On 8 October 2013, the international conference on “Costs of International Arbitration: Challenges and Solutions”, was held in Istanbul, Turkey. The Conference was organized by the Istanbul Chamber of Commerce and ISPRAMED in collaboration with the UNCITRAL and tackled the following issues pertaining to the costs of arbitration:
- Where and how arbitration costs are incurred? How to mitigate costs?
- Arbitration costs in the light of recent developments in arbitration law.
- Arbitration costs under the Turkish arbitration law.
- Regulating costs: the new review mechanism in the UNCITRAL Rules.
- The role of institutions: How can arbitral institutions contribute to cost control?
CRCICA Director participated in the roundtable session dedicated to comparing the role of arbitral institutions in controlling costs. The salient features of CRCICA Arbitration Rules pertaining to the costs of arbitration as well as their implementation by CRCICA in practice were highlighted and shared with the audience within a very interesting comparative approach including the Rules of the Milan Chamber of Arbitration, the Algerian Centre of Conciliation, Mediation and Arbitration, the Lebanese Arbitration Centre and the Arbitration Department of Istanbul Chamber of Commerce, in addition to CRCICA.