Like the IAA Network’s other cost calculators, the full SIAC cost calculator automatically estimates all costs of resolving a dispute via SIAC arbitration, including lawyer, expert, witness and other party costs. It provides merely an estimate, but a robust one.
This is different from the official SIAC arbitration cost calculator, which is limited to calculating administrator and arbitrator costs. While clearly of importance, because this head of costs only accounts for approximately one-fifth of total costs for a party to see an arbitration through to a final award, our model attempts to paint a realistic, but automatic, picture of how much one may expect an international arbitration at SIAC to cost, if it is hard fought and there is no settlement.
It uses the current schedule of fees of the SIAC. Should you desire a personalised estimate of the cost of resolving a dispute via SIAC arbitration, please do not hesitate to contact us.
Underlying assumptions for SIAC Arbitration Cost Calculator
- SIAC administrative costs based on fee schedule as of November 2014
- Model shows total costs from the preparation of a claim to the rendering of a final award
- The maximum fee is used in this model to compute the final value
- Like the official SIAC cost calculator, average arbitrator and administrative fees are estimated to be 75% of maximum fees
- Each party is assumed to share SIAC administrative expenses and arbitral tribunal costs equally, although this is not always the case
- In low-complexity cases, it is assumed that no experts are required by the parties or the arbitral tribunal
- Anticipated expert, witness, management, duration and external costs are based on CIArb Costs of International Arbitration Survey (2011)
- Attorneys’ fees, which form the largest expense in any arbitration are estimated using blended hourly rates based on international surveys
- Please note that the successful party may be reimbursed a portion of its legal costs by the losing party in the final arbitration award, a possibility which is not factored into this model