In a step aimed at supporting the business sector and the investment environment, the Saudi Center for Commercial Arbitration (“SCCA”) announces the launch of a package of enhancements to make its range services more accessible. They include, among many other things, a reduction in arbitrator fees of up to 30 percent, a 50 percent reduction in initial costs for starting most arbitration proceedings, and the flexibility for parties to now agree to a new alternative fee arrangement based on arbitrators’ hourly rates in addition to the existing ad valorem lump sum model.
This step is a result of SCCA Board of Directors approval of several amendments to Appendix I of the SCCA Arbitration Rules. The Board’s aim is to extend SCCA’s range of institutional arbitration services to a wider range of various sectors, sizes, and nationalities.
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