Reed Smith’s Arbitration Pricing Calculator is a first-of-its-kind mobile app designed to help you choose the best form of dispute resolution.
Shortlisted for “Best Innovation” at the 2022 Global Arbitration Review Awards, this innovative new app enables users to forecast arbitration costs at key arbitral institutions around the world by navigating the myriad cost structures quickly and accurately.
"Certainty over costs is crucial to our assessment of funding applications for international arbitration. The Arbitration Pricing Calculator gives us that certainty, across multiple institutions and varying case scenarios, quickly and efficiently. A must-have tool for funders, parties and counsel alike." Tom Glasgow, Managing Director, Chief Investment Officer (Asia), OMNI BRIDGEWAY
"This is a really welcome tool for in-house disputes lawyers. Super user-friendly, providing quick answers backed by detailed insights. Having this data to hand in a reliable app like this will certainly save time." In-house counsel, international trading company
How does it work?
The app helps users to calculate the expected administrative and tribunal costs of arbitration in more than 20 currencies and for 37 international arbitration centers.
Users simply enter key information, such as the amount in dispute, which institution will administer the case, whether the panel will comprise a sole arbitrator or panel of three, and whether an expedited or emergency procedure will be used.
The app then generates real-time forecasted costs based on the chosen institution’s fee schedule and practice notes. It also provides the user with other information about the institution and its rules. Forecasted costs are automatically converted to the user’s selected currency, with exchange rates adjusted daily.
In addition to users engaged in dispute resolution, the Arbitration Pricing Calculator will help businesses to determine the best dispute resolution method for their cross-border transactions or projects.
Benefits of the Arbitration Pricing Calculator
Strategic negotiation. Allows you to forecast likely costs of arbitration when deciding which institution to include in your dispute resolution clause when negotiating contracts.
Better budgeting. You can plan and calculate the deposits you may need to make to an arbitral institution.
Arbitrators can estimate their fees for any given dispute.
The appalso helps users estimate costs of ad hoc arbitration.
The Arbitration Pricing Calculator is a free download available through the Apple and Google Play app stores.
The Arbitration Pricing Calculator was designed by Timothy Cooke, a partner in Reed Smith’s world-recognized international arbitration practice. Timothy is a barrister with two decades of experience representing both international and Asian clients. He wrote what is widely considered the authoritative book on international arbitration in Singapore – International Arbitration in Singapore: Legislation and Materials.
