Costs in the Arbitration Process: the Problem of Foreclosure

K.V. Semin Costs in the Arbitration Process: the Problem of Foreclosure This graduate paper is aimed at considering institute of legal costs, its characteristics and composition, value and place in the arbitration process. The main objectives of the paper are: a) consideration of the main approaches to the definition of costs and expenses; b) an analysis of the role and importance of the Institute of legal costs in the modern arbitration process; c) study the concept of «state duty» and «judicial costs» on the basis of judicial practice, legislation and doctrine. To analyze the main features of these institutes; d) study the problem of reducing legal costs in the arbitration process; e) study of the process of recovery of legal costs after consideration of the case by the court. The paper consists of an introduction, three chapters, a conclusion and a bibliography. Based on this research the following conclusions were made: firstly, institute of legal costs helps the parties in good faith to build relationships, build partnerships, solving disputes out of court, thereby relieving the arbitration courts of the Russian Federation; secondly, It proposed to introduce an accelerated and simplified procedure for the consideration of the same type of simple cases; thirdly, author’s version of p. 7 of article 110 of the Arbitration Code proposed for the settlement of the scope of legal costs for payment services representatives; fourthly, reimbursement of the costs of third parties without their own claims, is a necessity; fifth, is proposed to create a rule similar to the Belgian Law, which establishes the basic, minimum and maximum sizes exacted judicial costs. Academic Supervisor: Margarita Pavlova, C.J.S. lecturer of the Department of the Judiciary, Faculty of Law, National Research University “The Higher School of Economics”.