In this article, the authors propose that the ‘pay as you go’ principle should be better utilised by arbitral tribunals when awarding costs in relation to substantive and/or procedural applications arising during the course of arbitrations. In particular, it should be deployed, in preference to reserving costs until the end of the arbitration. The article is neither claimant- nor respondentbiased but is written in the interests of the most important users of arbitration: the parties, not arbitrators or counsel.