Supplement No. 2 to the Rules of the Riga International Arbitration Court
|SUM IN DISPUTE**||ADMINISTRATIVE EXPENSES||EACH ARBITRATOR’S FEE
If the dispute is settled by
|1 arbitrator||3 or more arbitrators|
|Up to EUR 1'422||10% no summas, bet ne mazāk kā EUR 71||EUR 95||EUR 71|
|EUR 1'422 - 7'114||EUR 142 + 2% of sum which exceeds EUR 1'422||EUR 142||EUR 99|
|EUR 7´114 - 28´457||EUR 256 + 1% of sum which exceeds EUR 7'114||EUR 213||EUR 142|
|EUR 28'457 - 142'287||EUR 469 + 0,8% of sum which exceeds EUR 28'457||EUR 498||EUR 284|
|EUR 142'287 - 711'436||EUR 1'380 + 0,3% of sum which exceeds EUR 142'287||EUR 854||EUR 498|
|EUR 711'436 - 1'422'872||EUR 3'087 + 0,2% of sum which exceeds EUR 711'436||EUR 1'280||EUR 711|
|Virs EUR 1'422'872||EUR 4'510 + 0,1% of sum which exceeds EUR 1'422'872||EUR 2'134||EUR 1'067|
|IN CLAIMS that are not related to property or are not to be evaluated||EUR 213||EEUR 213||EUR142|
**The sum of a claim is:
- in claims for debt recovery - the sum to be recovered;
- in claims for property reclamation - value of the claimed property;
- in claims for pre-term termination of tenancy and lease agreement - a total sum for the remaining term of agreement, but not more than for three years;
- in claims for termination of a deal or declaring it invalid - debatable sum of the deal;
- claims for property rights on immovable property - its value, but not less than its cadastral value;
- in claims consisting of several independent property claims - a total sum of all the claims
In accordance with the Law On Value Added Tax the VAT of 21% shall be applied to the total amount of the arbitration expenses (administrative expenses and arbitrator's fee).
- The party which wishes that the session of the Arbitral Tribunal is recorded shall pay to the Arbitration Court the fee for services of the secretary in the amount of 71 EUR (+ 21%). If the session of the Arbitral Tribunal lasts longer than three hours, the fee for services of the secretary shall be established on the basis of the rate of 21 EUR (+ 21%) per hour, which shall be paid to the Arbitration Court in addition.
- The fee for services of the translator is determined on the basis of the schedule of fees presented by the sworn translator, translator or translation agency.
- The fee for services of the expert is determined on the basis of the schedule of fees presented by the expert, expert office or other organisation which issues the expert's opinion.
- The travel and accommodation expenses of the arbitrator shall be determined on the basis of invoices and supporting documents submitted by the arbitrator.
* For making of a copy of an archive file, namely the file which consideration is finished with an arbitration resolution, including additional copies of the arbitration resolution, must be paid LVL 0.28 EUR + 21% VAT per page.
The arbitration expenses shall be payable to the account No. LV39HABA0001408038621 of society “Riga International Arbitration Court” reg. Nr. LV40003268219 with JSC Swedbank, SWIFT: HABA LV22.
Palasta str 10, Riga, Latvia
- Monday 10:00-13:00 and 14:00-16:00
- Tuesday 10:00-13:00 and 14:00-16:00
- Wednesday 10:00-13:00 and 14:00-16:00
- Thursday 10:00-13:00 and 14:00-16:00
- Friday 10:00-14:00
Legal expenses of the Riga International Arbitration Court are substantially lower than the court fees of the state’s courts of law and there are no expenses for appeals and the Supreme Court of Cassation needed.
Arbitration Court has an extensive list of arbitrators, consisting of highly competent professionals.
Arbitration Court settles any disputes with no unnecessary delay - within a period between a month and 3 months, depending on the complexity of a case.