Part VI The Award, Ch.27 The Costs of Arbitration
David D Caron, Lee M Caplan
- Settlement of disputes — Costs and expenses — Arbitral tribunals — Arbitrators
International arbitration may be quite costly because, unlike litigation, the parties pay not only for the costs of presenting their case, but also for the costs of the arbitral tribunal, including the arbitrators’ remuneration and expenses and any administrative fees. 1 Further, the parties must typically pay upfront for the costs of the arbitral tribunal through advance monetary deposits. Unlike litigation in some countries, the prevailing party may be reimbursed for its costs at the end of arbitration through an award by the arbitral tribunal. The UNCITRAL...