Damages awards in international commercial arbitration

Expert’s arms race, splitting the baby, the gender gap and more. Learn more about the recent trends and myths in awarding damages in international commercial arbitration.

PwC and Queen Mary University of London prepared a study of ICC awards examining the recent trends in the award of damages in commercial arbitration. The results of the study are based on the analysis of 180 awards from ICC arbitration proceedings, out of which 284 separate heads of claim or counterclaims were analysed.

The aims of the study were to discuss the gap between claimants’ and respondents’ assessment of damages, point out the most frequent criticisms from Tribunals and suggest potential steps to be taken to improve diversity amongst expert witnesses and arbitrators.

Read more about the most common pitfalls that draw Tribunal criticism of Claimants, and their experts, such as inadequately substantiated damages claims, wrong or unconvincing assumptions and speculative claims.