Users enter key information, such as the amount in dispute, the administering institution, whether the panel will use a sole arbitrator or three arbitrators, and if an expedited or emergency procedure will be used.
The app then generates real-time projected maximum costs based on the chosen institution’s fee schedule and practice details. 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 can help businesses determine the most appropriate dispute resolution method for their cross-border transactions or projects.
Benefits of the Arbitration Pricing Calculator
- Strategic negotiation. Forecasts likely maximum arbitration costs when deciding which institution to include in your dispute resolution clause at the contract negotiation stage.
- Better budgeting. Lets you plan and calculate the deposits you may have to pay to an arbitral institution during a proceeding.
- Arbitrators can estimate their fees for any given dispute.
- The app also helps users estimate costs of ad hoc arbitration. (Read the app’s full terms of use.)
Global recognition
- Winner at the ALM Law.com Legalweek Leaders in Tech Law Awards 2023: The app’s designer, Reed Smith international arbitration partner Timothy Cooke, was named Innovator of the Year – Law Firm (Individual)
- Commended in the Digital Legal Practice category at the FT Innovative Lawyers Asia-Pacific Awards 2023
- Listed in Asian Legal Business’s Top 15 Innovative Law Firms 2023
- Finalist in The American Lawyer’s Best Use of Technology category at the AmLaw Industry Awards 2023
- Shortlisted for Best Innovation at the Global Arbitration Review Awards 2022
- Shortlisted for Most Innovative Use of Technology at The Lawyer Awards 2022
Institutions included in the app
- American Arbitration Association
- Arbitration Foundation of Southern Africa
- Asian International Arbitration Centre
- Australian Centre for International Commercial Arbitration
- BANI Arbitration Center
- BVI International Arbitration Centre
- Cairo Regional Centre for International Commercial Arbitration
- Centre for Arbitration and Conciliation of the Bogota Chamber of Commerce
- Centre for Arbitration and Mediation of the Chamber of Commerce Brazil-Canada
- China International Economic and Trade Arbitration Commission
- CIETAC Hong Kong
- Common Court of Justice and Arbitration
- Court of Arbitration for Sport
- Delos Dispute Resolution
- Dubai International Arbitration Centre
- Georgian International Arbitration Centre
- German Arbitration Institute
- Hong Kong International Arbitration Centre
- International Centre for Dispute Resolution
- International Centre for the Settlement of Investment Disputes
- International Chamber of Commerce
- International Commercial Arbitration Court
- Japan Commercial Arbitration Association
- Kigali International Arbitration Centre
- Korean Commercial Arbitration Board
- London Court of International Arbitration
- Mediation and Arbitration Center – Mauritius
- Mediation and Arbitration Centre of the Mexico City National Chamber of Commerce
- Milan Chamber of Arbitration
- Mumbai Centre for International Arbitration
- Nairobi Centre for International Arbitration
- National and International Arbitration Centre for the Lima Chamber of Commerce
- Permanent Court of Arbitration
- Santiago Arbitration and Mediation Center
- Saudi Center for Commercial Arbitration
- Singapore International Arbitration Centre
- Stockholm Chamber of Commerce
- Swiss Arbitration Centre
- Thailand Arbitration Centre
- Vienna International Arbitration Centre
