X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

At the beginning of October, the London Court of International Arbitration (LCIA) released an updated version of its costs and duration report. This report builds on the original one published in 2015, which marked the first attempt by an institution to provide information on institutional cost calculations. For this updated report, the LCIA recruited the help of The Brattle Group to analyze the information gathered. The report states that its purpose is to provide more transparency to the issue of costs and duration in arbitration—a timely and appropriate goal in view of the increasing scrutiny arbitration has been under in the last few years, both in terms of escalating costs associated with arbitration and transparency (or lack thereof).

The new LCIA report compares costs of cases administered by the LCIA between Jan. 1, 2013 and Dec. 31, 2016 with an estimate of the costs for those same cases had they been administered by competing institutions that use ad valorem cost calculation methods. The LCIA developed its cost estimates by utilizing the costs calculation schedules and mechanisms made available by the other institutions. The report concludes that LCIA has the lowest costs as compared to the International Chamber of Commerce (ICC), the Hong Kong International Arbitration Centre (HKIAC), the Stockholm Chamber of Commerce (SCC), and the Singapore International Arbitration Centre (SIAC). While the LCIA cases analyzed had a median cost of US$ 97,000, including both tribunal fees (US$ 69,000) and administrative charges (US$ 17,000), the rest of the institutions ranked in the following order, from lower to higher, given the estimated median costs (and tribunal fees/administrative charges breakdown as noted in parenthesis):

(1) SCC: US$ 133,000 (97,000 / 26,000);

(2) SIAC: US$ 169,000 (146,000 / 23,000);

(3) HKIAC: US$ 199,000 (177,000 / 22,000); and

(4) ICC: US$ 199,000 (146,000 / 53,000).

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.