Unlike the official SIAC arbitration cost calculator, an authoritative tool to determine administrative fees and arbitrator fees for SIAC arbitrations, this full SIAC arbitration cost calculator determines the same administrative and arbitrator fees for SIAC arbitrations, using the schedule of fees in force as of 1 January 2021, while also automatically estimating all other costs of a SIAC arbitration, including 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 SIAC arbitration costs do not relate to administrative and arbitrator fees, but instead to party costs, including especially legal fees and expert fees. The assumptions used in this SIAC arbitration cost calculator are listed below.
** The following underlying assumptions are used in this automatic cost calculator:
- SIAC administrative fees and arbitrator fees are based on the SIAC Schedule of Fees effective as of 1 January 2021. Results should be identical to the official SIAC Cost Calculator.
- Average legal fees range from SGD 100 per hour (very low) to SGD 700 per hour (high). Legal fees are the primary cost of international arbitration.
- The average SIAC 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 SGD 2,000,000), it is assumed that no quantum or other 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 is the single most complete source of data on 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).
- Taxes are assumed to be inapplicable.
- Each party is assumed to split SIAC Administrative Fees, Arbitrators’ Fees and expenses equally, although if a Respondent refuses to pay its counterclaims will not be heard but the Claimant will need to bear its costs (which may then be claimed as costs at the end of the SIAC arbitration).
- It should be noted that a successful party may be reimbursed all or a significant portion of its legal costs by the losing party in the final arbitration award.