(1) The parties to an arbitration agreement may make such provision as to the costs of the arbitration as they see fit.

(2) An agreement of the parties to arbitrate subject to the rules of an arbitral institution shall be deemed to be an agreement to abide by the rules of that institution as to the costs of the arbitration.

(3) Where no provision for costs is made as referred to in subsection (1) or where a consumer is not bound by an agreement as to costs pursuant to subsection (6), the arbitral tribunal shall, subject to subsection (4), determine by award those costs as it sees fit.