Chapter 29 - Costs Interest And Higher Damages - International Arbitration Law And Practice, Third Edition

Author(s):

Mauro Rubino-Sammartano

Page Count:

24 pages

Media Description:

1 PDF Download

Published:

January, 2014

Practice Areas:

Costs and Damages,

Arbitration Fees,

Deposit of Costs,

Apportioning of Costs,

Expenses of Parties,

Interest and Costs,

Indemnity, Damages, Punitive Damages

Author Detail:

Mauro Rubino-Sammartano is a Partner at LawFed-BRSA. Mr. Rubino-Sammartano is currently the President of the European Court of Arbitration and of the Mediation Centre of Europe, the Mediterranean and Middle East. He is also an associate member, as Italian advocate of Littleton Chambers in London. Mr. Rubino-Sammartano has acted and regularly acts as chairman, party-appointed, sole arbitrator and counsel in a large number of arbitral proceedings. His practice is largely based on international and national litigation and arbitration in the field of contracts, construction law, mergers and acquisitions, sales of goods, joint ventures and interlocutory injunctions.

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Description:

Originally from International Arbitration Law and Practice, Third Edition

29.1. Costs of the Proceedings

Amongst the costs of the proceedings one may distinguish between:

– arbitrators’ fees
– arbitrators’ costs
– other costs of the proceedings
– administrative dues of the arbitral institution
– Counsel costs and fees
– other costs directly borne by a party.

An authoritative arbitrator1 made the following clear and concise comment:

“I think the costs of arbitration are getting out of hand.”

The causes of the high costs of international commercial arbitration and the ways to reduce them have been analysed by Schneider.2

Table of Contents:

Chapter 29: Costs Interest and Higher Damages

Costs of the Proceedings
29.1 Costs of the Proceedings
29.1.1 Arbitrators’ Fees
29.1.2 The Arbitrator’s Expenses
29.1.3 Joint Liability of the Parties
29.1.4 Advances
29.1.5 Other Expenses of the Arbitral Proceedings
29.1.6 Administrative Dues of the Arbitral Institution
29.1.7 Witnesses Expenses and Per Diem
29.1.8 Security for Costs
29.1.9 Costs Follow the Event

Interest
29.2 Interest
29.2.1 Pre Award and Post Award Interest

Further Damages
29.3 Further Damages
29.4 Punitive Damages – Treble Damages
29.4.1 Punitive Damages
29.4.2 Treble Damages

Extra Costs
29.5 Extra Costs for Inappropriate Conduct