The Chartered Institute of Arbitrators (CIArb) has launched a survey into the costs of international arbitration. While lower costs are often cited as a key advantage of arbitration over litigation, it is now recognised that costs can escalate in complex arbitration proceedings. With the Costs of International Arbitration Survey, the CIArb aims to uncover ways in which costs might be reduced and procedures streamlined to become more cost-effective and efficient. Corporate counsel, party representatives, arbitrators and tribunal members are encouraged to provide as much data as possible on the costs incurred in international arbitration proceedings that they have been involved in, and, further, how the costs were incurred at each stage of the arbitral proceedings.

The results of the survey will be presented at a CIArb conference, sponsored by Alvarez & Marsal, on 27-28 September 2011 in London. The CIArb hopes that both the survey report and conference will help to generate proposals to restore speed and cost-effectiveness to the arbitration process.

Source: Chartered Institute of Arbitrators.