Technical Arbitration Fees
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Technical arbitration fees
The costs for technical arbitrations and appeals are detailed below:
(Please note that the amount to be paid in each case will be in line with the firm’s ICA registration status on the date of the contract giving rise to the dispute – see ICA Bylaws & Rules, Arbitration Bylaws – Fees and Charges)
| Application fees |
|---|
| Principal Firms and Related Companies registered for at least 12 months – No Fee |
| Principal Firms and Related Companies registered for less than 12 months – £15,000.00 |
| Non-registered firms (including those firms whose application for registration has been refused) – £15,000.00 |
| Other arbitration fees |
|---|
| A deposit of £10,000 shall be payable upon submission of an application for arbitration |
| An hourly rate shall be charged by the arbitrators, up to a maximum of £190.00. Fractions of an hour after the first hour shall be charged pro rata |
| A minimum fee of £100.00 shall be payable |
| An additional fee of £250.00 per arbitration will be payable to the Chairman |
| The only expenses an arbitrator shall be entitled to claim are courier fees, up to a maximum of £50.00 unless substantiated with a receipt |
| When an arbitration case is cancelled the ICA Management Team shall take a percentage of the stamping charge, based on the claimant’s membership status, as an “administrative fee” which will be taken out of the deposit at the following rates: 1. After request for arbitration and deposit obtained 25% 2. During submissions stage 50% 3. After submissions stage 75% |
| Stamping charges |
|---|
| Principal Firms and Related Companies £400.00 |
| Non registered firms £800.00 |
| Notarisation |
|---|
| All firms £600.00 |
