The Baltic Arbitration Days 2014 will take place in Riga/Latvia on 26 and 27 June 2014. The topic will be „International enforcement of arbitration awards / arbitration in transport related disputes”. Please safe the date. An invitation and program is published here.
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In comparison with arbitration rules in other countries, the GMAA has one big advantage: all parties involved can calculate precisely, before the commencement of the proceedings, what the arbitration fees will be. They conform to a precise scale, namely the GMAA Rules on the Remuneration of the Arbitral Tribunal. A practical Calculator makes using the fees table easier.
What is not covered by this are the fees of the lawyers involved, the expenses of the arbitral tribunal and the costs of the potentially necessary taking of evidence by means of the hearing of witnesses or obtaining an expert’s report.
All arbitral tribunal fees are received by the arbitrators. The GMAA receives no payment whatsoever from the parties to the arbitration. The GMAA finances itself exclusively through membership fees.