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what is hopefully a move towards greater transparency across all institutions, the LCIA has recently revealed two sources of data about its costs and about how its tribunals reach decisions on costs.
The London Court of International Arbitration (LCIA) itself recently released data on the costs and duration of arbitrations. Its
comparisons to costs under other institutions has the potential to have ruffled a few feathers (as a general pattern the LCIA data shows that costs in International Chamber of Commerce (ICC) and Singapore International Arbitration Centre (SIAC) arbitration
would be more expensive but arbitration under Hong Kong International Arbitration Centre (HKIAC) would be slightly less expensive).
In respect of costs the data showed that:
Clearly this only covers the LCIA's arbitration costs, not the parties’ other costs.
The LCIA has also provided data to the ICC Commission which reported on Decisions on Costs in International Arbitration.
In its submissions to the ICC, the LCIA examined 46 awards from 2012 from which:
The LCIA also examined 46 awards from 2013, which showed that:
the respondent prevailed in 11 cases, in 10 of these, the claimant was ordered to pay all of the costs of the arbitration and some or all of the respondent's legal costs
in only two cases, each party was ordered to pay its own legal costs. In one case, this was ordered following an agreement between the parties
the costs of the arbitration were split equally in six cases and in proportion to success in six cases
Using a very unscientific analysis, these figures would tend to show that parties to LCIA arbitration will pay less in administration fees than at other comparable institutions and, on the whole, over 70% of successful parties (which a claiming party
will generally be in some or all respects) will recover some or all of their costs.
Without comparable data from other institutions we cannot draw any concrete comparisons from this data, but, one could suggest that the release of this information has done the LCIA no harm in terms of being a claiming party’s institution of choice.
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