Budget for a maritime arbitration (LMAA / SCMA / HKIAC) given claim value - rule-of-thumb costs plus typical award timeline.
Formula
$$ C = f_{tribunal}(\text{claim}) + f_{lawyer} $$
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $Claim$ | Value in dispute | USD | charter party |
| $Fee$ | Panel + administration | USD | forum schedule |
Sources
- LMAA Terms 2021.