Take Control of Your Arbitration Costs

When parties lament the costs of arbitration, I wonder if as an arbitrator I need to undertake a review of what can be done to make things more efficient.As we begin 2012, I reflect back on a topic we all (practitioners and arbitrators) read and heard a lot about in 2011, namely managing, or indeed in some cases “trimming”, the costs of arbitration. Surveys and studies demonstrate that the overwhelming costs of commercial arbitrations are not arbitrator fees or fees charged by arbitration providers, but the costs incurred by the parties to present their cases. Generally between 75% and 80% of the total expenses of an arbitration are attributable to the parties’ own legal fees/costs.

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