Fees
Following information is provided in Appendix A. Fees and Costs of the KCAB International Mediation Rules.
Article 1. Filing Fee
Each Request pursuant to the Rules must be accompanied by a non-refundable filing fee of KRW 1,000,000.
However, the Secretariat may, in its discretion, exempt or reduce payment of the filing fee
where the dispute amount is below a specific amount as determined by the Secretariat.
Article 2. Administrative Expenses
1. The parties shall pay the administrative expenses of KCAB as set out below.
(Unit: KRW)
| Amount in dispute | Administrative expenses |
|---|---|
| up to 200,000,000 | 500,000 |
| over 200,000,000 to 1,000,000,000 | 1,000,000 |
| over 1,000,000,000 to 2,000,000,000 | 3,000,000 |
| over 2,000,000,000 to 10,000,000,000 | 10,000,000 |
| over 10,000,000,000 to 50,000,000,000 | 15,000,000 |
| over 50,000,000,000 to 100,000,000,000 | 20,000,000 |
| over 100,000,000,000 | 25,000,000 |
2. Where the amount in dispute is not stated, the administrative expenses shall be KRW 3,000,000.
Article 3. Mediator’s Fees and Expenses
1. Unless otherwise agreed by the parties and the mediator, the mediator’s fees are calculated on the basis of the time spent by the mediator in the mediation including his/her preparation time at the hourly rate agreed by the parties and the mediator prior to the mediation.
2. The amount of reasonable expenses of the mediator shall be fixed by KCAB.
For more information about the Mediation Costs,
KCAB INTERNATIONAL Bank Account Number:
-
KRW:
Woori Bank (SWIFT CODE: HVBKKRSE) - Trade Center Branch, Seoul, Account No. 424-05-001415
Address : 511 Yeongdong-daero, Trade Tower, Gangnam-gu, Seoul, 06164, Republic of Korea -
USD:
Woori Bank (SWIFT CODE: HVBKKRSEXXX) - Trade Center Branch, Seoul, Account No. 1081-700-282123
Address : 511 Yeongdong-daero, Trade Tower, Gangnam-gu, Seoul, 06164, Republic of Korea
*VAT excluded, if the fees are transferred from abroad to the KCAB in foreign currency.