Eco Oro Minerals Corp C.EOM

RE:RE:RE:RE:RE:RE:RE:Submission on Costs

[sailor8]

Quote: "

Cost Submissions - UNCITRAL Arbitration

In most cases, advance payments for costs of the Tribunal and ICSID fees and expenses are requested in equal parts from the parties and the Tribunal decides on the allocation of costs in the award.  Unless the parties agree otherwise, a Tribunal can allocate the cost of any part of the proceeding at any stage under the 2013 UNCITRAL Arbitration Rules, without prejudice to its final decision on costs in the award (see Article 40 of UNCITRAL Arbitration Rules of 1976 and Article 42 of the 2010 and 2013 Rules).

At the end of the proceeding, the parties are invited to file statements or submissions on costs. A statement of costs lists the costs incurred by a party, including the costs of its legal representation, while a submission on costs also contains a party’s arguments on how and by whom the costs should be paid.

In principle, the costs of the arbitration are to be borne by the unsuccessful party. However, the Tribunal may decide otherwise, if it determines that a different apportionment is reasonable. "
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source: https://icsid.worldbank.org/procedures/arbitration/uncitral/cost-submission#:~:text=At%20the%20end%20of%20the,the%20costs%20should%20be%20paid.