DIFC-LCIA Arbitration - Costs and Fees (2016 Rules) [Archived]

Copyright © 2024 LexisNexis. All rights reserved.

Overview

  • The DIFC-LCIA Arbitration Centre was dissolved in September 2021 as per Dubai Decree No. 34/2021. Its operations and assets have been emerged into a Dubai International Arbitration Centre (DIAC). Ownership of real estate, assets, funds, staff, financial allocations and membership base will also be transferred to the new Centre.

  • This Practice Note deals with the 2016 rules and procedures of the former DIFC-LCIA Arbitration Centre.

  • This Practice Note considers the costs and fees under the DIFC-LCIA Arbitration Rules 2016, which apply to arbitration proceedings between 1 October 2016 and 1 January 2021. The 2008 and 2021 versions of the Rules are available on the institution's website.

Definitions

  • LCIA : The London Court of International Arbitration.

Practical Guidance

Tribunal fees and DIFC-LCIA's charges

The arbitrators appointed in DIFC-LCIA arbitrations and the institution are paid for the work that they do on a time spent basis. This differs from some institutions which charge for their work and that of the tribunal on an “ad valorem” or lump sum basis and others which have options for both methods of charging.