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ARTICLE · 11 OCTOBER 2017

LCIA Releases Latest Arbitration Costs And Duration Figures

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The London Court of International Arbitration (LCIA) has released a report on the costs and duration of arbitrations conducted under its rules since 2013.

United KingdomLitigation, Mediation & Arbitration
Tom Price
Tom Price
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The London Court of International Arbitration (LCIA) has released a report on the costs and duration of arbitrations conducted under its rules since 2013. We look at some of the headline points and trends.

Background

In recent years, there has been much talk of the cost and duration of arbitral proceedings, with parties keen to keep both under control and to understand how long proceedings are likely to take and how much they are likely to cost. It is not just the fees of the lawyers involved; parties have also found it difficult accurately to compare the fees of the institutions and the cost of the arbitrators appointed under the institutions' rules since some (e.g. ICC) have a fee scale based on the sum in dispute, and others (e.g. LCIA) allow arbitrators to charge hourly rates.

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