TITLE VII RULES OF PROCEDURE FOR INTERNATIONAL COMMERCIAL ARBITRATION MODEL CLAUSE

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1 TITLE VII RULES OF PROCEDURE FOR INTERNATIONAL COMMERCIAL ARBITRATION MODEL CLAUSE "Any dispute or difference regarding this contract, or related thereto, shall be settled by arbitration upon an Arbitral Tribunal composed of one or three arbitrators, which shall operate at the Center for conciliation, Arbitration and Friendly Composition in the Chamber of Commerce of Medellin - Antioquia (the "Center"), in accordance with the following rules: A. The Tribunal will be subject to the international commercial arbitration rules of procedure of the Center. B. The Tribunal shall consist of (one or three) arbitrators designated by the parties. In case it is not possible, its designation will be made from the lists of (arbitrators) from the Center and in accordance with the Rules of procedure of international commercial arbitration from such. C. The Tribunal will decide on (indicate whether it shall decide in law or in equity). D. The language of the arbitration shall be (choose). E. The place of the arbitration shall be (choose). F. The law applicable to the substance of the dispute shall be (indicate). " Article 174. Definitions and scope. 1. For the purposes of this Rules of procedure: GENERAL PROVISIONS A. "Center" means the Center for Conciliation, Arbitration, and Friendly Composition of the Chamber of Commerce of Medellin - Antioquia; B. "Rules of procedure" means the present Rules of procedure for International Commercial Arbitration of the Center of Conciliation, Arbitration, and Friendly Composition of the Chamber of Commerce of Medellin - Antioquia; C. "Claimant Party" means that party initiating arbitration, which may be composed of one or more claimants;

2 D. "Respondent Party" means the party against whom arbitration was initiated, which may be composed of one or more respondents; and. "Additional Party" means that party which joins the Arbitration proceedings and occupies the position of either a Claimant Party or a Respondent Party. F. "Parties" means, jointly, the Claimant party and the respondent party, as well as the additional party if applicable; G. "Arbitral Tribunal or Tribunal" means the body or organ that shall resolve the dispute submitted to arbitration; H. "Judicial Authority" means a judge, tribunal, or state Tribunal of any Country; I. Arbitration agreement is an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship. An arbitration agreement may be in the form of an arbitration clause or separate agreement. J. "Award" or Awards means the decisions made in whole or in part by the Arbitral Tribunal, or by Settlement between the Parties, on a substantive issue or any other decision which, according to the applicable law to the Arbitration proceedings, may be adopted by means of an award. K. "Days", unless otherwise stipulated, means calendar days for the purposes of any computation of time. 2. These rules of procedure shall apply when: a. The Parties have agreed in writing to submit a dispute which has arisen or may arise between them in respect of a particular contractual or non-contractual legal relationship to arbitration under these Regulation; and, B. The arbitration referred to in letter a) abovementioned is an international arbitration, under the terms of act 1563 of 2012 or the rules of procedure that may replace such act. 3. Such arbitration shall be conducted in accordance with these Rules of procedure, except as modified by the Parties. 4. The Parties to an arbitration conducted in accordance with these Rules of procedure may be modified by mutual agreement and in writing, except as provided in articles 179, 180, 188, 189, 190, 191, 199 and 217.

3 Article 175. Notifications and Time Limits. 1. All notifications and other written communications submitted by any party, as well as all documents annexed thereto, shall be sent or presented in a number of copies sufficient to provide one copy for as many parties as they may be, plus one for each arbitrator, and one for the Center. 2. All notifications or written communication requested, sent, or presented in accordance with these Rules of procedure, shall be sent to the last available address of the receiving party or its representative, whether it has been sent by the same party or by the counterparty. 3. All notifications or communications may be delivered or sent either personally or by registered mail, facsimile, electronic mail or by any other means of communication that provides a record of the sending thereof. If, after reasonable efforts, delivery cannot be made in accordance with the preceding paragraphs, the notification shall be considered as being received if it has been sent to the last known establishment, to the last known habitual residence or to the last postal address known through Certified mail or by any other means that provides a record of delivery or attempted delivery. 4. All notifications or written communications shall be duly made on the day they have been received by the receiving party or its representative or on the day they should have been received in accordance with the means of communication used. The notification shall be deemed to have been received on the day it has been delivered in accordance with paragraphs 2 and 3. The notification transmitted by electronic means shall be deemed to have been received on the day it was sent, except in the case of notification of the Request for Arbitration, in which case it shall be deemed to have been received only on the day it is received in the electronic mail address of the recipient. 5. For the purposes of calculating a Period of time specified in under these rules of procedure, such period of time shall start on the day following the date a notification or communication is deemed to have been received in accordance with paragraphs 2 and 3. If the last day of the granted period of time is an official holiday or a nonbusiness day in the country where the notification or communication is sent or deemed to have been sent, the period of time shall be extended to the first following business day. Official holidays and non-business days are included in the calculation of the time limits.

4 Article 176. Waiver of the right to object. If a Party continues with the arbitration in the knowledge that any provision of the Arbitration Agreement, these rules of procedure or the law applicable to the arbitration proceedings has not been complied, and does not raise any objections as soon as possible against such noncompliance, it shall be understood as a waiver to their right to object. Article 177. Limitation of liability. Neither the Center nor its administrative staff, nor the members of the Arbitral Tribunal shall be liable to any person or institution for facts, acts or omissions related to the arbitration process of which they know of or in which they participate. Article 178. Request for arbitration. COMMENCEMENT OF ARBITRATION 1. In accordance with Article 175 (1) of these rules of procedure, the Claimant Party shall submit to the Center as many copies as necessary of its request for the commencement of arbitration, which shall be accompanied by the payment of the advance or proof thereof in accordance with the current tariff for the calculation of expenses in international arbitration of the Center. The Center shall inform the parties of the date of reception of the request for the commencement of arbitration submitted by the Claimant Party. An electronic version of the request and its attachments (CD, USB memory or other) must accompany each of the physical copies. 2. The date on which the Center receives the request for arbitration, accompanied by proof of payment of the advance payment required in the preceding paragraph, is, for all legal purposes, the date of the commencement of the arbitration. 3. The request for commencement of arbitration shall contain at least the following information: A. Full name of the parties, address of the parties, their legal representatives, as well as the nature of their representation, and any other relevant contact information such as electronic mails and telephone numbers, among others. B. Full name, address, and other relevant contact information such as electronic mails and telephone numbers, among others, of whom will represent the Claimant Party in the arbitration proceedings;

5 C. A reference to the Arbitration Agreement under which the request is based; In the case of claims based on several arbitration agreements, reference to such agreements and their scope with respect to the respective claims; D. A reference to the contract, legal relationship, or legal instrument from which, or in relation to which, the dispute arose; E. A description of the circumstances giving rise to the dispute, the general nature of the claim of the Claimant and, if possible, the indication of the sum claimed, if any; F. Any indication related to both the number of arbitrators and their selection, as well as the designation of arbitrators, if any, in accordance to what is established in the Arbitration Agreement. If none of the above is applicable, the Claimant will be subject to the selection of arbitrators in accordance with the provisions of Article 184 of these Rules of procedure; and, G. Any comments about the place of the arbitration, the applicable legal rules, and the language of the arbitration. 4. If the Claimant fails to meet any of the above requirements, the Center may set a time limit for the Claimant to comply with such. In the event that the claimant party fails to comply within the time limit indicated along with the missing information, its request will be filed, without prejudice to its right to promote a new request for commencement of arbitration. 5. The Claimant Party may submit with its request for arbitration any document or evidence in support of what is stated therein or that it deems appropriate in the resolution of the dispute submitted to arbitration. 6. Upon compliance with all the requirements set out above in this article, the Center shall notify the Respondent of such request for arbitration, stating the date of receipt of such request for the purposes of paragraph 2 of this article and communicate a physical copy thereof accompanied by its annexes, plus the electronic device containing the same information, for the purposes of the reply. Article 179. Reply to the request for the commencement of arbitration. 1. In accordance with Article 175 (1) of these rules of procedure, the Respondent shall submit to the Center as many copies as necessary of its reply to the request for the commencement of the arbitration within 30 days of receipt of the request for arbitration which has been communicated

6 to it by the Center, referred to in Article 5 above. An electronic version of the reply and its attachments (CD, USB memory or other) must accompany the physical copies. 2. The reply must contain at least the following information: A. Full name, address of the Respondent Party, its legal representatives, the nature of its representation, and other relevant contact information, such as electronic mails and telephone numbers, among others; B. Full name, address, and other relevant contact information such as electronic mails and telephone numbers, among others, of whom will represent the Respondent in the arbitration proceedings; C. Your comments on the nature and circumstances giving rise to the request for the commencement of arbitration, as well as your position on the claims from the Claimant and, as far as possible, regarding the amount claimed, if any; D. The statement that it intends to file counterclaim, making a brief presentation of the facts and basis of its intentions in this respect, as well as an estimate of the amount claimed for this reason. It shall also be accompanied by a reference to the arbitration agreement or arbitration clause on which the request is based. In case of counterclaims based on several arbitration agreements, reference to such agreements and their scope with respect to the respective counterclaims. If, at the time of the response to the request for arbitration, the Respondent does not decide to make any manifestation of a possible counterclaim, no circumstance shall prevent it from presenting a counterclaim subsequently, as indicated in Article 198, paragraph 3. E. Any indication related to both the number of arbitrators, their selection and the designation of an arbitrator proposed by the Claimant Party, pursuant to the provisions of the Arbitration Agreement, as well as its designation of an arbitrator, in the event this was possible according to the Arbitration Agreement. If none of the above is applicable, the Respondent shall be subject to the designation of arbitrators as provided in Article 184 of these rules of procedure; and, F. Any comments about the place of the arbitration, the applicable legal rules, and the language of the arbitration. 3. The Respondent may submit, along with its reply to the request for arbitration any document or evidence in support of what is stated therein or that it considers appropriate in the resolution of the dispute submitted to arbitration. 4. At the request of the Respondent, for justified reasons and within the time limit to reply, the Center may grant a one-time extension, not exceeding 15 days, to present its response to the

7 request for arbitration. This extension shall be granted on the sole condition that in its request, the Respondent designates an arbitrator, in the event that such designation by the Respondent Party is possible. 5. In its request, the Respondent Party shall designate an arbitrator, in the event that such designation by the Respondent Party is possible. 6. In the event that the reply to the request for the commencement of arbitration is not submitted within the time limit indicated in paragraphs 1 and 4 of this article, the Center will proceed to designate the arbitrator or the arbitrators to whom the possible litigation will be brought, in accordance with the provisions of the Arbitration Agreement, these Rules of procedure and ensuring that all Parties, including the Additional Parties, have had the opportunity to participate in the confirmation of the Tribunal as established in Article 181 of these Rules of procedure. 7. The Center shall notify the Complaining Party of the response to the request for arbitration, Communicate a physical copy of it accompanied by its annexes, plus the electronic device containing the same information. PLURALITY OF PARTIES, PLURALITY OF CONTRACTS AND ACCUMULATION OF ARBITRATION PROCEEDINGS Article 180. Multiplicity of Parties and / or Contracts 1. In an arbitration with multiple parties, all parties may file claims against any of the other parties, subject to the provisions of Articles 181 and 182, and at the times established in the Calendar of the Arbitration proceedings and, failing this, as indicated by these rules of procedure or upon authorization by the Tribunal. 2. Claims arising from or relating to more than one contract or legal relationship, thus being based on different arbitration agreements, may be raised in a single arbitration. Article 181. Application for Incorporation of an Additional Part 1. Any party may submit a request for incorporation to the Center (the "Application for Incorporation") of an Additional Party. For all purposes, the date on which the Center receives the

8 Application for Incorporation shall be deemed to be the date of commencement of the arbitration against the Additional Party. Unless otherwise agreed by all Parties, no additional party may be incorporated after the establishment of the Tribunal. 2. In the pertinent case, the provisions of article 178 shall apply to the Application for Incorporation, which shall contain at least the following information: A. The reference of the ongoing Arbitration proceedings; B. Full name, description, address, and other contact information of each party, including the Additional Party; and C. The information contained in Article 178, paragraph 3, subparagraphs d), e) and f). D. Any other information or document tending to justify the inclusion of an Additional Party or to the effective resolution of the dispute. 3. The Additional Party shall submit a Response to the Request for Incorporation in accordance with the provisions of Article 179. The Additional Party may raise claims against any other party in accordance with the provisions of Article 180. Article 182. Accumulation of arbitration proceedings. 1. The interested party shall submit a Request to the Center, for the Accumulation of pending Arbitration proceedings into one. Said application will be resolved by the Arbitral Tribunal that was first constituted among the Arbitration proceedings that are intended to be accumulated and will proceed when: A. All Parties have agreed to the accumulation, and B. All claims in arbitration proceedings have been made under the same Arbitration Agreement and are administered by the Center, or C. In the event that the claims are formulated on the basis of different Arbitration Agreements, these Arbitration proceedings are: between the same parties, administered by the Center, or in the event that such arbitration disputes arise in relation to the same legal relationship and the Tribunal before whom the application of accumulation considers that the arbitration agreements are compatible.

9 2. The Parties may establish by mutual agreement in which arbitration procedure the proceedings shall be accumulated. In the absence of an agreement, the arbitration proceedings shall be accumulated in the arbitration procedure in which the date of commencement was given first in time and, in the event that both proceedings have commenced on the same date, Arbitration proceedings shall be accumulated in the procedure in which the request of arbitration was first notified to the Respondent. COMPOSITION OF THE ARBITRAL TRIBUNAL Article 183. Decisions of the Center and Transparency. 1. Any decision of the Center concerning the appointment, confirmation, challenge or replacement of an arbitrator shall be final and shall not be justified, unless the Parties, by mutual agreement, request the Center to justify its decision. 2. The Center shall maintain in an updated and publicly available manner the list of pending and completed cases, indicating at least the following information: A. If an indication of the identity of the parties to the arbitration procedure cannot be given for reasons of confidentiality, the indication of the subject matter to which the arbitration refers. B. Information on the members of the Arbitral Tribunal: (i) the name of each arbitrator, (ii) the role each one plays (sole arbitrator, co-arbitrator or President) and (iii) the type of designation( by one of the parties, by mutual agreement of the parties, or by the Center itself). C. The date of commencement of the arbitration and of the termination of the arbitration proceedings. D. The reason for termination of the arbitration proceedings. E. In case of delay in the arbitration proceedings, the indication of the circumstances that caused the mentioned delays. Article 184. Number and appointment of arbitrators. 1. The Tribunal shall consist of one or three arbitrators. 2. Unless otherwise agreed by the parties, if the dispute is to be settled by a Tribunal composed of three arbitrators, in the respective request of commencement of arbitration and response to the

10 request for the commencement of arbitration, both the Claimant and the Respondent Party shall designate an arbitrator for the confirmation of such designations by the Center. If one of the parties fails to designate an arbitrator in such written procedures, the Center shall make the designation by drawing lots from their list of international arbitrators within 15 days after receipt of each respective written procedure. Within 15 days following the last arbitrator designation made by the Respondent in its response, or the designation made by the Center, or failing the above, the third arbitrator, who shall in turn act as President of the Tribunal, shall be chosen by mutual agreement between the Two co-arbitrators within 15 days of the designation of the last co-arbitrator. If the term has not been agreed upon by the co-arbitrators or they would not have been able to choose the President for any reason, the Center, by drawing lots of the list of international arbitrators, shall, without any justification, proceed to make the designation. 3. In the absence of agreement between the parties on the number of arbitrators, the dispute shall be settled by an Arbitral Tribunal of a single arbitrator. In this event or when the Parties agree that the tribunal shall consist of a single arbitrator, the Parties may designate it by mutual agreement for its confirmation by the Center. 4. In the event that, within 15 days upon the receipt by the Center of the response to the request for the commencement of the arbitration, or in the absence of its submission, after 15 days from the time the Respondent had to file its Reply, without any extension of time for such effects agreed by the Center, the parties have not designated the arbitrator, the arbitrator shall be designated by the Center. 5. The arbitrators appointed by the Center shall be chosen by lot from the list of international arbitrators of the Center or from the list provided by the parties for such purposes, unless the parties have otherwise agreed in the arbitration agreement. In such lot drawing, an equal number of substitute arbitrators and main arbitrators shall be designated. Article 185. Appointment, confirmation and acceptance of the arbitrators. 1. Regardless of the number of arbitrators (1 or 3), these will be chosen by the method agreed by the parties and, failing that, by the provisions of these Rules of procedure. 2. In the event that the dispute is resolved by a single arbitrator and the arbitrator has the same nationality as one of the parties, this shall not be understood as an indication of bias or dependency. The same shall apply in the case of the President of a three-member Tribunal. 3. The arbitrators or co-arbitrators designated by the parties or appointed by the Center shall accept as soon as possible, and it shall be for the Center to communicate this circumstance to the

11 parties. Any arbitrator, at the time of acceptance, must sign a declaration of independence and impartiality in the terms expressed in article 188 of these Rules of procedure, in order to be confirmed. 4. For all purposes, the date of confirmation of the arbitrator or of the last arbitrator in the case of a collegiate tribunal shall be considered as the date of constitution of the Arbitral Tribunal. The confirmation date is the date on which the Center notifies such confirmation to the Parties in accordance with Article 175, paragraph 2 of these rules of procedure. 5. Once an arbitrator is confirmed, the arbitrator undertakes to conduct the arbitration in full respect of these Rules of Procedure, except in what the Parties have agreed in the terms and with the restrictions contemplated in article 174, paragraphs 2 and 3 of these Rules of procedure. Article 186. Plurality of parties. 1. For the purposes of articles 184 and 185, where the tribunal is composed of three arbitrators and the Claimant party or the respondent party is composed of several persons, unless the parties have agreed to use another method for the designation of the arbitrators, the persons making up the Claimant party or the respondent party shall act jointly as Claimants or Respondents for the appointment of their respective arbitrator. 2. In the event that the Tribunal is composed of three arbitrators and an additional Party has been incorporated, such additional party may designate, jointly with the Claimant party or the Respondent party which has requested such incorporation, or against the party that has requested such incorporation, the arbitrator to be designated by that party. 3. In the event that it is not possible to constitute the Arbitral Tribunal as agreed by the parties, the Center, at the request of any of them, shall proceed to constitute the Tribunal in accordance with Article 184 of these Rules of procedure. Article 187. Independence and impartiality. 1. Every arbitrator must be and remain at all times, independent and impartial of the parties. 2. As a requirement to accept its designation, the arbitrator candidate must sign and send to the Center a written statement in which it communicates that it has no knowledge of any circumstance that may give rise to justified doubts about its independence and impartiality. The

12 arbitrator shall promptly disclose to the parties and to the Center any circumstance arising subsequently that may affect their independence and impartiality. 3. Notwithstanding the provisions of paragraphs 4 and 5 below of this article, no party may enter into communication with an arbitrator or an arbitrator candidate in relation to the case, unless the opposing party or parties are present. 4. A party or its representative may contact a candidate to be appointed as arbitrator by one of the parties, for the following purposes: A. Inform the candidate of the general nature of the dispute and of the arbitration procedure; and/or, B. Consult the candidate on their characteristics, availability, independence from the parties and impartiality in relation to the dispute. 5. Unless otherwise agreed by the parties, any of them or their representatives may contact a candidate to be appointed arbitrator proposed by the other party, to be inform and consult about the characteristics and suitability of the candidates to assume the presidency of the Tribunal arbitral. Article 188. Challenge. 1. An arbitrator may be challenged only if: A. There are circumstances that justifiably call into question its independence or impartiality; or, B. The Arbitrator lacks the characteristics agreed by the parties. 2. A party may only challenge the arbitrator in whose designation it has participated, for reasons of which such party became aware after the appointment. Article 189. Challenge procedure. 1. The party attempting to challenge an arbitrator shall, within 15 days following the date on which such party became aware of the confirmation or of the circumstances referred to in article 188, send a written communication to the Center stating the reasons which give rise to the challenge.

13 2. Upon receipt of the request for challenge, the Center shall notify the opposing party or parties and the members of the Arbitral Tribunal. 3. If the opposing party or parties state their consent to the objection made by a party, the challenged arbitrator shall cease to hold office on the basis of such joint agreement. Likewise, the challenged arbitrator may resign voluntarily. The resignation of the arbitrator to execute his position, does not imply acceptance of the reasons for the challenge. 4. Unless the challenged arbitrator resigns to the position or the other party accepts the challenge, it shall be for the Center to decide on the matter, by means of a decision that shall not be justified, unless the parties request by mutual agreement such motivation in terms of article 183 paragraph 1. Article 190. Termination of the duties of the arbitrator. 1. The Arbitrator shall terminate his duties and shall be replaced if: A. The Arbitrator dies; B. The Arbitrator acquires de jure or de facto an inability to perform his duties as an arbitrator or for any other reason does not exercise them within a reasonable time. If there is no agreement between the parties with respect to these facts, either party may request the Center to declare the arbitrator's cessation in the exercise of his office, after hearing the latter; C. The request for a challenge proceeds in accordance with Article 189 of these rules of procedure; D. The Arbitrator resigns for any reason; or, E. The parties, by mutual agreement, terminate their duties in writing. 2. In an Arbitral Tribunal composed of three arbitrators, if an arbitrator refuses to participate in the arbitration, even though no formal termination of his duties has been ordered, the other members of the Arbitral Tribunal shall inform the Center of such circumstance so that the arbitrator, as soon as possible, the Center proceeds to verify the intentions of the arbitrator to continue in the arbitration process. If the Arbitrator informs the Center of its intention to continue with the arbitration shall, without delay, give continuity to the exercise of its functions and all that was previously proceeded by the Tribunal shall be fully valid. If the arbitrator informs the Center of its intention not to continue with the arbitration, the Center shall terminate its functions and proceed to its replacement in accordance with Article 191 of these Rules of procedure. All

14 proceedings and decisions taken by the Tribunal until the replacement of the third arbitrator shall be fully valid. Article 191. Substitution of an arbitrator. 1. In the event that it is necessary to replace an arbitrator in the course of a proceeding, a substitute arbitrator shall be appointed or designated in accordance with the procedure applicable in Articles 184 to 187, in regards of the appointment or designation of the arbitrator to be replaced. This procedure shall be applicable even if one of the parties has not exercised its right to appoint an arbitrator or has participated in the designation of the arbitrator to be replaced. 2. The changes in the composition of the Arbitral Tribunal do not invalidate, for that sole fact, the resolutions issued by the Arbitral Tribunal prior to the substitution of an arbitrator. Article 192. Exception of lack of competence. COMPETENCE OF THE ARBITRAL TRIBUNAL 1. The Arbitral Tribunal is competent to decide on its own jurisdiction, including any objections with respect to the existence or validity of the arbitration agreement. For these purposes: A. An Arbitration Agreement which forms part of a contract shall be deemed to be an agreement independent of the other provisions of the contract; and, B. The decision of the Arbitral Tribunal that the contract is null or invalid does not ipso jure entail the nullity or invalidity of the arbitration clause. 2. The plea that the Arbitral Tribunal has no jurisdiction must be challenged no later than at the time of filing the statement of reply of the claim or, with respect to a counterclaim, in the statement of reply to that counterclaim. However, the parties shall not be prevented from raising this plea by the fact that they have designated an arbitrator or participated in their designation. 3. The plea based on the fact that the Arbitral Tribunal has exceeded the scope of its authority, shall be raised as soon as the matter alleged to be beyond the scope of its authority arises during the arbitration proceedings. 4. The Arbitral Tribunal may, in any of the cases mentioned in paragraphs 2 or 3 of this article, admit the processing of a later plea, if it considers such delay to be justified.

15 5. The Arbitral Tribunal may resolve the pleas referred to in paragraphs 2 and 3 of this article as a preliminary matter, by means of a partial award, or in the final award. Article 193. Precautionary and Interim measures. (1) Unless otherwise agreed by the parties, the Arbitral Tribunal may, at the request of a party, grant interim and precautionary measures it considers appropriate with regard of the object of the proceedings. An interim or precautionary measure is understood as any temporary measure that, at any time prior to the issuance of the award by which the dispute is finally decided, the Arbitral Tribunal orders a party to, for example: (a) Maintain or restore the status quo pending determination of the dispute; (b) Take action that would prevent (i) current or imminent harm or (ii) prejudice to the arbitration procedure itself, or refrain from carrying out certain acts that are likely to cause such damage or impairment to the arbitration procedure; (c) Provide a means of preserving assets out of which a subsequent award may be satisfied; or (d) Preserves evidence that may be relevant and pertinent to the resolution of the dispute. 2. The party requesting an interim or precautionary measure under subparagraphs a) to c) on paragraph 1 of this article shall justify the Arbitral Tribunal that: (a) In the event that such plea is not granted it is likely that damages may occur, not properly repairable, that substantially outweighs the harm that is likely to result to the party against whom the measure is directed if the measure is granted; and (b) There is a reasonable possibility that its claim on the merits of the claim may succeed. The determination from the Arbitral Tribunal on this possibility shall not affect in any way the discretion of the Arbitral Tribunal in making any subsequent determination. 3. With regard to all requests for an interim or precautionary measure under subparagraph d) on paragraph 1 of this article, the requirements declared in subparagraphs a) and b) on paragraph 2 of this article shall apply only to the extent the Arbitral Tribunal considers appropriate. 4. Such measures may be stipulated in a provisional award. 5. The Arbitral Tribunal may require the applicant for a precautionary measure to provide an adequate guarantee in respect of the measure.

16 6. The Arbitral Tribunal may require any party to promptly disclose any material change that may occur in the circumstances that caused the interim or precautionary measure to be raised or granted. 7. The applicant for a precautionary measure shall be liable for costs and for damages that such measure causes to any party, provided that the Arbitral Tribunal subsequently determines that, in the light of the circumstances of the case, the measure should not have been Granted or ought to have been revoked by virtue of an act that had to be informed by the party requesting the measure. The Arbitral Tribunal may at any time condemn of the proceedings to the payment of costs and damages. 8. The parties may request the adoption of interim or precautionary measures before a competent judicial authority. A request by a party to a judicial authority for the purpose of obtaining such measures or the enforcement of similar measures ordered by an Arbitral Tribunal shall not contravene the arbitration agreement and shall not be construed as a waiver of such agreement and shall not affect the powers of the Arbitral Tribunal in this regard. Any request or order regarding this matter must be communicated by the requesting party to the Arbitral Tribunal as soon as possible. 9. The party who has obtained a precautionary measure or an interim order is obliged to inform the Tribunal promptly of any new fact or circumstance involving or reasonably may imply a modification of the grounds under which the precautionary measure or interim order was granted. 10. The Arbitral Tribunal may modify, suspend, or revoke any precautionary or interim measures it has granted, either at the request of one of the parties or, in exceptional circumstances, on its own initiative, after giving notice to the parties. 11. Unless otherwise agreed by the Parties, the Tribunal may also issue preliminary orders in accordance with the provisions of the Colombian international arbitration law or in accordance with the law to which the parties have subjected the process of arbitration. SUBSTANTIATION OF ARBITRATION ACTIONS Article 194. Representation. 1. The parties may be represented or advised during the arbitration proceedings by persons of their choice, without restriction of nationality or professional title.

17 Article 195. Place of the arbitration and place of the hearings. 1. The parties shall choose the place of the arbitration Failing such agreement, the Arbitral Tribunal shall determine the place of the arbitration, taking into account the convenience of the parties, the circumstances of the arbitration and any other that it considers pertinent. 2. Without prejudice to the provisions of the preceding paragraph, the Arbitral Tribunal may, unless otherwise agreed by the parties, meet, hold hearings, deliberate, and / or carry out inspections of goods or documents at the place or places deemed appropriate. If the place chosen by the Arbitral Tribunal in these terms turns out to be different from the place of the arbitration, it will be considered for all purposes that the arbitration procedure was conducted and any award was made at the place of the arbitration. Article 196. Language. 1. Unless otherwise agreed by the parties, before the Arbitral Tribunal is constituted, they shall use the language or languages of the arbitration agreement or the contract with which it relates for all communications related to the arbitration. 2. In the absence of agreement between the parties, the Arbitral Tribunal shall, without delay after its constitution, determine the language or languages to be used in the Arbitration proceedings, taking into consideration the written submissions of the parties and the language or languages of the arbitration agreement, the contract or legal relationship with which the arbitration agreement relates. Such determination shall apply to the writ of claim, to the reply from the Respondent and to any other written submission and, if hearings are held, to the language to be used in such hearings. 3. The Arbitral Tribunal may order that any documentary evidence be accompanied by a translation into the language or languages agreed by the parties or determined by the Arbitral Tribunal. Article 197. Conduct of arbitration proceedings. 1. The parties shall be treated equally and the Arbitral Tribunal shall ensure that each party has full opportunity to assert its rights and present its case.

18 2. The Arbitral Tribunal may at its discretion, subject to these rules of procedure, direct the proceedings in such manner as it deems appropriate, in order to avoid unnecessary delays and expenses, and to ensure efficient and fair means for a definitive resolution of the dispute. 3. The power of the Arbitral Tribunal conferred in paragraph 2 above includes determining the admissibility, relevance, and value of evidence, discarding irrelevant and repetitive evidence, and inciting parties to focus their evidence and arguments on matters that Support the partial or total resolution of the dispute. 4. The Tribunal and the parties may use the electronic means to conduct hearings and take evidence, through systems such as video conference, telephone, or similar means of communication. Likewise, they may establish the sending of communications and documents by electronic mail to the electronic mail addresses provided by the parties and by the Arbitral Tribunal. 5. The parties accept that at all times they must act in good faith and in favor of a fair, efficient and expeditious conduct of the Arbitration proceedings. 6. The Arbitral Tribunal may hold preliminary meetings with the parties to: A. Agree and set a Calendar of proceedings to which the arbitration will be subject and will allow to establish the time and place for the development of the proceedings and the different actions within such, both for the Tribunal and the parties; This Calendar of procedure must be set out before starting with the presentation of the first statement of Claim as indicated in article 198 paragraph 1; B. Set out any period referred to in these rules of procedure; Y, C. Determine any aspects established or permitted in these rules of procedure in order to ensure an efficient functioning of the Arbitration proceedings. 7. The Arbitral Tribunal has the power to determine, regulate and decide all matters concerning the possible intervention of third parties in the arbitration process. Article 198. Statements of claim, reply and counterclaim. 1. Within the time limit set by the Arbitral Tribunal in the Calendar of proceedings, the Claimant must file a statement of claim containing his full name, domicile and a description of its involvement, the name and address of his representatives or advisers, a clear statement of the facts that constitute the antecedents of its Claim and the points in litigation and pretensions of the

19 Claimant, indicating the amounts or obligations Claimed. The Claimant party must send a copy of his statement of claim, as well as the copies indicated in article 175, paragraph 1 of these rules of procedure, to the Respondent, to the Center and to each of the arbitrators. 2. Within the time limit set by the Arbitral Tribunal in the Calendar of proceedings, the Respondent must file a statement of reply containing his full name, domicile and a description of its involvement, the name and address of his representatives or advisers, the exceptions opposing the Claim and a clear statement of the facts and reasons on which it relies, as well as its comments on the claims of the Claimant. The Respondent shall send a copy of its reply, as well as the copies indicated in article 175 paragraph 1 of these Rules of procedure, to the Claimant, to the Center and to each of the arbitrators. 3. In its statement of reply, or later if so provided in the Calendar of proceedings or if the Arbitral Tribunal so authorizes, the defendant may counterclaim the Claimant on one or more aspects related to the same contract or claim. The statement of counterclaim must contain the full name and address of the parties, the facts on which the counterclaim is based, the points of litigation and claims of the counterclaiming party. The counterclaiming party must send a copy of its counterclaim, as well as the copies indicated in article 175, paragraph 1 of these rules of procedure, to the counterclaimed party, the Center and each of the arbitrators. The counterclaimed party must comply with the provisions of paragraph 2, abovementioned. 4. The parties must attach to their statements all documents that they consider relevant or refer to the documents or evidence that they will submit later. 5. The parties shall attach to their statements of Claim and counterclaim a copy of the arbitration agreement or the contract or document that serves as the basis for their actions. In the case of claims based on several arbitration agreements, reference to such agreements and their scope with regard to the respective claims. 6. In the event that the parties have filed both the claim and the reply to the claim, as well as the counterclaim and the reply to it, the Arbitral Tribunal may immediately resolve the successive proceedings, or go directly to the evidence period Article 199. Additional writings. 1. The Arbitral Tribunal may request or authorize the parties to submit additional writings, by setting the time limits for the exchange of such.

20 2. When it deems it appropriate, the Arbitral Tribunal may extend the term established in the terms of paragraph 1 above. Article 200. Evidence. 1. Except as otherwise provided by the Tribunal or by agreement of the parties, each party shall bear the burden of proving the facts on which it bases its Claims or defenses. 2. The Arbitral Tribunal may request the parties to provide access to additional documents, annexes and evidence and may set out the date or time limit for providing access y of these documents. 3. Any writing, document, request, or information provided to the Arbitral Tribunal by one of the parties, shall be sent to the opposing party. Likewise, any expert opinion or documentary evidence that the Arbitral Tribunal takes into account for its decision must be known to all parties. Article 201. Hearings. 1. Unless otherwise agreed by the parties, the Arbitral Tribunal shall decide whether hearings are to be held for the presentation of evidence or for the making of oral arguments, or whether the proceedings shall be substantiated on the basis of documents or other evidence. 2. The parties shall be notified with reasonable notice: A. Any meeting of the Arbitral Tribunal to examine goods and other property or documents; and, B. Any hearing of the Arbitral Tribunal. 3. In the case of presenting testimonial and / or expert evidence, the parties must communicate to the Arbitral Tribunal and the opposing party, within the period set out by the Arbitral Tribunal, the following: A. The names, surnames, profession or trade and domicile of witnesses and / or experts who they want to present or question; and, B. The matter on which and the language in which witnesses and / or experts will give their testimony, relevant statements or will be questioned.

21 4. The Center shall make the necessary arrangements for the translation of the oral statements made at the hearings, as well as for the recording and transcription of such hearings, all of which shall be covered by the parties: A. In the event that the Arbitral Tribunal considers it necessary according to the circumstances of the case; or, B. If the parties agreed to it and requested such to the Arbitral Tribunal with reasonable notice prior to the hearing. 5. Any oral hearing and meeting of the Arbitral Tribunal shall be private, unless otherwise agreed by the parties in writing. Article 202. Witnesses. 1. The Arbitral Tribunal shall determine the date and time, means and manner in which a witness shall render its testimony; furthermore, may request that a witness be absent from the hearing when another witness renders its testimony. 2. Unless otherwise provided by the Arbitral Tribunal, the testimony of a witness shall be in the form of a written and signed statement. 3. A party may request that the witness presented by the opposing party attend the hearing for the purpose of interrogation. If the Arbitral Tribunal so decides, and the witness does not attend without justifiable cause, the Arbitral Tribunal, if it deems it appropriate, may consider the written testimony of such witness or completely dismiss it, depending on the circumstances of the case. Article 203. Default of a party. 1. Where, without invoking justified cause, the Claimant does not present a statement of claim in accordance with Article 198 paragraph (1) of these rules of procedure, or within the period set out for that purpose in the Calendar of proceedings or by the Arbitral Tribunal, The Tribunal may terminate the proceedings in relation to that claim. 2. The decision of the Arbitral Tribunal to terminate the arbitration proceedings in the terms of paragraph 1 abovementioned, does not affect the origin of the counterclaim filed in the same procedure.

22 3. When, without invoking justified cause, the defendant does not present its statement of reply in accordance with Article 198, paragraph 2, of these rules of procedure, or within the period established for such purposes in the Calendar of proceedings or by the Arbitral Tribunal, the Tribunal may continue with the proceedings, without that omission being considered by itself as an acceptance of the allegations made by the Claimant. 4. When, without invoking justified cause, one of the parties does not appear at a hearing or does not present documentary evidence, the Tribunal may continue with the proceedings and make the award based on the evidence available to it. Article 204. Experts and procedure for objecting. 1. Each party is free to submit the expert opinions it considers necessary with their statements of claim, reply, counterclaim, reply to counterclaim or others that the Tribunal has authorized or that the Parties have agreed to submit in accordance with the Calendar of proceedings. Expert opinions submitted by one party may be contradicted by the other party with other expert opinions. The experts thus presented may be interrogated in a hearing as provided in paragraph 6 of this article. 2. After consultation with the parties, the Arbitral Tribunal may appoint one or more independent experts to inform it in writing of the specific matters to be determined by the tribunal. A copy of the mandate given to the expert by the Arbitral Tribunal shall be communicated to the parties. 3. In principle, and before accepting its designation, the expert shall submit to the Arbitral Tribunal and to the parties a description of its qualifications and a statement of impartiality and independence. The parties shall inform the Arbitral Tribunal of any objections they may have regarding the qualifications, impartiality, or independence of the expert, within the period set out by the Arbitral Tribunal. The Arbitral Tribunal shall decide without delay whether it accepts these objections. Following the appointment of an expert, a party may object to the qualifications, impartiality, or independence of the expert only where that party bases his objections on facts which he has realized after the designation of the expert. The Arbitral Tribunal shall decide without delay what measures may be taken. 4. The parties shall provide the expert with all relevant information or submit for inspection all documents or all relevant goods that the latter may request. Any difference between a party and the expert regarding the pertinence of the information or presentation required will be referred to the decision of the Arbitral Tribunal. 5. After the statement of the expert has been received, the Arbitral Tribunal shall send a copy thereof to the parties, who shall be given an opportunity to express their opinion on the

23 statement or to present other evidence in order to challenge it. The parties shall have the right to examine any document which the expert has invoked in his statement. 6. After delivery of the statement of the expert and upon request of either party, the expert may be heard at a hearing in which the parties shall have the opportunity to be present and interrogate the expert. At this hearing, either party may submit experts to make a statement on the points at issue. The provisions of Articles 201 and 202 shall apply to such procedure. MAKING OF AWARD AND TERMINATION OF PROCEEDINGS Article 205. Applicable law 1) The Arbitral Tribunal shall decide the dispute in accordance with such rules of law as are chosen by the parties as applicable to the substance of the dispute. 2) It is understood that any designation of the law or legal system of a given State shall be construed, unless otherwise expressed, as directly referring to the substantive law of that State and not to its rules on conflict of laws. 3) Failing any designation by the parties as provided in paragraph 1 abovementioned, the Arbitral Tribunal shall apply the rules of law it considers appropriate according to the circumstances of the dispute. 4) The Arbitral Tribunal shall decide ex aequo et bono or as amiable compositeur only if the parties have expressly authorized it to do so. 5) In all cases, the arbitral tribunal shall take into account the terms of the contract and the usages of the trade applicable. Article 206. Closure of hearings. 1. Once the stages provided in the calendar of the proceedings prior to making the award have been exhausted, as provided in article 197 paragraph 6 a), the Arbitral Tribunal may declare the closure of the investigation.