International arbitration can be an efficient and neutral means of resolving cross-border disputes, but its costs are a constant concern for parties. Even when the amount in dispute is high, parties understandably wish to avoid unnecessary expenses and to have a clear picture, from the outset, of what an arbitration is likely to cost. While […]
Unpaid Invoices and International Arbitration: Is It Worth It?
In today’s global marketplace, unpaid invoices are a persistent headache for businesses trading across borders. When a foreign customer fails to pay, as often occurs in practice, the risks multiply: unfamiliar legal systems, language barriers, and the challenge of enforcing judgments abroad. International arbitration has emerged as a preferred solution for resolving these disputes, offering […]
What Are the Recoverable Costs in ICC Arbitration?
Costs are among the most important considerations for parties in international arbitration proceedings.[1] Therefore, it is crucial for them to know in advance the categories of recoverable costs at the end of the arbitral process. These costs can generally be recovered from the losing party. In this respect, Article 38 of the Arbitration Rules of […]
Who Pays the Costs of International Arbitration?
One question frequently and legitimately asked by parties is who pays the costs of international arbitration. Most procedural arbitration laws and rules provide wide discretion to arbitral tribunals to allocate costs. There are, generally, two overriding internationally accepted principles for allocating costs, i.e., the English “costs should follow the event” rule, which requires the losing […]
Dubai International Arbitration Centre (DIAC) Arbitration
The Dubai International Arbitration Centre (DIAC) is one of the largest arbitration institutions in the Middle East. It was originally established in 1994 by the Dubai Chamber of Commerce and Industry as the Centre for Commercial Conciliation and Arbitration.[1] The same year, the 1994 DIAC Conciliation & Arbitration Rules were released. They were subsequently revised […]