Fee schedule and how to purchase
All fees are in US dollars and fall into three parts: the filing review fee, the arbitration fee and other costs.
Filing review fee
Paid by the claimant when applying for arbitration. The claimant may choose the speed of the review.
| Express review | Fast review | Standard review |
|---|---|---|
| USD 3,000 | USD 2,000 | USD 1,000 |
The fee is not refundable, whatever the outcome and whether or not the case is accepted, except that three-fifths is refunded where the case is withdrawn because the respondent refuses to recognise the ICE8000 default arbitration clause.
Arbitration fee
Parties may pay the arbitration fee in advance, after the award is issued, or after the award is enforced. The rate differs accordingly:
Paid in advanceWhere the party elects, at filing or after the award, to pay in advance, the fee is calculated under the tiered schedule below.
Paid after the awardWhere the party elects at filing not to pay in advance but after the award is issued, the fee is 12.5% of the amount in dispute.
Paid after enforcementWhere the party elects to pay only after the award has been enforced, the fee is 26.5% of the amount in dispute.
Tiered schedule for fees paid in advance
| Portion of the amount in dispute | Arbitration fee |
|---|---|
| Up to USD 10,000 | USD 500 |
| Over USD 10,000 up to USD 50,000 | 4% |
| Over USD 50,000 up to USD 100,000 | 3% |
| Over USD 100,000 up to USD 500,000 | 2% |
| Over USD 500,000 up to USD 1,000,000 | 1% |
| Over USD 1,000,000 up to USD 2,000,000 | 0.5% |
| Over USD 2,000,000 | 0.25% |
The fee for each tier is calculated on that portion of the amount in dispute and the tiers are added together.
Notes
- The fee is advanced by the claimant;
- It is ultimately borne by the party at fault, or shared in proportion where both parties are at fault;
- Where the claimant withdraws and the case is withdrawn under the rules, half of the advance is refunded, or a reasonable refund is made according to the stage reached;
- Where the respondent refuses to bear the arbitration fee, the advance paid by the claimant is not refunded.
Other costs
Costs incurred in the course of the arbitration for expert assessment, public notices, inspection, translation, valuation, auction, sale, storage, custody, transport, investigation, attendance of witnesses and the like are paid by the party requesting them directly to the person or organization concerned, on the principle that whoever requests bears the cost.
How to purchase the arbitration service
Go to the ICE8000 Integrity Store and select the arbitration service of the International Credit Dispute Arbitration Commission. For any question, please email [email protected].