The ICC's revised set of Arbitration Rules came into effect on 1 January 2012. The new Rules codify existing practice in several areas, but also add a number of provisions intended to address the growing complexity of today's disputes, the particular features of disputes involving states and state owned entities, and demands for greater speed and cost-efficiency.
The webinar discussed the main innovations in the new Rules and the issues which should be borne in mind at the contract negotiation stage if the ICC Rules are being considered to resolve disputes.
The following topics were considered in particular:
- new provisions relating to complex multi-party, multi-contract disputes;
- the new 'opt-out' Emergency Arbitrator procedure for urgent interim or conservatory measures;
- incentives for arbitrators and parties to conduct proceedings efficiently and cost-effectively; and
- the lack of a general obligation of confidentiality.
If you would like to receive details of upcoming webinar or receive an audible download of the above webinar please contact Prudence Heidemans.