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CHAPTER VI COSTS OF ARBITRATION

CHAPTER VI COSTS OF ARBITRATION 49.

DETERMINATION OF THE COSTS OF THE ARBITRATION

49.1 The costs of the arbitration shall be fixed in the final award or, if the arbitration is terminated before the rendering of a final award, in a consent award or in an order for the termination of the arbitration. 49.2 The costs of the arbitration include: (a)

the fees of the arbitral tribunal;

(b)

the travel and other expenses incurred by the arbitrators;

(c)

the costs of expert advice and of other assistance required by the arbitral tribunal;

(d)

the Administrative Fee and expenses of the Institute; and

(e)

the legal and other costs incurred by the parties in relation to the arbitration, if such costs have been claimed and to the extent that the arbitral tribunal considers that the amount of such costs is reasonable.

49.3 Before rendering the final award, consent award or order for the termination of the arbitration, the arbitral tribunal shall request that the Institute determine the costs referred to in Article 49.2(a)-(d) in accordance with Appendix II. The arbitral tribunal shall include in the final award, consent award or order for the termination of the arbitration the costs of the arbitration as finally determined by the Institute and specify the individual fees and expenses payable to each arbitrator and the Institute. 49.4 Unless otherwise agreed by the parties, the costs of the arbitration shall in principle be borne by the unsuccessful party. However, the arbitral tribunal may allocate any of the costs of the arbitration between the parties in such manner as it considers appropriate having regard to the circumstances of the case. The arbitral tribunal may order the payment of any amount that a 42

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Arbitration Rules of the Finland Chamber of Commerce 2020  

Arbitration Rules of the Finland Chamber of Commerce 2020