There are three aspects to the payment of the ICC costs deposit, or “advance on costs” as it is called under the Rules of Arbitration:
The Court will fix the actual costs of the arbitration (i.e. the ICC administrative expenses and the arbitrators’ fees) at the end of the case. Those costs, as well as the arbitrators’ reimbursable expenses, will then be paid from the advance on costs. If there is any money left over it will be reimbursed to the parties.
ICC’s administrative costs and the arbitrators’ fees are fixed according to a scale of costs based on the monetary value of the claims. This system offers predictability for the parties, who can estimate the range of costs as soon as the value of the claims is known. A costs calculator is provided on the website for this purpose. Where necessary, the Court has discretion to fix the costs at an amount higher or lower than that which is generated by the costs scales.
At the end of an arbitration, parties may make costs claims in respect of the costs to be paid out of the advance on costs (i.e. the arbitrators’ fees and expenses and ICC administrative expenses) and in respect of reasonable other costs they may have incurred (e.g. legal costs and expert costs). The arbitral tribunal can then award costs in favour of or against one or more parties.
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