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Controlling the Rising Costs in Arbitration: Where Technology Can Help (and Where it Can't) - Journal of Technology in International Arbitration - Vol. 1, No. 1

Author(s): 
Daniel E. González
Maria Catalina Carmona
Roland Potts
Page Count: 
10 pages
Media Description: 
1 PDF Download
Published: 
June, 2015
Jurisdictions: 
International
Practice Areas: 
Commercial Disputes,
Ad hoc,
Online Arbitration,
International Character of Dispute,
Institutional and Administered Arbitration,
International and Transnational Law,
Choice of Forum/ Place of Proceedings,
Costs and Damages,
Apportioning of Costs,
Arbitration Fees,
Deposit of Costs,
Expenses of Parties,
Dispute Resolution & Litigation,
ADR,
Applicable Law,
ICC,
Other International Institutions and Rules,
AAA,
LCIA,
Discovery,
Electronic Documents,
Evidence,
Experts,
Hearing,
Written Proceedings,
New York Convention
Tags: 
IBA Rules

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Description: 

Originally from Journal of Technology in International Arbitration

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The lower assumed cost of arbitration compared to litigation
is often touted as one of arbitration’s top advantages over
traditional court litigation. Still, with the rise in popularity of this
dispute resolution alternative, especially among sophisticated
parties in complex international matters, many of those having
gone through an arbitration procedure can attest that this is more
of a myth than a reality and that arbitration may not be so
inexpensive after all.1
 
 
The arbitration community is increasingly concerned with
reducing the costs of arbitration, so it can continue to serve as a
financially viable and attractive alternative to litigation. The best
way to truly control the cost of an arbitration is to identify the
areas where cost quickly accrues and then design ways to
monitor and rein in such cost. As discussed below, the use of
modern technology can help reduce certain costs in the course of
an arbitration. In other respects, however, some costs are
relatively fixed and/or may not be susceptible to reduction
through the introduction of technological innovations.