(1) Upon request of a party, the Tribunal may order any party asserting a claim or counterclaim to provide security for costs.
(2) The following procedure shall apply:
a)
the request shall include a statement of the relevant circumstances and the supporting documents;
b)
the Tribunal shall fix time limits for submissions on the request;
c)
if a party requests security for costs before the constitution of the Tribunal, the Secretary-General shall fix time limits for written submissions on the request so that the Tribunal may consider the request promptly upon its constitution; and
d)
the Tribunal shall issue its decision on the request within 30 days after the later of the constitution of the Tribunal or the last submission on the request.
(3) In determining whether to order a party to provide security for costs, the Tribunal shall consider all relevant circumstances, including:
a)
that party’s ability to comply with an adverse decision on costs;
b)
that party’s willingness to comply with an adverse decision on costs;
c)
the effect that providing security for costs may have on that party’s ability to pursue its claim or counterclaim; and
d)
the conduct of the parties.
(4) The Tribunal shall consider all evidence adduced in relation to the circumstances in
(5) The Tribunal shall specify any relevant terms in an order to provide security for costs and fix a time limit for compliance with the order.
(6) If a party fails to comply with an order to provide security for costs, the Tribunal may suspend the proceeding. If the proceeding is suspended for more than 90 days, the Tribunal may, after consulting with the parties, order the discontinuance of the proceeding.
(7) A party shall promptly disclose any material change in the circumstances upon which the Tribunal ordered security for costs.
(8) The Tribunal may at any time modify or revoke its order on security for costs, on its own initiative or upon a party’s request.