Indian Law Lab

According to the Explanation of Section 31A(1) of the Arbitration and Conciliation Act 'Costs' includes administration fees of the arbitral institution. If parties refer their dispute(s) to an arbitral institution, it is imperative to be acquainted with the administrative fees of the arbitral institution. The administrative costs are fixed by the arbitral institution in accordance with their respective rules. It is often postulated by experts that arbitration is cheaper than litigation. However, in most cases, alternative dispute resolution is not as cost effective as litigation. Therefore, the issue of administrative fees has to be considered before resolving the dispute(s) through arbitration. This write up is w.r.t. the administrative cost incurred during the arbitration proceedings. As guidance, the below brief describes the administrative fees of the institution supervising the arbitration. Info Last Updated: May 11, 2019 . 1. ASSOCHAM ...