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Selecting
the arbitration option and including the clause in the contract is a free
service. If the dispute arises and one of the parties wishes
to initiate the arbitration process, the reduced rate which Translationtown
has obtained for its users would apply. This rate is payable to the WIPO
Center, not to Translationtown.
Reduced rate:
There are
three types of costs for the services of the WIPO Arbitration and Mediation
Center: the registration fee, administration costs and the fees of the
arbitrator. The Center's
standard rates are summarized as follows:
Registration
fee: a minimum of $1,000, which increases according to the amount in dispute.
Administration charge: $1,000 minimum, which increases according to the
amount in dispute.
Translationtown
offers its users the opportunity to enjoy the same rates for a fixed lump
sum cost of $200 for each of the two elements, regardless of the sum in
dispute, and this is payable to the Center - instead of the minimum $2,000.
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