LCIA (2014)—costs

The following Arbitration practice note provides comprehensive and up to date legal information covering:

  • LCIA (2014)—costs
  • Arbitration costs in the LCIA Rules
  • Registration Fee
  • Administrative charges
  • Arbitrators’ fees
  • Deposits on account of costs
  • Failure to pay
  • Tribunal's powers and treatment of costs in awards
  • Arbitration Costs—Schedule of Costs
  • Pre-award agreement on costs
  • More...

LCIA (2014)—costs

CORONAVIRUS (COVID-19): Many arbitral organisations have responded to the coronavirus pandemic with practical guidance and/or changes to their usual procedures and ways of working. For information on how this content and relevant arbitration proceedings may be impacted, see Practice Note: Arbitral organisations and coronavirus (COVID-19)—practical impact. For additional information, see: Coronavirus (COVID-19) and arbitration—overview.

This Practice Note concerns arbitration proceedings pursuant to the London Court of International Arbitration (LCIA) Arbitration Rules 2014, effective 1 October 2014 (the LCIA Rules). For practical guidance on arbitration pursuant to the LCIA Rules 2020 (in force 1 October 2020) and the LCIA Rules 1998, consult the relevant Practice Notes here: LCIA arbitration—overview.

The costs provisions under the LCIA Rules are set out in LCIA, art 24 (Deposits) and LCIA, art 28 (Arbitration Costs and Legal Costs) and the separate LCIA Arbitration Schedule of Costs.

The LCIA's administrative charges and the fees of the tribunal are calculated by reference to hourly rates because it is the LCIA's view that the costs should be based on time actually spent by the secretariat and arbitrators, not on the value of the claim and counterclaim. It has published data on the costs of LCIA arbitrations, which indicate that its hourly rate system is competitive. See News Analyses: Counting the costs—LCIA releases costs and duration data and The LCIA fights back: new costs and

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