Arbitration Cost Calculator

Formula

The formula to calculate the Arbitration Cost (AC) is:

\[ \text{AC} = \text{HC} \times \text{T} \]

Where:

$ \text{AC} $ is the Arbitration Cost ($)
$ \text{HC} $ is the Hourly Cost of Arbitration ($/hr)
$ \text{T} $ is the Total Arbitration Time (hrs)

What is Arbitration Cost?

Arbitration cost refers to the total expense incurred for resolving a dispute through arbitration, which includes the fees paid to the arbitrator(s) based on their hourly rates and the total time spent on the arbitration process. It is an important factor to consider for parties opting for arbitration as a means of dispute resolution.

Example Calculation

Let's assume the following values:

Hourly Cost of Arbitration (HC) = $150.00 per hour
Total Arbitration Time (T) = 10 hours

Using the formula to calculate the Arbitration Cost:

\[ \text{AC} = 150.00 \times 10 = 1500.00 \text{ dollars} \]

The Arbitration Cost is $1500.00.