With effect from 1 July 2012, the London Court of International Arbitration (LCIA) will be increasing its registration fee for an arbitration under its auspices. The fee will be increased from £1,500 to £1,750. This fee is payable in advance along with the submission of the Request for Arbitration to the LCIA and is non-refundable.
In respect of the maximum hourly rate chargeable by any member of the tribunal, the maximum hourly rate will be increased by £50 from £400 to £450 per hour, save in exceptional circumstances.
For the LCIA to act solely as an appointing authority, the registration fee will increase from £1,000 to £1,250.
Finally, there is no change to the hourly charge out rate for the time spent by the Secretariat of the LCIA in the administration of the arbitration. For the Registrar/Deputy Registrar/Counsel, the fee remains at £225 per hour and for all other Secretariat personnel, it will be continue to be either £100 or £150 per hour depending on the activity involved.
For more information generally and a comparison of the costs and fees for arbitrations administered by other arbitral institutions, we have a Guidance Note specifically on Costs In Arbitration Proceedings.
The Guidance Note on Cost in Arbitration Proceedings will be updated to reflect these revised fees once they take effect on 1 July 2012.