ICSID fees and ICC fees to increase | Practical Law

ICSID fees and ICC fees to increase | Practical Law

ICSID fees are to increase with effect from 1 January 2008. The Centre's administrative charge will increase from US$10,000 to US$20,000. This charge becomes payable once the arbitral tribunal, conciliation commission or ad hoc committee has been constituted, and it is payable annually after that. The increase will apply to all cases begun after 1 January 2008, but for cases which have already been instituted the current charge of US$10,000 will continue to apply until 1 January 2009.

ICSID fees and ICC fees to increase

Practical Law Legal Update 1-379-9565 (Approx. 3 pages)

ICSID fees and ICC fees to increase

by PLC Dispute Resolution
Published on 17 Dec 2007France, International, USA
ICSID fees are to increase with effect from 1 January 2008. The Centre's administrative charge will increase from US$10,000 to US$20,000. This charge becomes payable once the arbitral tribunal, conciliation commission or ad hoc committee has been constituted, and it is payable annually after that. The increase will apply to all cases begun after 1 January 2008, but for cases which have already been instituted the current charge of US$10,000 will continue to apply until 1 January 2009.
The Centre is also reintroducing a fee for the Centre's legal staff to attend meetings away from ICSID's seat in Washington DC of US$1,500 per day. These fees and others are set out in a new Schedule of Fees.
Similarly, the ICC is increasing some of its fees. The ICC has a sliding scale of fees depending on the amount in dispute. The minimum and maximum fees remain the same, but the rates in-between have changed. For disputes worth from US$50,000 to US$50 million, the rates have increased. They will now range from 4.3% of the dispute's value at the lower end of the scale to 0.01% at the higher end. The new fees will apply to all cases where a request for arbitration is received by the secretariat on or after 1 January 2008.