Revised ICC Arbitration Rules

The International Chamber of Commerce (ICC) has released revised arbitration rules, which are expected to become effective from 1 January 2021 and apply to arbitration proceedings commenced after that date. The Revised Rules can be found here. The previous two revisions to the ICC Rules were in 2017 (see our comments here) and 2012 (see our comments here).

The Revised Rules, which are intended to provide “further steps towards greater efficiency, flexibility and transparency,”1 cover a wide range of issues and include a number of new provisions. Among other changes, the Revised Rules address joinder and consolidation of multi-party arbitrations; remote hearings and the use of technology; equality in the constitution of a tribunal; disclosure in third-party funding arrangements; nationality and emergency arbitration for treaty-based arbitrations; powers of the tribunal where there is change in party counsel/representation; and the monetary threshold for expedited arbitrations.

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New Amendments to ICC Arbitration Rules Will Save Time and Money

In an important development for businesses engaged in cross-border transactions, the International Chamber of Commerce has amended its arbitration rules effective January 1, 2021. The amendments are designed to increase the efficiency, flexibility, and transparency of ICC arbitrations, while largely maintaining the core provisions that have made the ICC one of the most popular international arbitration institutions in the world. As a result, ICC arbitration may be an attractive option for parties who may have previously viewed ICC proceedings as too slow and expensive.

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Arbitral rules - The season of change continues: ICC Arbitration Update

On 1 December 2020, the ICC International Court of Arbitration launched its revised ICC Arbitration Rules (the “Rules”), which will apply to arbitrations submitted to the ICC Court from 1 January 2021. Although the revised Rules do not represent wholesale change, the Rules do aim to provide for greater efficiency, flexibility and transparency in arbitrations conducted under the Rules. Some of the themes are also present in the updated LCIA Rules 2020 and in the forthcoming updated Rules anticipated from the Singapore International Arbitration Centre (“SIAC”).

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The first-ever digital 18th ICC Miami Conference on International Arbitration

The long-standing event, which this year was held online due to the impact of the Covid-19 pandemic, has grown significantly since it launched 18 years ago and is an unmissable event in the international arbitration calendar, not only in Latin America, but in the US and Europe.

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