The Schedule of Fees has been updated to address new ICSID Mediation Rules and Fact-Finding Rules, which also come into effect on July 1, 2022. The revised schedule specifies that a non-refundable fee of US$1,000 is payable to ICSID by the party requesting the institution of mediation and fact-finding proceedings. Additionally, ICSID will charge US$200 per hour for staff services provided in mediation and fact-finding proceedings.
Under the revised Memorandum on Fees and Expenses, Members of ICSID Commissions, Tribunals, ad hoc Committees, Fact-Finding Committees and Mediators are entitled to an hourly fee of US$500 for each hour of work performed in connection with the proceeding. This marks the first increase to ICSID’s fees since 2005. Rates for per diems have also been adjusted to reflect comparable market rates.
As per ICSID’s practices, work performed must be declared in a detailed, itemized format and a financial statement of the case account is available to parties at any time during the proceeding.