(A) Unless otherwise agreed by the parties, the arbitral tribunal may award interest and costs and may allocate costs among the parties as it considers appropriate. In making an order awarding or allocating costs, the tribunal may include as costs any of the following:
(1) The fees and expenses of the arbitrators and expert witnesses;
(2) Legal fees and expenses;
(3) Any administration fees of the institution supervising the arbitration;
(4) Any other expenses incurred in connection with the arbitral proceedings.
(B) In making an order for costs, the arbitral tribunal may specify any of the following:
(1) The party entitled to costs;
(2) The party who is required to pay the costs;
(3) The amount of the costs or the method of determining that amount;
(4) The manner in which the costs are to be paid.
Effective Date: 10-23-1991