The freedom to shape the arbitration proceedings by agreement of the parties, even once initiated, and confidentiality provide advantages and efficiency in the interests of the parties, such as having bespoke proceedings.
ARBITRATION
(fees in EUR exclusive of VAT)
Registration fee: 200
ADMINISTRATION FEES
Amount in dispute | Minimum | % tranche | Maximum |
Up to 20.000 | 0 | 1,50 % | 300 |
From 20.001 to 50.000 | 300 | 1,25 % | 675 |
From 50.001 to 100.000 | 675 | 1,25 % | 1.300 |
From 101.001 to 200.000 | 1.300 | 1,25 % | 2.550 |
From 200.001 to 500.000 | 2.550 | 0,75 % | 4.800 |
From 500.001 to 1.500.000 | 4.800 | 0,25 % | 7.300 |
Greater than 1.500.000 | 7.300 | 0,10 % | of the excess |
Arbitrators' fees | |||
Up to 20.000 | 900 | 4 % | 1.700 |
From 20.001 to 50.000 | 1.700 | 3.50 % | 2.750 |
From 50.001 to 100.000 | 2.750 | 3 % | 4.250 |
From 101.001 to 200.000 | 4.250 | 2 % | 6.250 |
From 200..001 to 500.000 | 6.250 | 1 % | 9.250 |
From 500.001 to 1.500.000 | 9.250 | 0,40 % | 13.250 |
Greater than 1.500.000 | 13.250 | 0,40 % | of the excess |
Depending on the complexity of the matter, this rate may be increased by an additional 20%.
CALCULATION OF FEES IN THE EVENT ARBITRAL PROCEEDINGS ARE CONCLUDED BEFORE THE AWARD IS HANDED DOWN
In order to give the parties the opportunity to reach a settlement on the differences submitted to the arbitration of the Consulate of the Sea, the Council of Twenty has adopted an agreement to reduce the arbitration fees, as well as the administrative cost, in all cases in which the parties submit, by mutual agreement, a request for filing or, at the request of the claimant, a declaration of withdrawal, in ongoing proceedings.
The reduction of arbitration fees and administrative cost has been set as a percentage on the basis of the payments made, depending on the moment the case is brought to an end during proceedings, taking into account the work carried out until this moment, by the arbitrator and by the Consulate of the Sea alike.
The first column sets the percentage of the arbitrator’s fees on the payments made, the rest shall be returned to the party who made the payments. In the second column sets the percentage that corresponds to the Consulate of the Sea by way of administrative costs, the rest shall be reimbursed to the party that has made the payments.
The aforementioned agreement shall apply to all arbitration proceedings in which the parties have settled or withdrawn before the award is handed down, without prejudice to the adjustment thereof in line with the circumstances of each case, which shall be evaluated by the Council of Twenty or the Select Committee, as the case may be.
Amount in dispute | Arbitrator fees % | Administrative cost % |
Arbitration appearance | 15 | 30 |
Pleadings | 30 | 40 |
Proposal of Evidence | 40 | 50 |
Admission of evidence and subpoenas | 50 | 75 |
Hearing of Evidence | 65 | 85 |
Conclusions | 70 | 90 |
Award | 100 | 100 |
Approved at the session of the Select Committee on 11/7/2011
Ratified by the Council of Twenty in the session of 2nd November, 2011.
