What is the ICC arbitration?

ICC International Court of Arbitration® The International Court of Arbitration® is the world’s leading arbitral institution. Since 1923, we have been helping to resolve difficulties in international commercial and business disputes to support trade and investment.

How much does an international arbitration cost?

Average legal fees range from USD 50 per hour (very low) to USD 600 per hour (high). Most law firms will charge far more than USD 50 per hour and legal fees are the primary cost of international arbitration. The average ICC arbitration requires between 1,000 and 5,000 hours of work, depending on its complexity.

Is ICC arbitration expensive?

The same ICC Commission Report logs arbitrators’ fees at an average of 15% of expenses, and ICC’s average institutional expenses at a mere 2%. Additionally, several external factors may impact the costs a party bears.

How do I file for arbitration ICC?

To begin an ICC Arbitration, you need to submit a “Request for Arbitration” with the Secretariat of the ICC International Court of Arbitration® at any of the offices specified below. After acknowledging receipt of a “Request,” the Secretariat will notify the respondent party or parties.

Where is the ICC located?

The Hague, the Netherlands
Headquarters: The Hague, the Netherlands. There have thus far been 30 cases before the Court, with some cases having more than one suspect. ICC judges have issued 35 arrest warrants.

Who pays international arbitration?

That practice reveals two basic approaches: either the loser pays the successful party’s costs (sometimes called ‘costs follow the event’); or each party pays its own costs regardless of the outcome.

Who first reviews the request for arbitration in real estate?

Upon receipt of a request for arbitration, the Professional Standards Administrator shall make a preliminary review of the request to determine if the request is in acceptable form. Any request that is not in acceptable form shall be returned to the complainant accompanied by the initial conclusions.

Is ICC arbitration binding?

Arbitration under the ICC Arbitration Rules is a formal procedure leading to a binding decision from a neutral arbitral tribunal, susceptible to enforcement pursuant to both domestic arbitration laws and international treaties such as the 1958 New York Convention.

What is the International Court of Arbitration?

ICC International Court of Arbitration®. The International Court of Arbitration® is the world’s leading arbitral institution. Since 1923, we have been helping to resolve difficulties in international commercial and business disputes to support trade and investment.

What is the ICC arbitration Directory?

This directory provides key information on ICC arbitration cases without compromising expectations of confidentiality.

When to choose ICC arbitration as the preferred dispute resolution method?

If ICC Arbitration is chosen as the preferred dispute resolution method, it should be decided when negotiating contracts, treaties or separate arbitration agreements. However, if both parties consent, this can be included after a dispute has arisen as well.

What makes us the leading arbitral institution?

Our rigorous approach, efficient processes and practical rules that cover every contractual issue have made us the leading arbitral institution. With teams across the globe, we stand ready to help you at any stage of your dispute.