The CAM reduces arbitrators' fees in the proceedings administered according to its Rules.
The new fees enter into force from 1st January 2016 for all new arbitrations starting from such date, whereas previous fees still apply to proceedings commenced before that date.
The change involves a reduction to both the Sole Arbitrator's and the Panel of Arbitrators' fees.
It regards middle-value and high-value disputes whereas low-value disputes fees have not been changed considering their limited amount.
The average reduction of the fees is overall -15%; the reduction range is included between a minimum of -6% and a maximum of -21%, the latter being limited to the last brackets of the Schedule, such as Sole Arbitrator's fee for disputes over Eur 50.000.000.
Furthermore, likewise the CAM fees, a cap is introduced for the highest bracket of the arbitrators' schedule of fees, in order to avoid excessive or potentially unlimited payments.
The change involves both minimum and maximum amounts within the single brackets.
Moreover, emphasis has been given to the fact that the CAM grants the maximum fees only in particularly complicated cases, provided that the arbitrators have shown to be very efficient and have conducted the proceedings expeditiously.
It is undeniable that domestic and international arbitration panorama has broadly changed: although these dispute resolution methods have still a limited market, today they have to be taken into consideration.
This intervention aims to make arbitration less expensive.
It is up to the CAM to maintain a high quality standard of arbitrators' appointment. Fees reduction shall not affect the proficiency and the competence of the professionals appointed by the CAM: quality of arbitrators - as well as an adequate turn-over in the appointment and the designation of young, talented professionals - are the main features of the CAM system.
Beyond judgments. Towards solutions