Arbitration costs compared: the sequel - .PDF file.
By Louis Flannery and Benjamin Garel
In an article in GAR published two years ago, Stephenson Harwood compared the costs of arbitrating at eight of the most popular commercial arbitration institutions: the ICC International Court of Arbitration; the Arbitration Institute of the Stockholm Chamber of Commerce; the Singapore International Arbitration Centre; the Dubai International Arbitration Centre; the Swiss Chambers of Commerce; the Cairo Regional Centre for International Commercial Arbitration; the Hong Kong International Arbitration Centre; and the International Commercial Arbitration Court of the Chamber of Commerce and Industry of the Russian Federation.
The rationale underlying this second edition of the survey remains the same. While limiting legal costs is usually one of the first concerns of anyone involved in a legal dispute, little consideration is given to the costs of arbitration when an arbitration clause is drawn up and the administering institution selected. This may, in part, be because arbitration clauses are discussed at the very last stages of contract negotiations, earning them the well-known nickname ‘midnight clauses’.
An overview of how the survey was conducted and its results are featured in this briefing. In addition, full and detailed results, organised per institution, and comparative tables, are available in the form of an Excel spreadsheet accompanying this article…
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