1. What is the SIAC Costs Calculation?

The SIAC (Singapore International Arbitration Centre) costs calculation determines the administrative fees and arbitrator's fees based on the claim amount and applicable fee rate.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• \( Claim\ Amount \) — The amount in dispute in USD
• \( Fee\ Rate \) — The applicable percentage rate

Explanation: The calculation multiplies the claim amount by the fee rate percentage (converted to decimal) to determine the total cost.

3. Importance of Cost Calculation

Details: Accurate cost estimation is crucial for budgeting arbitration proceedings and understanding the financial implications of dispute resolution.

4. Using the Calculator

Tips: Enter the claim amount in USD and the fee rate as a percentage (e.g., 2.5 for 2.5%). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What does the fee rate typically range?
A: Fee rates typically range from 0.5% to 5% depending on the arbitration rules and complexity of the case.

Q2: Are there additional costs beyond this calculation?
A: Yes, there may be additional costs for hearings, expert witnesses, or other arbitration expenses not included in this basic calculation.

Q3: Is this calculation applicable to all arbitration cases?
A: This provides a general estimate. Actual costs may vary based on specific SIAC rules and case circumstances.

Q4: How often are fee rates updated?
A: Fee schedules are typically reviewed annually, but may change more frequently in special circumstances.

Q5: Can this calculator be used for emergency arbitrator applications?
A: Emergency arbitrator applications may have different fee structures and this calculator may not apply.