|
 |
| NEWSLETTERS |
| Newsletter |
| |
| Arbitration |
| |
 |
Modifications to the ICC Arbitration Rules
December 01, 2016 |
|
| Modifications to the ICC Arbitration Rules |
|
|
On 04 November 2016 the International Court of Arbitration of the International Chamber of Commerce (the “Court”) announced
important modifications to its Arbitration Rules.
The news referred mainly to the inclusion of rules for an expedited procedure, applied automatically to arbitrations with an amount in dispute under US$2’000,000.00 and with the possibility of being used in arbitration of a greater amount if the parties agree on their applicability.
Among the main characteristics of these new rules we point out
the following:
- In all cases, the dispute will be settled by a sole arbitrator.
- The dispute shall be settled no later than 6 months after the
date in which the management conference for the organization of the arbitration takes place, with extension granted only in limited and justified circumstances.
- There will be no Terms of Reference (signature document
in arbitrations under this institution, which summarizes the
position and claims of the parties, as well as the issues at
hand).
- The arbitral tribunal will have the discretion to decide the
case relying solely on documents, i.e., without a hearing,
without any production of documents and no examination of
witnesses.
- The administrative fees will be greatly reduced.
The president of the Court, Alexi Mourre considers that these rules shall contribute in the expeditious and cost-effective resolution of disputes, and that their modification answers effectively to legitimate concerns of the business community.
As for the rest of the modifications, it is worth to note, among
others, that the period for establishing the Terms of Reference has been reduced to half, and that it is now provided that the Court shall provide reasons to its decisions on jurisdiction, challenges and consolidations, measures which increase transparency and accountability towards their users.
The new rules will enter into force in 1st March 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTANT: The information contained herein is of general nature
and for informative purposes only. Please consider that the
information herein stated does not refer to the circumstances of any individual or entity. We strongly recommend not taking any action based solely on this information without the professional assistance of our lawyers. |
|
|
|
Our Arbitraje Practice Team can gladly support you in the following topics:
|
- Early-case handling
- Implementing Alternative Dispute Resolution proceedings into Contracts or in already existing operations
- Assistance in Negotiations
- Assistance and representation in Mediation and/ or Arbitration
|
- Assistance and representation in Mediation and/ or Arbitration
proceedings
- Arbitrator and Mediator
|
| << Back |
|
Archivo PDF |
|
|
|
