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ARBITRATION PURSUANT TO AN ARBITRATION AGREEMENT : Costs of the arbitration
Costs of the arbitration
59 . –
(1) References in this Part to the costs of the arbitration are to –
(a) the arbitrators’ fees and expenses,
(b) the fees and expenses of any arbitral institution concerned, and
(c) the legal or other costs of the parties.
(2) Any such reference includes the costs of or incidental to any proceedings to determine the amount of the recoverable costs of the arbitration (see section 63).
§59.1 The cost of arbitration
One of the myths of arbitration is that it is cheaper than litigation. At one end of the scale, a small claims hearing in the county court (i.e. a claim for less than £5,000) may be dealt with quickly, with minimal court fees (as low as £150 in total) and no recoverable legal fees, with the tribunal’s fees (i.e. the judge’s salary) paid by the state. In small arbitration claims, by contrast, the tribunal’s fees alone can quickly become disproportionate to the sum at stake.
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