Fees
Fees
Use this page to access the schedule of fees and to estimate the costs that you are likely to incur for arbitrating at the BVI IAC. BVI IAC’s Schedule of Fees is effective as of 1 November 2016 and is applicable to all arbitrations commenced on or after 1 November 2016. Our banking details can also be found below.
Fee Calculator
Notes:
The cost calculator allows parties to estimate the likely cost of a BVI IAC Arbitration, according to BVI IAC’s schedule of fees. The cost calculator will generate the amounts for the IAC’s administrative fees and for the arbitrators’ fees. It does not generate an estimate of other expenses (i.e. disbursements).
The average fee at the BVI International Arbitration Centre (BVI IAC) refers to the typical costs parties can expect to pay for administrative services and arbitrator fees, usually based on the amount in dispute and case complexity. The maximum fee is the highest potential cost that can be charged, reflecting the most expensive scenarios in terms of dispute amount and case duration.
The estimation has no legal implications and should not be considered as necessarily reflecting what the Secretariat will fix in any given case.
BVI IAC will charge a non-refundable registration fee of US$1,500, payable by the Claimant on the filing of its Notice of Arbitration, unless the Registrar otherwise determines.
The above fees do not include expenses incurred for the arbitration (e.g. Tribunal’s and BVI IAC’s expenses). Parties may be asked to provide additional deposits to cover any such expenses and/or disbursements. As a general guide only, BVI IAC may ask for an additional deposit in the form of a 15% mark-up on the estimated maximum fee to account for such expenses and/or disbursements. BVI IAC may also ask for additional deposits over and above these amounts in cases which may require additional expenses and/or disbursements.
Payment Details
Payments may be made by a local cheque payable to “BVI International Arbitration Centre” or by bank transfer to our bank account.
Wiring instructions for incoming wires:
Bank address
Banco Popular De Puerto Rico
1500 Ponce De Leon Avenue
Santurce, San Juan, Pr 00901
Puerto Rico
Routing #:
021502011
Swift code:
BPPRPRSX
Account #:
185142455
Name on account:
BVI International Arbitration Centre
Please make sure to add $15 for incoming wire fees; also add sufficient funds to cover your bank’s outgoing wire fees.
Please do contact us directly should you have any queries about payments: arbitration@bviiac.org
Please note that the BVI IAC also accept payments by credit or debit cards.
BVI IAC Schedule of Fees
This Schedule of fees and costs applies to the following services as of 16 November 2021. All amounts are subject to change from time to time by the BVI IAC, subject to publication on the BVI IAC website. The BVI International Arbitration Centre reserves the right to adjust filing fees considering the number of cases filed with the BVI IAC on a given year.
BVI IAC Administration Fees
- Non-refundable Registration Fee (payable in advance with the Notice of Arbitration: Article 3 of the Rules): US$1,500
- Time spent by the Secretariat in the administration of the arbitration is charged ad valorem, in accordance with the table below.
| Sum in Dispute (US$) | Administration Fees (US$) |
|---|---|
| Up to 50,000 | 3,000 |
| 50,001 to 100,000 | 3,000 + 2.15% excess over 50,000 |
| 100,001 to 500,000 | 3,500 + 1.15% excess over 100,000 |
| 500,001 to 1,000,000 | 7,500 + 1% excess over 500,000 |
| 1,000,001 to 2,000,000 | 11,000 + 0.63% excess over 1,000,000 |
| 2,000,001 to 5,000,000 | 16,000 + 0.3% excess over 2,000,000 |
| 5,000,001 to 10,000,000 | 24,000 + 0.15% excess over 5,000,000 |
| 10,000,001 to 50,000,000 | 30,000 + 0.09% excess over 10,000,000 |
| 50,000,001 to 80,000,000 | 60,000 + 0.04% excess over 50,000,000 |
| 80,000,001 to 100,000,000 | 68,000 + 0.03% excess over 80,000,000 |
| Above 100,000,000 | 75,000 |
Note: BVI IAC will charge a minimum administration fee of US$2,500 payable for all cases, unless the Secretariat otherwise determines. Administration fees are calculated based on the hourly rates applicable to the different levels within the Secretariat. Administration fees are capped at US$75,000 for disputes above US$100,000,000. These administration fees do not include the following:
- Acting as an Appointing Authority – non-refundable processing fee: US$2,500
- Acting as a Fundholder: as per BVI IAC website rates
- Provision of Hearing/Meeting Facilities: as per BVI IAC website rates
- Support and Concierge Services for and in connection with any hearing (e.g., equipment, transcription and interpretation services): reasonable market rates
Arbitrator's Fees
The arbitral tribunal’s fees shall be calculated in accordance with the following table. The fees calculated in accordance with the table represent the maximum amount payable to each arbitrator (excluding tribunal secretary fees and expenses, if applicable).
| Sum in Dispute (US$) | Arbitrators’ Fees (US$) |
|---|---|
| Up to 50,000 | 4,500 |
| 50,001 to 100,000 | 4,500 + 13.5% excess over 50,000 |
| 100,001 to 500,000 | 9,500 + 6.5% excess over 100,000 |
| 500,001 to 1,000,000 | 28,000 + 4.8% excess over 500,000 |
| 1,000,001 to 2,000,000 | 45,000 + 2.7% excess over 1,000,000 |
| 2,000,001 to 5,000,000 | 65,000 + 1.2% excess over 2,000,000 |
| 5,000,001 to 10,000,000 | 90,000 + 0.7% excess over 5,000,000 |
| 10,000,001 to 50,000,000 | 115,000 + 0.3% excess over 10,000,000 |
| 50,000,001 to 80,000,000 | 200,000 + 0.15% excess over 50,000,000 |
| 80,000,001 to 100,000,000 | 240,000 + 0.075% excess over 80,000,000 |
| 100,000,001 to 500,000,000 | 250,000 + 0.065% excess over 100,000,000 |
| Above 500,000,000 | 430,000 + 0.04% excess over 500,000,000 up to a maximum of 1,500,000 |
Note: The Tribunal’s fees may also include a charge for the time reserved but not used as a result of late postponement or cancellation of hearings, provided that the basis for such charge shall be advised in writing to, and approved by, the BVI IAC and that the parties have been informed in advance.
Where, with the consent of the parties, the arbitral tribunal appoints a secretary, such secretary shall be remunerated at a rate which shall not exceed US$250 per hour.
