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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).

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