Awards and Costs of Arbitration
The arbitral awards are final and binding.
The costs of arbitration are to be paid by the parties as follows:
fees as well as the administration costs are to be paid to EMAC based on lump-sum amounts
- The tribunal’s fees are to be paid directly to the tribunal based on hourly rates set by the tribunal
The tribunal may request the parties to deposit advances for costs.
Costs are discretionary but to be borne by the unsuccessful party.