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For USD 3M with three arbitrators under DIAC 2022 Rules: institutional fees ~USD 55-75k (sliding scale on claim value), arbitrators' fees combined USD 250-400k depending on complexity, expert fees USD 80-150k, counsel fees USD 500k-1.2M for full hearing. Total realistic budget USD 900k-1.7M for a 12-month proceeding. Counsel fees dominate the budget — choose a counsel rate structure (fixed-fee phases or capped hourly) before engagement. Two-thirds of the spend is recoverable in the award if you prevail.
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On managing cost: agree on document-only or limited-witness procedures upfront to avoid the full hearing cost. DIAC's expedited procedure (for amounts under USD 1M) is not available here but a 'streamlined' bespoke procedure can be agreed to cut 4-6 months.
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