Journal of Arbitration Studies (한국중재학회지:중재연구)

The Korean Association of Arbitration Studies (한국중재학회)
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A Study on the Means for Securing of Arbitration Expenses under the UK Arbitration Act

영국중재법상 중재비용의 확보 수단에 관한 연구

  • 한낙현 (경남대학교 국제무역물류학과) ;
  • 최두원 (부산외국어대학교 국제무역마케팅학부)
  • Received : 2019.11.08
  • Accepted : 2019.11.30
  • Published : 2019.12.01
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Abstract

The parties are jointly and severally liable to pay to the arbitrators such reasonable fees and expenses (if any) as are appropriate in the circumstances. Any party may apply to the court (upon notice to the other parties and to the arbitrators) which may order that the amount of the arbitrators' fees and expenses shall be considered and adjusted by such means and upon such terms as it may direct. Arbitrators' fees and expenses are calculated on the basis of informal time fees determined by the arbitrators themselves, and the fees and expenses also vary greatly depending on the nature of the case. Obviously, when appointing a member of the LMAA as an arbitrator, it is rare to negotiate the fees and expenses with the arbitrator and to make specific arrangements for the fees and expenses. And it is common for between an arbitrator and a party to have an arbitrator agreement only in accordance with LMAA Terms. And it is common for between an arbitrator and a party to have an arbitrator agreement only in accordance with LMAA Terms. The purpose of this study analyzes the structure of arbitrators' fees and expenses under the UK Arbitration Act and LMAA Terms 2017. The contents can be divided into the relationship between the arbitrator and the parties (the claim of fees, the type of fees) and the relationship between the parties(the burden rate of arbitrators' fees). In this regard, this study suggests the implications after comparatively analyzing the UK Arbitration Act and the LMAA Terms 2017.

Keywords

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