Our LCIA arbitration cost calculator estimates the overall cost of LCIA arbitration automatically, based on the best data that is publicly available. LCIA arbitration costs are primarily based on hourly rates, making the precise determination of LCIA costs more difficult than with respect to other arbitral institutions such as the ICC (see the LCIA’s current Schedule of Arbitration Costs), which are based on the amount in dispute.
Statistics and historical data nevertheless make it possible to estimate the full cost of resolving a dispute via LCIA arbitration. The following online tool predicts total LCIA arbitration costs through the final award, as well as the length of proceedings. Calculations are based on the research and findings listed below.
As approximately 80% of costs of LCIA arbitration are party costs, as opposed to LCIA administrative costs and the fees of the arbitral tribunal, this LCIA arbitration cost calculator also includes the estimated cost of solicitors and experts.
Underlying sources and assumptions for LCIA Cost Calculator
- LCIA administrative costs and Arbitral Tribunal costs based on the the LCIA Schedule of Arbitration Costs effective 30 March 2013
- Each party is assumed to split LCIA administrative expenses and Arbitral Tribunal costs equally, which is not always the case (if a Respondent refuses to do so)
- Estimated hours of work per arbitrator underlying calculations of arbitrator costs are based on Winston & Strawn’s “What Can Be Done About Arbitration Costs?” report of September 2007
- Anticipated expert, witness, management and external costs based on CIArb Costs of International Arbitration Survey (2011)
- For “low complexity” arbitrations, it is assumed that no legal or quantum experts are required
- Legal fees paid to external counsel, which form by far the largest expense in any arbitration, are estimated using a blended rate based on international surveys and reports
- VAT is excluded
- Average duration of arbitration based in CiArb Costs of International Arbitration Survey (2011)
- Hourly rates of the LCIA Court are assumed to be negligible
- The ability of a party to recover some or all of its costs in an award on costs is not factored in
While care has been taken to ensure robust estimates, the true cost of arbitration will inevitably vary. Please contact us should you require a professional estimate of the likely cost of arbitration.