International Arbitration Damages Study

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March 2024

In 2015 we first started looking at publicly available international arbitration awards to understand how claimants, respondents, and tribunals approach the assessment of damages in matters taken to international arbitration. We updated that research in 2017, and are now pleased to present this additional update, which covers awards from 1990 to 2022.

A consistent and continuing trend is the disparity between damages claims put forward by claimants and the corresponding damages calculations put forward by respondents. While this, in part, may be due to the nature of the claims in the sample (i.e. claims that have proceeded to a hearing and award stage rather than settling beforehand), it highlights the challenges for tribunals in reaching a final damages award when such a broad range is presented to them.