitration, the arbitrators -unless otherwise agreed by the parties regarding the language or languages of the arbitration- analyzed the initial language of the arbitration and after hearing the parties and valued all the circumstances shall decide the language of the arbitration.

3. The arbitrators may order that any documents submitted during the proceedings in the original language must be accompanied by a translation into the language of the arbitration.

Article 7.- Notifications and communications.

1. In his first letter, each party must provide an address, phone number and email for notifications and communications. Any notification or communication during the prosecution of the arbitration need to be directed to that part will be sent to the address given by it, notwithstanding the fact that subsequently throughout the arbitration procedure, can be modified. In this case, any change in that direction should be brought immediately to the attention of TACED, arbitrators, and the remaining parts, have effect thereafter.
While a party has not designated an address for correspondence and communications, and this is clearly evident from the documentation of the arbitral proceedings, the notifications to that party will be directed to their last domicile, habitual residence, known address or known establishment.
In any case, it is for the party who initiates arbitration to provide the TACED full identity, last domicile, habitual residence, address or business of the party or parties demanded of what they have or can reasonably be aware of, until such part or parts are presented in the arbitral proceedings and designated an address for correspondence and communications.

2. Communications may be made by delivery against receipt, registered post, courier, or electronic communication that provides a record of it issue and receipt. Any notification or communication will be considered received on the day on which it was delivered personally to the recipient thereof, in which it was delivered in his domicile, habitual residence _ establishment known address, or when it was attempted to be delivered in the case of not be found, after reasonable inquiry, none of the aforementioned places.
For the purposes of determining the beginning of the computation of any period in the case of electronic communications shall be deemed received on the day of transmission according to the seat of arbitration.

3. Shall be valid notification or communication on condition that it enables _ sending and receiving letters and documents noting their referral and delivery. The use of electronic communication making use electronic signature, on the terms set in art. 3.1 of this Regulation and shall take priority TACED may agree to exclusive use after hearing the parties.

4. In all communications, papers and documents that a party moves to the arbitrators shall simultaneously send a copy to the other party and to TACED. Same rule to communications and decisions of the Court Arbitral directed to parties or any of them will apply.

5. In any case, the parties communications may be addressed in the required form or in the absence of such stipulation, in accordance with the established practice between the parties in their relationships.

Article 8.- Calculation of time limits.

1. The deadlines established in this Regulation shall begin to run from the following day to that on whic such notice or communication has been given and be counted on them the due date.
All communication shall be deemed received on the day it is delivered or attempted to be delivered by any means affording evidence of their referral and delivery.

2. The deadlines established for days in this Regulation shall be calculated in calendar days.
For purposes of computation, implementation of actions and deadline for issuance of the arbitral award, August is deemed unfit unless the expressly enable of TACED.
If the last day of the deadline set would be unfit in the place of receipt of the notification or communication, it will be extended until the next working day.

3. Saturdays and holidays at the place of arbitration are considered unfit for the purpose of holding evidence hearings or physical presentation of writings.

4. The TACED or, after confirming his appointment, the arbitrators, after hearing the parties, may order the suspension of the deadlines in cases of force majeure, ex officio or at the request of the party who suffers, resumed his computer at the time the determining cause had ceased of the suspension.

5. The deadlines established in this Regulation are in the circumstances of the case, subject to change by the TACED, reduced, suspended or extended until confirmation of the appointment of arbitrators and the arbitrators, since that time, and always subject to the deadline to make the award.

Article 9.- Documentation of the arbitration proceedings. Conservation and custody of the arbitral file.

1. Of all the papers and documents which will form part of the arbitration file must accompany many copies as there are parties, plus an additional copy for each arbitrator. In the case of electronic communication shall be sent by such means to the parties, the arbitrators and the General Secretary.

2. Is for the General Secretary of TACED the conservation and custody of the arbitral file, once the award was dictated or completed the actions, corresponding until then to the arbitrators.
after one year from the date of issuance of the award by an end to arbitration, or any other decision according to law or this Regulation has determined the termination of the proceedings, will cease the obligation to preserve and maintain the Arbitration documentation and record.

3. Either party may request at their expense, the breakdown, return and delivery of documents and reports that have been submitted during the proceedings, while in force a duty to preserve and maintain the file of the arbitration referred to in paragraph above.

Article 10.- Duty of confidentiality.

1. Unless otherwise expressly agreed by the parties, the TACED, the arbitrators and the parties are obligated to maintain the confidentiality of the arbitration, the information which is known through it, its deliberations, arbitration proceedings and, where appropriate, on the terms and content of the award. The same duty will affect the parties regarding the information referring to the other parties to which they had access during and/or following the arbitration procedure. Notwithstanding the foregoing, the arbitrators may adopt, ex officio or upon request, the measures they deem appropriate to preserve and ensure the effectiveness of the duty of confidentiality, and in particular those aimed at the protection of trade secrets or industrial.

2. So that TACED or by any of the parties may proceed to publication of the award to end the arbitration will be necessary for both parties expressly consent within the period provided for clarification of the award. The arbitrator shall not use confidential information acquired during the arbitration for personal or others advantage or to affect adversely the interest of another.

Article 11.- Representation of parties.

1. The parties may be represented by persons of their choice, whatever it is, in particular, nationality or profession. The names, addresses, phone numbers, fax, email or other references for communication purposes of the representatives must be communicated to TACED, to the other party and, after its establishment, the Arbitrators.

2. Each party shall ensure that its representatives have sufficient time available to allow the arbitration to proceed quickly and efficiently.

3. The parties may also be assisted by persons of their choice. The number of representatives and advisers will be limited to one per intervening party (a representative and an adviser).

Article 12.- Integration of the arbitration agreement.

For proper integration of the essential elements of the arbitration, if any extreme had not foreseen by the parties in the arbitration agreement, or if no by mutual agreement or expressed in the introductory writings, and without prejudice to the faculties that under this Regulation reserves the TACED shall decide, taking into account the circumstances of the case, about the number of arbitrators, the place of arbitration and issuance of the award, language, appointment of the arbitrator and, if it were the case, the chair of the aribitral school and the time for making the award.

Article 13.- Appointment of arbitrators by TACED

1. If the parties have not expressly designated in the clause, an arbitrator or specific arbitrators, TACED will choose freely according to their criteria of independence and freedom, the nature of the question, the language of arbitration, the address the parties and the venue of arbitration, without other limitations than those imposed by the Act

2. In international arbitration, the national TACED may appoint arbitrators from a different party to the country.

3. The arbitrators appointed by the parties will require the confirmation of TACED, leaving those subject to this Regulation and the fees agreed by TACED as part of your rate.

4. In the case of lack of agreement on number and identity of all arbitrators, TACED will agree the appointment of a single arbitratorexcept when it considers that the nature, complexity and other circumstances of the dispute submitted to arbitration requires the appointment of an arbitration panel, in which case it will be composed of three members, who shall be appointed entirely by the TACED designating these by common agreement the President. If they fail to do so, after 3 days, the President of the Arbitration Board shall be appointed by the TACED.

Article 14.- Requirements to be an arbitrator.

1. In arbitration of law with a single arbitrator the TACED will appoint as such to a practicing lawyer, always respecting incompatibilities imposed by the Act if it were an arbitration board, at least one member shall bear this condition, and in turn shall preside the Arbitration Board. If the arbitration panel was constituted by more than a practicing lawyer, the election of President of the College, shall be determined in accordance with the procedure set out in art. 13.4 of this regulation.

2. They cannot be appointed in this institutional arbitration arbitrators who form part of TACED or the Board of the Business Council Distribution Association, unless the parties mutually agree to designate them as arbitrators.

3. If any member of TACED had any direct interest in the dispute submitted to arbitration, incompatibility will be affected to participate in decisions relating to that dispute.

Article 15.- Arbitrator acceptance and challenge.

1. The appointment of the arbitrator and the other individuals referred to in Article 13 shall be notified to the person chosen as arbitrator, forwarding a copy of the relevant introductory writings and documents submitted by the parties.

2. Within five days after the notification referred to in the first paragraph of this article, the arbitrator shall communicate in writing to TACED, their acceptance in which a declaration of independence and impartiality and shall include that their personal and professional circumstances will allow him to meet diligently the charge of arbitrator and in particular, the periods specified in this Regulation and to put into immediate knowledge of TADED any circumstances that may be relevant to his appointment, or that occurs after it and along the arbitration procedure, or directly or indirectly justified MIGHT raise doubt about its impartiality, independence or fitness as a arbitrator. Not to accept the appointment, TACED will proceed with the following list.

3. Once received by the TACED acceptance of the arbitrator, the Court will notify the parties, who may enforce the objection within five days of the notification.
The processing and resolution of the motion for disqualification will correspond to TACED expressly imposing the shores of the incident to the instant challenge part if their application is rejected.
If the motion for disqualification or the challenged arbitrator or arbitrators are expected to accept the challenge before them urged, will end the incident without further proceedings and automatically appoint the following from the list.

4. The recusals by later and unknown facts and claims removal of the arbitrator shall be raised as soon as the fact that they are based on is known. The procedure in the previous paragraph for the initial challenge will continue.

5. The replacement of an arbitrator shall suspend the arbitration procedure and resumed once it has been appointed as substitute, by the same process by which he was appointed the substituted, in which case the arbitrators or TACEDin the case of a single arbitrator, after hearing the parties, will decide whether or not there to repeat actions already taken.

Article 16.- Precautionary and provisional measures.

1. The arbitrators may, unless otherwise agreed by the parties, adopt precautionary or provisional measures it deems necessary at any time during the procedure.

2. Arbitrators may subordinate the adoption of such measures to the previous constitution of sufficient security or guarantees that the requesting party will be required in the form, amount and time of their own choosing. Such substitute bond may also be required after the adoption of the interim measure.

3. To arbitral decisions on interim or provisional measures, whatever form they take, will apply the rules on annulment and enforcement of the Arbitration Act that is applicable.

Article 17.- Principles of arbitration proceedings.

The arbitration proceedings shall be subject to the principles of immediacy, hearing, speed, contradiction and equality of the parties.

Article 18.- Request for arbitration, admission and transfer thereof. Response to the request for arbitration and the possibility of counterclaims.

1. The arbitration procedure will begin with the presentation in writing to the TACED of the request for arbitration, including a copy of proof of payment of admission rights as well as the following references:

a) Complete identity and / or company name, address, phone, fax, email, and other relevant data, both the plaintiff or plaintiffs moments of the request for arbitration, as the defendant or defendants, and their representatives and advisers, to enable the identification, contact and communication with them by TACED;

b) Brief description of the dispute and pretensions referred to arbitration, and the amount thereof;

c) Identification of the action, contractual documents or documents or legal transaction from which the dispute submitted to arbitration derives, as well as the arbitration agreement or specific agreement that binds the parties and from which submission to the Court is deduced or derived–providing, as the case may be, a copy thereof -, unless said submission is sought in the request for arbitration itself as a result of its acceptance by the defendant or defendants; and

d) In the case of not collected in the prior arbitration agreement, the proposal on the type of arbitration, number and identity of all arbitrators, language and place of arbitration, as well as rules governing the merits of the dispute. If not mentioned in the application, it is understood, his interest in the integration of the arbitration agreement in accordance with the stipulations contained in this Regulation.

2. Submitted the request for arbitration, and before to its admission, may require the TACED instantly part of the remedying of any defects or omissions found in the same, giving it within 5 days. If within that period the deficiency or omission appreciated remedied, the request for arbitration shall be deemed validly submitted and accepted, its effects far back to the initial time of submission. Otherwise, will proceed to the rejection of the request for arbitration, communicating it instantly.

3. Admitted, the arbitration request will be transferred to the defendant or defendants, who must present themselves before the TACED, and respond in writing within 15 days, collecting the following entries given:

a) Complete identity and / or company name, address, phone, fax, email, and other relevant information enabling their identification contact and communication as well as their representatives and advisers;

b) Brief allegations concerning the description of the dispute, pretensions subject of the request for arbitration and amount thereof;

c) Brief allegations of the acts, contractual or legal business documents which in the defendants opinion the dispute submitted to arbitration derives from and, ultimately, on its position regarding the existence, validity or enforceability of the arbitration clause or agreement that links specifically the parties, and that in turn derives the submission to TACED. In the supposition that the submission to TACED had been concerned through the applicant's own request for arbitration, acceptance or rejection, pure and simple, of the same; and, if

d) Their proposal for the type of arbitration, number and identity of all arbitrators, language and place of arbitration, as well as rules applicable to the substance of the dispute submitted to arbitration. If not mentioned in the application, it is understood, his interest in the integration of the arbitration agreement in accordance with the stipulations contained in this Regulation.

4. Made themselves known the defendant or defendants, and answered the arbitration request, prior to its admission, the TACED may also require correction for the reasons stated in paragraph 2 -. Of this article.
This reply, and attachments thereof, will be transferred through a copy to the plaintiff.
The lack of answer to the request for arbitration within the prescribed period, or correction of identified deficiencies or omissions shall not prevent the continuation of the proceedings for their procedures, and the nomination and appointment of the arbitrators.
Such lack of response will not involve the arbitration pursuant candidates proposed by the plaintiff, appointing arbitrators in accordance with the provisions of art. 13 of this Regulation.

5. In its reply to the arbitration request the defendant or defendants may announce its intention to make a counterclaim. In this case, the notice of counterclaim shall contain the following references:

a) Brief description of the dispute, pretensions subject to counterclaim in the same amount;

b) Identification of the act, document or contract documents or juridical business resulting from the counterclaim, providing a copy thereof.

c) The indication if any of the rules applicable to the substance of the dispute subject to counterclaim.

The announcement of counterclaim shall be transmitted to the applicant by the end of six days, to briefly rule on the dispute, pretensions, amount and rules applicable thereof, as well as its position on the applicability of the arbitration agreement to the counterclaim posed.

Article 19.- Initial review of the existence, validity and scope of the arbitration agreement.

1. In the case that, notificated the arbitration request, the defendant or defendants did not appear before the TACED within the required time limit, answering the same, or are unfavorable to that denying the submission of the matter to arbitration and / TACED or submission to, justifying an exception or doubting about the existence, validity and scope of the arbitration agreement, the TACED will rightly take the appropriate decision, communicating it to the parties.

2. If TACED decided to proceed with the arbitration procedure, the final decision on the existence, validity and scope of the arbitration agreement and competence of the arbitrators shall correspond to TACED.

3. On the contrary, if the TACED decided not to continue with the arbitration procedure, the plaintiff or plaintiffs, within a period of five days, may oppose the decision of the TACED, in which case it will continue with the arbitration procedure, corresponding to the arbitrators the review of the decision of the Commission and the final decision on the existence, validity and scope of the arbitration agreement and the jurisdiction of the same. In this case, the plaintiff or plaintiff that objects to the decision-contributing of TACED must provide the corresponding deposit slip together with the notice of opposition to the present-effect, the amount depending on the amount of their secured pretensions in the letter of request for arbitration, or reply to it, corresponding to 30% of the rights management TACED and 30% of the fees of the arbitrators. No proceeding shall be given to the opposition made without stating the said consignment.
The arbitrator or arbitrators shall decide the matter within a period of 5 days from the date of confirmation, giving copy of the judgment to the parties. If the decision of TACED was ratified, the payment of the costs of the incident will be imposed to the instant party, with loss of the amount of the appropriation made, rejecting the administration of the arbitration; if, on the contrary, they revised the decision of TACED, they will agree on the continued processing of the arbitration, discounting the party the amounts appropriated from which concepts finally correspond in management rights and fees of the arbitrators.

4. Requirements contained in the preceding paragraphs shall also apply to the counterclaim, considering the plaintiff or plaintiffs, defendants upbraided.

Article 20.- Accumulation and intervention of third parties originally not plaintiffs or defendants

1. The TACED, upon request by a party, may grant, prior transfer of claims to arbitrators and parties for a period of three days, the accumulation to an arbitration already ongoing, followed between the same parties, governed by the same procedure and pending resolution of a new request for arbitration, for which he also must take into consideration, among other circumstances, the nature of the new claims, their connection with those made in the process already initiated and the state in which the proceedings are held. In the cases where the TACED decides the new request with a pending Court Arbitral constituted and proceedings shall be presumed that the parties comply with the arbitrator or arbitrators acting in the first procedure.
The accumulation will be agreed when the award is to be made from among the preliminary procedures may produce effects on the other, or in those instances when between objects from arbitrations whose accumulation is requested existed such a connection that, followed by separate awards could be issued with statements or contradictory, incompatible or mutually exclusive basis.
The decision to finally taken by the TACED about the accumulation raised can not be appealed.

2. While arbitration is pending resolution, arbitrators, at the request of a party, and after forwarding the request to the other parties by common period of three days, may agree to the intervention of one or more third parties in the arbitration, provided they prove have direct and legitimate interest in the outcome and that the third party has expressed its agreement in writing.
The application and admission to the intervention of a third party in the arbitration shall be subject to the payment by him of the rights of administering the TACED and arbitrators' fees, as well as the experts who, where appropriate, intervened or had participated during the processing arbitration under the terms laid down in this Regulation.
In any case, the application and acceptance of the intervention of a third party in the arbitration shall not involve the suspension of the processing thereof, or imply that the actions already undertaken, subject to third party whose intervention allowed in arbitration relate back had been agreed to make the arguments necessary for his defense which was prevented by making procedural moments correspond to a previous admission to the procedure. Such allegations shall be given to the remaining parts of common term of five days.

2. While arbitration is pending resolution, arbitrators, at the request of a party, and after forwarding the request to the other parties by common period of three days, may agree to the intervention of one or more third parties in the arbitration, provided they prove have direct and legitimate interest in the outcome and that the third party has expressed its agreement in writing.
The application and admission to the intervention of a third party in the arbitration shall be subject to the payment by him of the rights of administering the TACED and arbitrators' fees, as well as the experts who, where appropriate, intervened or had participated during the processing arbitration under the terms laid down in this Regulation.
In any case, the application and acceptance of the intervention of a third party in the arbitration shall not involve the suspension of the processing thereof, or imply that the actions already undertaken, subject to third party whose intervention allowed in arbitration relate back had been agreed to make the arguments necessary for his defense which was prevented by making procedural moments correspond to a previous admission to the procedure. Such allegations shall be given to the remaining parts of common term of five days.

Article 21.- Initial act.

1. Confirmed the appointment of the arbitrator/s, once consigned the amount of funds required provisions of the parties, they will be given the file.
The arbitrator/s will convene the parties to a hearing to be held within the time limit of ten days following the receipt of the arbitral proceedings, the object will be to raise an initial certificate witch will include, inter alia, the following information:

a) Full identity, description and address of the arbitrator/s;

b) Full identity and/or company name and address of the parties, their representatives and/or advisors, in maximum number and identity of each one of them;

c) Summary of the sought by the parties and determine the terms and scope of the dispute in the arbitration;

d) Language, place and type of arbitration: of law, in accordance with art. 1.3 of this Regulation, national or international. Being an law arbitration, rules applicable to the merits of the dispute submitted to it, being, in the absence of agreement between the parties, as provided in Article 4.4 of this Regulation;

e) Details relating to the rules applicable to the procedure, in schedule of performances, empowering in this case the arbitrators to modify it when circumstances require it, that within the limits and restrictions set out in Article 29 of these Regulations, unless its character unpostponable expressly provided or in the case of the accelerated procedure.

2. Always in comformity with the requirements contained in this regulation, with the agreements adopted by the parties, and with the terms of the initial act to which the preceding paragraph, the arbitrators may conduct the proceedings in the manner in every moment considered most suitable.

3. The arbitration procedure shall be conducted ex officio and drive by the resolutions issued at any time by the arbitrators, in accordance with the rules the parties have chosen, taking into consideration the stipulations of the act, contract or juridical business binding on the parts and uses applicable to the dispute in arbitration. In the absence of rules chosen by the parties, shall be for the arbitrators to apply the deemed most appropriate in view of the nature and purpose of the case presented and the allegations and claims made by them, taking into account the provisions of art. 4.4 of this Regulation.

4. If a party, whatever their legal status, knowing the violation of any provision of this regulation or any requirement of the arbitration agreement, including those required by the specific regulations that apply, would go on with the arbitration without report as soon possible, such infringement, shall be deemed to have waived its challenge.

Article 22.- Claim and defense.

1. The claimant or claimants shall make written demand within a period of twenty days from the date of initial referred to in Article 21.1 of these Regulations Act.
The statement of claim, to which documents and reports in which the party bases its claim for her right and claims deduced of it will be added, will set precisely the requests that the party is interested in, establishing in any case the amount in dispute.
After the term to formalize the demand without this been filed, the arbitrators shall dictate the resolution having finished the arbitration, expressly imoposition of the costs to the plaintiff or plaintiffs who had not raised their demand, unless any of the other plaintiffs had formulated within their demand term, or the defendant or defendants, in their response to the request for arbitration, had announced their intention to make a counterclaim in which case the arbitration will continue to give them transfer to such efects.

2. Submitted the statement of claim, and transfering it to the defendant or defendants, they must formulate the statement of defense within the period of twenty days.
Once the term for filing the claim has elapsed and it has not been presented in time, the arbitrators shall issue a decision deeming the notification time-barred, and proceeding with the arbitration procedure, without this omission being considered an acquiescence to or acceptance of the facts or arguments alleged by the plaintiff.

Article 23.- Counterclaim and new claims.

1. In the self defense, the defendant or defendants may make a counterclaim against the plaintiff, plaintiffs or any of them. The filing of the counterclaim and the writing thereof shall conform to the requirements laid down for the demand.

2. Submitted the statement of counterclaim, the same will be transferred to the plaintiff or plaintiffs against which it is directed, term up to 10 days to object to the counterclaim raised if its right is interesting.

3. The formulation of new claims requires authorization of the arbitrators, considering the nature of the same, the process status and other relevant circumstances.

Article 24.- Proofs.

1. Submitted the statement of defense or time elapsed for it, a test and practice will be proposed as foreseen in the Initial Act within 40 days, except if there was full compliance in terms of the facts or the parties should refuse unanimous expressly a preparatory inquiry of arbitration, requesting the issuance of the award on the basis of papers, documents and judgements, if any, provided with the same.

2. The arbitrators may decide to carry out such other evidence as they deem necessary for the proper resolution of the dispute submitted to arbitration. Also may require the parties to contribute to the proceedings, within the period established for that purpose, any relevant information, data, documentation, property or evidence in the possession thereof, or whose practice depends directly or indirectly on them.
If a form of evidence was in the possession or under the control of a party, and they unreasonably refused to submit or access to, the arbitrators may draw from such conduct deemed applicable conclusions on the facts in evidence.
The practice test will be developed based on the principle that each party is entitled to know with reasonable advance the evidence on which the other party bases its allegations.

3. Arbitrators freely assess the whole result of the evidence taken according to the rules of the sane critic.

Article 25.- Hearings.

1. The arbitrators may resolve the dispute solely on the basis of documents and judgements submitted by the parties, unless one of them requested the holding of a hearing.

2. The hearing may be held if one of the parties convened in due time, did not appear without a justifiable reason.

3. The direction of the hearings rests exclusively with the arbitrators, resulting from application what is set out in art. 5 of this Regulation.

4. Hearings shall be held in camera unless the parties agree otherwise.

5. Prior to the conclusion of the hearing, the arbitrators may submit to the parties a list of questions to be answered with particulary attention, with the aim of an effective holding thereof.

Article 26.- Testimonial evidence.

1. For the purposes of this Regulation, shall be considered a witness any person providing a statement about their knowledge of any matter of fact.

2. The arbitrators may dispose of witnesses to testify in writing, without prejudice to possible further interrogation arranged before the arbitrators and in the presence of the parties, orally or by any means of communication which make their presence unnecessary. The oral testimony of the witness shall be carried out whenever required one of the parties and agreed by the arbitrators.

3. If a witness summoned to appear at a hearing for questioning did not appear without a justifiable reason, the arbitrators may consider this fact in their assessment of the evidence and, where appropriate, consider not to have been provided the written statement, as deemed appropriate in attention to the circumstances.

4. All parties may ask the witness questions they deem appropriate, under the supervision of the arbitrators on their relevance and usefulness. The arbitrators may also ask the witness questions at any time.

5. When witnesses incur serious contradictions, the arbitrators, ex officio or upon request, may agree to submit to confrotation. It may be also be agreed by the arbitrators, in view of the respective statements, a confrontation between the parties, between them and one or more of the witnesses, or only among the witnesses. This taking of evidence shall be requested, or in the case of agreed case, following interrogation.

Article 27.- Expert evidence.

1. The parties shall provide with their statements of claim, of reply and, where appropriate, of counterclaim and of reply to this, the reports referred to the facts and circumstances set forth in those letters that they consider appropriate to better defend their interests, issued by experts appointed by them freely.
Notwithstanding the foregoing, the arbitrators are empowered to appoint ex officio or upon request, one or more experts from the list provided by the TACED to issue in writing judgements on specific issues relating to the object and pretension of the dispute submitted to arbitration, defining its mission and scope of the request.

2. If the experts had been appointed by the arbitrators, the parties may also have other expert witnesses to testify on the matters discussed. The arbitrators, ex officio or upon request, may agree to hold confrontation between experts.
El Tribunal Arbitral podrá, a su discreción, ordenar que los peritos designados por The Court Arbitral may, at its discretion, order the experts appointed by the parties to go to present or to be presented expert judgements on the same issues or related matters, to meet and deliberate about such issues. At that meeting, the experts appointed by the parties must attempt to reach agreement on the matters they relate in their expert judgements and record in writing those points on which they come to an agreement, as well as those others over there is a disagreement and the reasons therefor.

3. Shall be applicable to the experts appointed by the arbitrators forecasts of independence, impartiality, suitability and availability for arbitrators listed in Article 15 of this Regulation.
To this end, the experts appointed by the arbitrators must, prior to his appointment, sign a declaration to that effect in accordance with model approved by the TACED.

4. The parties may object to experts appointed by the arbitrators when they meet circumstances that give rise to justifiable doubts as to their impartiality, independence, suitability or availability to carry out the proposed expert opinion.
The challenge must be formalized within a period of the five days following to the appointment of the questioned expert, or failing that, from the date the claimant would know the facts and circumstances to support that challenge, being transferred therof for allegations from the rest of the parties and the challenged expert, by common period of three days, after which the arbitrators will decide on the challenge, expressly imposing the costs of the incident to the claimant if their application was finally rejected.

5. The parties are obliged to make available to the expert any relevant information, data, documentation, property or evidence in its possession, directly related to the dispute subject to arbitration, and that he considers appropriate to carry out the entrusted expertise, at all times facilitating the mission of the expert.

6. The expert must complete their report within the time frame established in the Mission Statement, after hearing the parties, or failing that, in the period determined by the arbitrators.

Article 28.- Conclusions of the parties and closing of the investigation stage of the procedure.

1. Once the evidence has been given, the arbitrators must inform the parties in a standard term of ten days, so that they may present their conclusions in writing on the facts comprising the dispute submitted to arbitration and the result of the evidence presented. That procedure may be replaced or completed by a process of oral conclusions, at the request of all the parties to the arbitration.

2. Once the conclusions have been made, the arbitrators must declare the preliminary investigative stage of the procedure to be closed. After this date no writ, allegation or evidence may be presented unless the arbitrators authorise this due to exceptional circumstances.

Article 29.- Time frame, method, content and notification of the award

1. The arbitrators must decide on the dispute subjected to arbitration and on the causes of action of the parties in one single award or in as many partial awards as they deem necessary, that must be pronounced within the five months following the date on which the reply to the claim or the counterclaim was presented or the expiry of said term.
Said term of five months may be extended under special circumstances for an additional period not exceeding one month. Only the TACED can decide on an extension.

2. Unless the parties have agreed otherwise or it concerns an award by agreement between them, as referred to in the Article below of these Regulation, the award must always be justified by the arbitrators and be in writing and signed by them, who, if applicable, may express their differing opinion with good reason.

3. The date on which the award was pronounced and the place of arbitration must be recorded therein.

4. The arbitrators must expressly state the arbitration costs in the award, under the terms established in Article 37 of these Rules. If by virtue of the issuing of court costs, one party becomes indebted to another, the award must expressly state the right to credit of the creditor party, for the corresponding amount. The Award may set amounts in any currency.

5. A través de la Secretaría del TACED se notificará el laudo a las partes en la forma y plazo que en su caso éstas hubiesen acordado o, en su defecto, mediante la entrega a cada una de ellas de un ejemplar firmado por los árbitros en los términos previstos en el apartado 2 del presente Artículo y en un plazo no superior a 10 días desde su constancia en la Secretaría del TACED. La fecha de notificación a las partes del laudo no tendrá que sujetarse al plazo máximo establecido para dictar el mismo.
The parties shall be notified of the award by the TACED's Secretary-General, in the manner and in the time frame agreed upon or otherwise, by delivering to each a copy, signed by the arbitrators under the terms established in section 2 of this Article and within a period not exceeding 10 days from the record at the TACED's Secretary-General. The date for notifying the parties of the award shall not be subject to the maximum time frame established for issuing same.

6. Before being notified, any of the parties may request through the TACED’s Secretary-General that the arbitrators register the award before a Notary Public, assuming the costs that this entails.

7. The award shall be issued in as many original copies necessary to correspond to the amount of people who intervened in the arbitration, as well as one extra original copy that shall remain included in the case file and in the TACED's possession.

Article 30.- Award by agreement of the parties

If, during the arbitral proceedings the parties reach an agreement that brings the dispute to a complete or partial end, the arbitrators shall deem the proceedings concluded with regard to the points agreed upon and if all the parties so request it, and the arbitrators do not see any reason to oppose it, this agreement shall be recorded as an award under the terms laid down for this purpose.

Article 31.- Correction, clarification and additional award.

1. Within the five days following notification of the award, unless the calendar of the proceedings establishes otherwise, any of the parties may make the following requests to the arbitrators:

a)The correction and rectification of any arithmetic error, typographical error, copy error or anything of the sort;

b)The clarification of a specific part of the award; or

c)The supplementary award with regard to the causes of action alleged during the arbitration procedure and not expressly resolved therein, or the correction of the partial overstepping of boundaries.

2. The arbitrators must inform the other parties of the request presented in a period of five days. Once said term has elapsed, the arbitrators must respond to the request for the correction of errors, and clarifications within the following ten days, and as regards the request for a supplementary award, within a period of twenty days following said request.

3. Furthermore, within the ten days following the date of the award, the arbitrators may proceed, ex officio, to correct the errors referred to in point a) of section 1 above.

4. The conditions relating to the method, content and notification of the award outlined in Article 29 of these Rules must be applied to the arbitrators’ decisions regarding the correction, clarification and supplementation of the award.

Article 32.- Enforceability of the award

1. The award is binding for the parties. The parties undertake to comply with it without delay.

2. The final award has res judicata effects and only a request for a review thereof pursuant to the provisions of the Spanish Civil Procedure Law may be filed against it for final judgments.

Article 33.- End of the proceedings

1. Notwithstanding the provisions of the above articles of these Rules on notification, and if applicable, the registration of the award before a Notary Public as well as regarding its correction, clarification and supplementation, the arbitrators shall cease to carry out their duties once the final award has been issued.

2. The arbitrators shall likewise order the termination of the proceedings, ceasing to carry out their duties in the following cases:

a) Withdrawal by the claimant requesting the arbitration, unless another party presenting themselves as claimant in the arbitration, or any of the defendants oppose this, and the arbitrators recognise it as a legitimate interest in obtaining a definitive solution to the dispute under arbitration;

b) Due to the lapsing of the term for filing the claim without it having been presented, under the terms established in the paragraph three of Article 22 of these Rules;

c) By mutual agreement of the parties; and

d) By agreement between the arbitrators in cases in which it is established that the processing of the arbitration is unnecessary or impossible.

Article 34.- Exclusion of liability

Ningún miembro del TACED, árbitro o perito del Tribunal Arbitral será responsable ante ninguna parte de acto u omisión alguna surgida de un arbitraje administrado por el TACED, salvo que se acredite dolo por su parte.

Article 35.- Summary procedure.

The summary procedure shall apply to all processes in which the total cost of the procedure (including the counterclaim) is less than 200,000 euros, as provided circumstances exist in which, in the opinion of the TACED expressed in the corresponding decision make it advisable to use the ordinary procedure, regulated by articles 19 to 33 of this Regulation. This shall also apply to all other processes by agreement of the parties whether in the arbitration clause itself or subsequently.
After the appointment of the Court Arbitral, the TACED may invite the parties to adopt the summary procedure in matters the simplicity of which renders it advisable.
The following shall be especially submitted to the summary procedure:

a) In the event that evidence other than documentary is proposed and this is agreed upon, a single hearing shall be held for the testimony and the ratification of experts, formulating oral conclusions in the same hearing or in written conclusions in the following five days.

b) Los árbitros dictaran laudo dentro de los 3 meses siguientes a la presentación de la contestación a la demanda o la contestación a la reconvención. Dicho plazo no será susceptible de prórroga. El Acta Inicial deberá dictarse dentro del plazo improrrogable de diez días a partir de la aceptación de los árbitros.
The arbitrators shall issue the award within the three months following the presentation of the reply to the claim or the reply to the counterclaim. Said period of time may not be extended. The initial act must be issued within a time frame of ten days upon acceptance of the arbitrators, a period which may not be extended.

c) The arbitration procedure must be processed with a single arbitrator, unless the arbitration agreement stipulates the election of an Court Arbitral. When the parties have agreed on the appointment of three arbitrators before the arbitration begins, the TACED shall invite the parties to agree on the appointment of a single arbitrator.
In matters not covered in this article, the abbreviated procedure shall be governed by the rules of ordinary procedure.

Article 36.- Arbitration expenses

1. The arbitration expenses shall include the admission fees; the administrative costs of TACED; the arbitrators’ fees and the experts’ fees who, as the case may be, are appointed by the former during the arbitration procedure; all of these are calculated according to what is established in the Financial Annex of these Rules as well as the expenses for renting the premises and equipment for the arbitration, subject to prior justification.

2. The party that files the arbitration must provide proof of payment of the admission fees along with their initial request, in accordance with the amount established in the fees published in the TACED website, the current at the time of request for arbitration which shall be considered the Economic Annex to this Regulation. The amount of these admission fees that must include the record, preliminary study by the TACED of the request for arbitration and the notification thereof to the defendant or defendants, shall not be under any circumstances refundable.

3. The party that requests the arbitration must also set the amount of the dispute in their writ of request for arbitration understanding this to be the calculation of the real financial interest thereof. If the amount of the dispute were undetermined, the sum of 200,000 euros would be taken as a reference for setting the administrative costs, arbitrators’ fees and cost of the arbitration procedure, unless the TACED agrees on a higher or lower figure considering existing circumstances, in particular, the complexity of the dispute submitted to arbitration.
The setting of the amount of the arbitration procedure, including a potential appeal, shall correspond exclusively to the TACED. Once the arbitration has concluded, the TACED shall proceed to the final financial settlement of the case, refunding the surplus or, as the case may be, reclaiming the difference. The TACED may carry out partial settlements in the proportion it deems appropriate, of the administration fees, arbitration fees and experts’ fees, expenses for renting the installations and equipment for the arbitration, on account of the final settlement and as the different stages of the arbitral proceedings advance.

4. In view of the writs of request and response to these, or if the time for doing so has elapsed, the TACED, in accordance with sections 4 and 5 of this article, must set the amount of funds to be paid by the parties for processing the procedure in order to meet the administrative costs of the TACED and arbitrators’ fees, requiring payment thereof, paying the resulting amount within a period of ten days.
When the claimant infers causes of action of different amounts against two or more defendants, they shall take the amount of the dispute of the greater sum. Notwithstanding this, during the processing of the arbitration procedure, the TACED, ex officio or upon the request of the arbitrators may require the parties pay additional funds.
The Court Arbitral shall only continue to hear the arbitration once it has confirmed the TACED has the funds requested.
In the event that the claimant or the counterclaimant does not pay the provision requested as soon as possible and in full, the TACED shall understand this attitude as a withdrawal from the main claim or the counterclaim, as applicable.
No proceedings or presenting of evidence shall take place that have not already been previously paid for or for which payment has not been guaranteed by the parties through the payment of the corresponding amount to cover this.
If, after having requested that the parties pay the set amounts, these amounts are not paid in full by any of the parties, and in the proportion assigned to each within the time frame given,for this to be carried out, the TACED shall once again request that the indebted party pay this sum within a period of five, days. If, after this, the amount is not paid, the TACED must inform the other party or parties within the same time frame, and if they consider it appropriate, they shall pay the amount pending. If none of the parties pay the amount pending, the TACED can, at its discretion, refuse to process the arbitration or the specific proceeding that caused the request for the payment of the pending amounts. In the first case , once the amount corresponding to the administrative costs of the TACED and, as the case may be, the arbitrators’ fees have been deducted, the TACED shall refund each party the sums that they have paid, bringing an end to the arbitration procedure. Unless otherwise agreed by the parties, payment of the amounts set by the TACED must be made in equal proportions, being the responsibility of the TACED to establish the assigning of payments carried out by each party for this concept. When the award is issued, the TACED shall send the final settlement to the parties, making the applicable refunds.

Article 37.- Costs of arbitration

1. The arbitrators must state the arbitration costs in the award. Any court costs should be justified, bearing in mind the criteria indicated in the following paragraph and the possible delays that the parties may have caused in the procedure.
Unless otherwise agreed by the parties, the arbitrators may justify the imposition of costs based on the principle whereby the sentence must proportionally reflect the success or failure of the respective causes of action of the parties, unless, on considering the specific circumstances of the case, the arbitrators deem it inappropriate to apply this general principle.

2. The Court'a Arbitral award shall settle the arbitration costs. Unless otherwise established in a written agreement by the parties, the Court Arbitral shall decide on the proportion that each party is obliged to pay of the total or part of such arbitration costs. If the Arbitration Court were to sentence payment of the full amount or part of the arbitration costs to a party other than the party that paid them to the TACED, the latter party shall have a right of recourse against the sentenced party, claiming payment of the corresponding part.

3. The costs include the admission fees and administration of the TACED the arbitrators’ fees and those of the experts if they have been appointed and have intervened during the arbitration procedure; as well as the reasonable expenses for defence, counsel or representation which the parties may have had to incur, and other expenses deriving from the arbitration procedure, such as renting the installations and equipment for the arbitration, subject to justification thereof.
For the purposes of setting and charging the amount of expenses to be paid for the defence, advising or representation of the parties in the writ of conclusions or in the conclusions hearing, they must provide a list of those incurred by each one of the parties and proof of these, once the procedure ends. The arbitrators shall have the authority to exclude those which they believe to be inadmissible, and to moderate or reduce the amount of those that they consider excessive.

Sole final provision.-This Regulation shall enter into force from the date of its notarisation.

Anexo Económico.-Shall be composed of the current rates at any time, published in the TACED website. The filing of the request for arbitration will be taken as a reference date for the application, , being subject to apply these same rates to all arbitral proceedings, until its completion.
Rates will be in effect until replaced by a new publication on the TACED website.

Barcelona, January 9th 2015.