Fixed Price Arbitration Service Update

Fixed Price Arbitration Service Update

Kings Chambers offers a fixed price arbitration service tailored to disputes requiring cost effective and quick resolution and can be dealt with either on paper or by way of a remote hearing during the current Covid 19 restrictions.  Kings Chambers will be pleased to provide the parties with the technical assistance required and accommodate remote hearings.

The Kings Arbitration Service (KAS) has already been running successfully for four years. It is a cost-effective mechanism for alternative dispute resolution providing flexibility, accessibility, confidentiality and speed.

If the parties do not already have an existing arbitration agreement that is not a problem. Parties are free to enter into an ad hoc arbitration agreement to resolve a dispute that has arisen. A copy of a KAS draft ad hoc arbitration agreement can be made available upon request.

In a KAS arbitration and subject to the agreement of the parties:

In a KAS arbitration and subject to the agreement of the parties:

  • the parties are free to agree the details of the resolution process that works for their particular case
  • the parties are free to agree to limit the ability of a party to appeal an arbitration award thereby promoting finality and reducing costs
  • disputes can be determined on paper, with remote hearings (using Zoom, Skype for Business, Teams etc) or with hearings in person
  • speed – a specialist arbitrator can be appointed by the parties from an existing list of specialists with the proceedings dealt with expeditiously
  • the timing of the procedures is flexible eg remote or in-person hearings can take place at any time eg the evenings or at weekends  
  • the process is flexible so as to deal with preliminary issues, disclosure and witness evidence in the most efficient and cost-effective manner
  • confidentiality of proceedings

The parties have much greater control over the process than with litigation.  KAS can also offer training to solicitors to explain how the KAS system works alongside the technology including remote hearings.

Fees

Fees are normally subject to a number of issues in any given case such as length of hearing, value of claim, complexity and bundle volume so it is impossible to formulate a structure which covers every eventuality. This matrix is to assist parties by giving a guide as to fees within certain parameters.

There are 3 options:

  1. Paper
  2. One day Arbitration
  3. Two day Arbitration

These are further categorised by the band of Arbitrator. The fees incorporate the Arbitrator reading in, considering and preparing, hearing the Arbitration (with the exception of Paper arbitration) and the drafting of the award. 

Arbitrator      Paper Arbitration     1 day Arbitration      2 day Arbitration

Category A    £6000                          £8500                          £11000

Category B    £5000                          £7500                          £9000

Category C    £4000                          £6000                          £7500

 

To view a list of KAS Arbitrators please click here.

In all instances, our clerks will advise you of costs well in advance of work being undertaken. The fees agreed will include any directions hearings leading up to the final hearing.

If you are interested in discussing further or in receiving more details please do not hesitate to contact Chief Clerk Gary Young at gyoung@kingschambers.com.

The Kings Arbitration Team.

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