Commercial Arbitration Less Than 75K
Product Code: 43
Arbitration Agreements Associations.
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- State-of-the-art commercial arbitration.
- Standard Fee Schedule process.
- Flexible Fee Schedule that features an Initial Filing Fee.
- Fee modifications can take place.
- Non-monetary claims policy.
Commercial Arbitration Less Than 75K
ArbitrationAgreements.org provides state-of-the-art commercial arbitration. Our arbitral services extend to all claims that total less than $75,000. If that is the case for your party, our standard Filing Fee is only $925. Plus, the Final Fee totals $800. We provide parties with two options when it comes to paying administrative fees. There is the Standard Fee Schedule and the Flexible Fee Schedule. In each schedule, administrative fees get based on one key factor. That is the amount of a claim or counterclaim. These fees have to get paid by the party that brings a claim/counterclaim. (This refers to a claim or demand filed through ArbitrationAgreements.org.) Please note that arbitrator compensation is never included in either schedule. Arbitrator compensation/administrative fees become subject to allocation by every arbitrator. Allocation takes place whenever an arbitrator creates an award. This is always the case unless a multi-party agreement states otherwise.
The Standard Fee Schedule is a simple, two-payment schedule. It features somewhat higher initial filing fees. But its administrative fees are lower. This applies to cases that proceed to arbitral hearings. Parties have the option of taking part in our organization’s Flexible Fee Schedule. This process features a convenient, three-payment schedule. It also provides a lower initial filing fee. Say that your party pays that fee. Our team then spreads future payments out over the duration of arbitration. Keep in mind that total administrative fees are somewhat higher for parties. These higher costs apply to all cases that proceed to an arbitration hearing.
The Basics of the Standard Fee Schedule
Here is the first step of our Standard Fee Schedule process. It is to pay the Initial Filing Fee in full. The filing party does so if a claim or counterclaim gets filed. A filing party also has to pay the fee if more arbitral claims become filed. A Final Fee applies to every case that proceeds to a first hearing. This fee becomes payable in advance once a first hearing gets scheduled. Please keep in mind that fee modification can sometimes take place. Fees can increase if a claim/counterclaim increases beyond the first filing date. Also, fees can sometimes decrease. This can happen if a claim/counterclaim decreases before a first hearing happens.
Our organization has specific fees in place for cases with three or more arbitrators. Parties become subject to a minimum Initial Filing Fee that totals $4,400. Plus, a Final Fee must also apply that totals $3,850. ArbitrationAgreements.org also has a non-monetary claims policy. This official policy refers to the non-monetary filing fee. This is a minimum filing fee that applies to a case where non-monetary relief’s requested. Say that your party is seeking both monetary damages and non-monetary relief. The filing fee that is the highest will apply to your party.
The Basics of the Flexible Fee Schedule
ArbitrationAgreements.org has a Flexible Fee Schedule that features an Initial Filing Fee. This fee must get paid in full by every filing party. It applies when a claim, counterclaim, or extra claim goes through the filing process. Parties have ninety days to pay the Proceed Fee. This time frame starts once there is a filing of the demand for arbitration. It can also start once there is a filing of the demand for a counterclaim. ArbitrationAgreements.org must have this fee paid to proceed with the arbitral process. Otherwise, we cannot continue to further administer arbitration. This includes administering the steps of the arbitrator appointment process.
Say that a party does not pay the Proceed Fee within the ninety day time frame. ArbitrationAgreements.org will notify all involved parties that we are closing the file. Now, say that a party uses the Flexible Fee Schedule to file a counterclaim. That party must pay the Proceed Fee in full. Otherwise, our team will not present the counterclaim to the arbitrator. A Final Fee applies to every case that proceeds to a first hearing. Parties can pay this fee in advance. We recommend paying it as soon as a first arbitration hearing gets scheduled.
Fee Modification Available
Once again, fee modifications can take place. Fees can increase if a claim/counterclaim becomes increased. This sometimes happens after an initial filing date. Fees are also subject to decrease. That can take place if a claim/counterclaim decreases before the first hearing. Say that your case features at least three arbitrators. This means that there is a minimum Initial Filing Fee of $2,200. Plus, there is also a $3,300 Proceed Fee. The Final Fee will total $3,850. ArbitrationAgreements.org has an official non-monetary claims policy. So, what is a non-monetary filing fee? It is the minimum filing fee for any case where non-monetary relief's requested. Say that a party seeks monetary damages and non-monetary relief. The higher of the filing fees will then apply to that party.
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