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Although there is a fee payable for the arbitrator this will be agreed in advance and shared by the couple. The overall cost of the arbitration process is however likely to be significantly less than the cost incurred within the Court process, principally because the arbitration process will be much quicker.
Arbitration Costs
Although there is a fee payable for the Arbitrator this will be agreed in advance and shared by the couple. It will usually be based on the hourly rate of the individual selected as Arbitrator. Notwithstanding the fact that the Judge’s time at Court is ‘free’, the huge delay occasioned by the timetable for Court listing means that that the legal fees will increase considerably over that time, and undoubtedly beyond the cost incurred by the arbitrator. The fact that a hearing date can be allocated promptly within the arbitration process (rather than waiting several months for a Court date) means that overall legal costs are reduced, as is the risk of circumstances changing while a hearing date is awaited which can cause duplication of work.
If an arbitration is to be handled simply by a written submission the cost, to be shared by the couple, is likely to be in the region of £2,500 plus VAT. If however the issue is a narrow issue to be determined, such as an outstanding point emerging from discussions within mediation or a single issue regarding children such as arrangements for Christmas or summer holidays, the cost can be significantly less.
Where a full hearing with legal representation is required and both individuals have an opportunity to give oral evidence the costs can be tailored to suit the specific case with particular regard being given to the complexity of the issues in dispute.
For further information contact Karin Walker on 01483 375788 or by email on [email protected]