This article examines the new Austrian arbitration law and its provisions concerning arbitration costs contained in Part Four of the Austrian Code of Civil Procedure. The article examines the provisions for their viability in practice, and is structured to follow the time flow of proceedings. The article discusses the advance on costs, which as a rule are demanded before the commencement of the proceedings. It continues to debate the security for costs that may be demanded before or during the proceedings. The article then discusses the final decision upon the payment of costs, which is not made before the termination of the proceedings.