COST OF ARBITRATION AND RESOLUTION OF THE CONFLICT
Every conflict has a cost. However, to put things in context we must speak of the full cost of resolving a dispute, not just that of a single phase. It is wrong to claim that the cost of conflict solution is only a matter of lawyers' fees; the actual cost of the conflict is not even just the result of adding such fees to those of other professionals who would be involved in a lawsuit such as the Procuradores de los Tribunales [Court Procurators], notaries, expert witnesses etc. We must take into account not only the direct costs but also such indirect costs as may arise.
A dispute creates problems, very often blocking opportunities or decisions, generating uncertainty, prolonging injustice or counteracting or limiting rights.
It is therefore extremely important to give due value to aspects such as:
- speed in obtaining a solution to the conflict
- the confidentiality of the arbitration
- the arbitrator's expertise
In the TAB we understand that savings occur in arbitration because the "page is turned" much sooner, resulting in greater efficiency.
In establishing the final cost of an arbitration two concepts are highly relevant:
- the fees of lawyers and expert witnesses, which need not differ from the ordinary courts, and
- the remuneration of the arbitration institution and arbitrator.
1. RATES AND FEES FOR ARBITRATION
FILING AND REGISTRATION RATES
Know more about filing and registration rates, as well as fees and administrative costs of arbitration, in the attached link.
FEES AND ADMINISTRATIVE COSTS
Know more about fees and administrative costs in the event of incomplete arbitration.
In the attached link you will have a PDF with a graded rating scale of costs applies to claims withdrawn at any time during the proceedings before the issue date of the award, either by waiver or settlement.
2. EMERGENCY ARBITRATOR
Know the rate applicable to the precautionary measures procedure or preliminary orders to be adopted by the emergency arbitrator.