Arbitration, Cost allocation mechanisms, Costs, Costs in arbitral proceedings, Investment Arbitration, Security for Costs
Security for Costs in Investment Arbitration: Who Should Bear the Risk of an Impecunious Claimant?
When allocating costs, investment arbitration tribunals apply two principles: a “pay your own way” principle which provides that each party pays its own legal costs and they effectively share the costs of the proceedings, and secondly a “costs follow the event” or “loser pays” principle which provides that the losing party bears the costs of…