Comparative Guides
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Results: 4 Answers
International Arbitration
10.
Costs
10.1
How will the tribunal approach the issue of costs?
 
Greece
Reimbursement of fees and costs incurred may be subject to the arbitration agreement. In the absence of agreement between the parties, the tribunal will decide based on:

  • the claims;
  • the duration and complexity of the proceedings;
  • the evidence presented; and
  • the outcome.

Hence, it may order each party to bear its own costs, divide the costs proportionally or apply the ‘loser pays’ rule.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
10.2
Are there any restrictions on what the parties can agree in terms of costs in an arbitration seated in your jurisdiction?
 
Greece
Greek legislation imposes no specific restrictions in this regard, but the general principles of the law of contracts apply.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP