On 27 September 2011, the results from the Chartered Institute of Arbitrators' Costs of International Arbitration Survey 2011 were presented at CIArb's international conference, Costs of International Arbitration, in London. (Free access.)
The costs of international arbitration vary, depending on where the arbitration takes place.
The UK was chosen as the most common arbitral seat for survey respondents.
Claimant costs averaged nearly 10% higher in the rest of Europe compared with in the UK.
External legal fees were over 26% higher in the rest of Europe (74% of party costs were spent on external legal fees).
Common costs (such as arbitrators' fees) were reportedly over 18% higher in Europe than in the UK.
Party costs were around 13% higher in civil law countries than common law countries.
On average, claimants spent 12% more than respondents.
The average length of an arbitration was between 17 and 20 months.
Institutions administered 62% of arbitral proceedings, with the International Chamber of Commerce appearing as the most popular choice for institutional arbitrations. The survey draws no conclusions about whether institutional arbitration is more or less expensive than ad hoc arbitration or on the relative cost of institution-administered arbitration.