Brattle Contributes to the LCIA’s Updated Costs and Duration Analysis 2024

A team of Brattle economists supported the London Court of International Arbitration (LCIA) in its latest costs and duration analysis report, which evaluates LCIA arbitrations as part of the organization’s ongoing commitment to transparency and assisting users to make more informed choices.

This latest report, which is a follow-up to LCIA’s 2015 and 2017 analyses, compiles and analyses actual data to provide cost insights and demonstrate the cost-effectiveness of LCIA arbitration in comparison with other arbitral institutions . The new analysis covers all cases that reached a final award between January 1, 2017, and May 12, 2024.

The latest figures demonstrate that the costs and duration of LCIA arbitrations have remained relatively stable since the 2017 study. A slight fluctuation in the aggregate figures is primarily due to a rise in the amount in dispute; as cases get larger, the incremental duration and cost increases are attributable to the parties. COVID-19 is also likely to have influenced the costs and durations of many arbitrations completed since 2020, though it remains premature to definitively conclude about the precise extent of COVID-19’s impact on costs and duration, or whether costs and duration for post-pandemic cases fully match pre-pandemic levels.

The Brattle team supporting LCIA on the report was led by Principal Richard Caldwell and included Associate Felix Schmidt and Senior Research Analysts Pere Calvet and Elena Cannone. The updated report can be found on the LCIA’s website.