Costs in international arbitration

Costs in international arbitration

This Practice Note discusses the types of costs that can be incurred in international arbitration proceedings and considers practical steps that can be taken to assist with the recovery of costs. It covers the costs incurred in the arbitration (legal fees and disbursements and costs of the arbitration, including the tribunal’s fees), allocation and recoverability of costs and the award on costs. It also covers security for costs and links out to further content on this subject.

See Practice Note: Costs in international arbitration.

Fees of the arbitral institutions

This Practice Note sets out the fees incurred in arbitration under key institutional rules including International Chamber of Commerce (ICC), London Court of International Arbitration (LCIA), Singapore international Arbitration Centre (SIAC), Dubai International Arbitration Centre (DIAC), Stockholm Chamber of Commerce (SCC), China International Economic Trade Arbitration Commission (CIETAC), American Arbitration Association (AAA), Hong Kong International Arbitration Centre (HKIAC) and Swiss Arbitration Centre (SAC). This Practice Note also covers links to cost calculators provided by the various institutions to estimate the cost of arbitral proceedings under their Rules.

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Hong Kong—security for costs imposed on plaintiffs in application to set aside arbitral award (Y S v GI GG)

Arbitration analysis: This decision affirms well-established legal principles on the grant of security for costs in the context of an application to set aside an arbitral award under section 81(1) of the Arbitration Ordinance (Cap. 609) (AO). The plaintiffs argue that the award should be set aside as it acknowledges a Set-Off Mechanism, the effect of which the plaintiffs contend conflicts with Hong Kong public policy. The Set-Off Mechanism in this case, in essence, obliged the 1st plaintiff to waive the purchase price for shares in the amount outstanding to the 1st defendant, should the 2nd defendant fail to pay the 1st defendant any amount due under a promissory note. The 1st defendant applied for security of costs to be furnished by the plaintiffs in the set aside proceedings. Mrs Justice Mimmie Chan considered that the set aside application had little prospect of success and held that it would be just to exercise discretion to order the plaintiffs to provide security for costs. The case demonstrates the Hong Kong Courts’ consistently supportive stance towards arbitration and arbitral awards, in that the ordinary principles to security of costs will not be departed from to make easier any challenge to an arbitral award. Written by Paul Starr, partner at King & Wood Mallesons; Felicity Ng, senior associate at King & Wood Mallesons; Sian Knight, professional support lawyer at King & Wood Mallesons.

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