2021 ICC Arbitration Rules Come Into Force Friday, January 8, 2021
ICC”) launched the Revised Rules of Arbitration (“
2021 ICC Rules”), on 1 December 2020.
1 The 2021 ICC Rules enter into force on January 1, 2021. The ICC Arbitration Rules 2017 (“
2017 ICC Rules”) will continue to apply to cases registered prior to January 1, 2021.
2 The amendments in the 2021 ICC Rules are a step towards greater efficiency, flexibility and transparency in ICC arbitrations.
3
Joinder of Parties and Consolidation of Proceedings;
Disclosure of Third-Party Funding;
Provisions for Investment Treaty Arbitrations;
Remote Hearings;
Governing Law and Settlement of Disputes
We are glad to have comments and inputs from leading arbitrators, practitioners and ICC members around the world on the implications of the 2021 ICC Rules.
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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/represent
The International Chamber of Commerce
( ICC ) has come up with new set of
Arbitration Rules 2021 ( ICC Rules
2021 ) which will come in effect from 01
st
January, 2021. As compared to the earlier Arbitration Rules of 2017
( ICC Rules 2017 ), it seems that ICC
Rules 2021 is not a complete revamp of the procedural rules for
conducting arbitration. Rather, it preserves a substantial portion
of the ICC Rules 2017 while introducing provisions that indicate
towards ensuring more efficient adjudication of disputes. The ICC
Rules 2021 lays more emphasis on adopting fair procedure and have
further broadened the horizon for multi-party arbitration. It has
also made an attempt to crystallize certain provisions with an idea