This automatic ICDR arbitration cost calculator determines ICDR administrative fees using the International Centre for Dispute Resolution‘s International Arbitration Fee Schedule. It also automatically estimates all other costs of an ICDR arbitration, including arbitrator fees, legal fees, expert fees and anticipated witness, management and other party costs, from the filing of a Request for Arbitration through the rendering of a Final Award.
This is useful, as the majority of ICDR arbitration costs do not relate to administrative fees, but instead to party costs, including especially legal fees and expert fees. The assumptions used in this ICDR arbitration cost calculator are listed below.
This calculator merely provides an estimate. Individuals or entities desiring a firm cost estimate may contact the arbitration boutique law firm Aceris Law LLC.
** The following underlying assumptions are used in this ICDR arbitration cost calculator:
- ICDR administrative fees are based on the International Centre for Dispute Resolution‘s International Arbitration Fee Schedule.
- The standard fee schedule, rather than the flexible fee schedule, has been used to calculate the estimated total cost, as it is more common and results in lower overall ICDR administrative fees.
- Average legal fees range from USD 50 per hour (very low) to USD 800 per hour (high). Most law firms will charge far more than USD 50 per hour.
- Each party is assumed to split ICDR administrative expenses and arbitrator fees equally. If a Respondent refuses to pay, its counterclaims will not be heard but the Claimant will need to bear the Respondent’s costs (which can then be claimed as costs at the end of the arbitration).
- The estimated duration of work per arbitrator uses the assumptions of the “What Can Be Done About Arbitration Costs?” report of September 2007. Actual arbitrator work will vary considerably.
- The average ICDR arbitration requires between 1,000 and 5,000 hours of legal work, depending on its complexity, the procedure adopted and the actions of opposing counsel. In case of doubt, enter 2,000 hours for the average amount of legal work per arbitration, which is fairly standard.
- In low-complexity cases (fewer than 2,000 hours of legal work required) and where there are small amounts in dispute (less than USD 2,000,000), it is assumed that no quantum or legal experts will be required. This may not always be the case.
- Expert fees themselves are estimated on the basis of the external legal fee to expert fee ratio shown in the CIArb Costs of International Arbitration Survey (2011), which remains the most complete source of data on international arbitration costs to date.
- Anticipated witness, management and other external costs are also based on the ratio between legal fees and such costs in the CIArb Costs of International Arbitration Survey (2011).
- Tax is assumed to be inapplicable, which may not be the case.
- A successful party may be reimbursed all or a significant portion of its legal costs by the losing party in the final arbitration award. This possibility is not factored into this model.