…international arbitration rules, such as the ICC Rules of Arbitration, leave the decision on costs entirely to the discretion of the arbitral tribunal.** And because the approach to the recovery…

the rules, however, adopt a purely subjective requirement, leaving the arbitrator to decide the circumstances to be disclosed, while others, like the ICDR Rules, provide for an objective test, with…

…Regulation, as well-known, does not apply to arbitration, which is expressly excluded from its scope of application by Article 1 (2) d (“the Arbitration Exception”). The current revision process of…