​Arbitration Cost

Arbitration Cost
 
 
Arbitration expenses are an important element in international commercial arbitration disputes. These costs often include tribunal fees, institution fees, witness fees, lawyer fees, translation fees, and other expenditures. It is vital to remember that various arbitration organizations have different cost systems and charge different rates for their services. As a result, before selecting an arbitration organization for a case, legal counsel should get acquainted with its regulations and fee structures.
 
 
It is worth mentioning that most arbitration organizations follow the idea of segregating institution and arbitrator costs. In other words, arbitrators charge their fees and are not bound by the institution's rates.
 
Reimbursement for Legal Costs
 
Parties in international commercial arbitration disputes may agree to have the losing party pay the winning side's reasonable legal expenses, including but not limited to legal fees, witness fees, translation fees, notarization fees, and investigative fees. Legal representation should instruct their clients to gather and preserve pertinent cost receipts, commission agreements, work records, and other documentation to maximize the possibility of getting legal cost reimbursement.
 
Finally, the costs of international business arbitration may be high and encompass various fees. Legal counsel should consider these expenses when selecting an arbitration institution and be diligent in gathering and keeping evidence to support their clients' demands for legal cost recovery.