LCIA (2020)—costs

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

  • LCIA (2020)—costs
  • Arbitration Costs under the LCIA Rules
  • Registration fee
  • Administrative charges
  • Arbitrators’ fees
  • Advance payments for 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 (2020)—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 London Court of International Arbitration (LCIA) arbitration proceedings pursuant to the LCIA Arbitration Rules 2020 (the LCIA Rules) effective 1 October 2020.

For practical guidance on arbitration pursuant to the LCIA Rules 1998, the previous version, please see the relevant Practice Notes here: LCIA arbitration—overview.

The costs provisions under the LCIA Rules are set out in LCIA, art 24 (Advance Payment for Costs) and LCIA, art 28 (Arbitration Costs and Legal Costs) and the separate LCIA Schedule of Arbitration 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. For discussion, see News Analyses: Counting the costs—LCIA releases costs and duration data and The LCIA fights back: new costs and duration data

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