The costs of arbitration should be proportionate not only to the legal and factual complexities but also the means of the parties. One of the substantial advantages of mediation is the saving of the costs of going to Court.
However, before deciding to go to arbitration you would want to have some idea of the fees likely to be charged. I therefore offer the following guidelines as to my normal fees as an arbitrator for disputes up to £500,000. The fees would be firmly fixed by agreement before entering into the mediation process.
One day arbitration:
- £1500 plus vat per party (includes up to 3 hours preparation & full day e.g. 10.00am – 5.30pm or 10.30am to 6.00pm
Two or more days Arbitration:
- Day one – £1500 plus vat per party (includes up to 3 hours preparation & full day e.g. 10.00a.m – 5.30pm or 10.30am to 6.00pm
- Further days – £1250 plus vat per party per day
- Any additional preparation, hearing hours and writing award £150 plus vat per hour for each party.
- More than two-party arbitrations and disputes in excess of £500,000 – fees to be agreed.