The UK is the cheapest and most popular venue for international arbitration, according to an authoritative published this week.
About 74% of the party, the cost in international arbitration by external costs and external charges are taken into account are the 26% higher in Europe, it found.
The survey, the Chartered Institute of arbitrators, found that plaintiff costs £ 1.540.000 in the UK, compared with £ 1.685.000 in Europe, a difference of 8% on average.
Party costs almost 13% in civil law were countries (on average £ 1.521.000) as common countries quite where the average expenditure was £ 1.348.000.
The survey showed the common costs of the arbitration proceedings, such as arbitration, were over 18% in Europe and the United Kingdom.
Overall, it is noted that plaintiff was 12% more than the respondents and the average length of an arbitration 17-20 months.
The United Kingdom was the seat of the most popular arbitration.
The survey was completed by 254 of practicing arbitrators and lawyers from five countries, of which 32% from the United Kingdom have been.
CIArb President Doug Jones said that the survey was requested by concerns about the cost of international arbitration and lack of facts on the subject.
He said: "In these tough economic times it is more important than ever for international arbitration, cost-efficient processes to follow, without the delivery of Justice in commercial matters."
Jones said it was that the United Kingdom as the cheapest came out "interesting and surprising".
' London law firms have the label as a very expensive. So that if this result on the survey sample is true, it dissolves very interesting questions, "he added."
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