SLIDE 1
ICC releases new Rules of Arbitration
On 12 September 2011, the International Chamber of Commerce (ICC) published the much- anticipated new version of its Rules of Arbitration. The ICC Rules are among the leading institutional arbitration rules used worldwide. The widespread use of ICC arbitration in international business means that the new Rules will apply to thousands of disputes over the years to come. The new "2012 Rules of Arbitration" will replace the current Rules, published in 1998, and will apply to ICC arbitrations commenced after 1 January 2012. The Rules have been thoroughly revised and expanded, now running to 41 Rules and 5 Appendices. The principal changes include the following: The introduction of a new "Emergency Arbitrator" procedure (Article 29) applicable where a party needs urgent interim or conservatory measures before the constitution of the arbitral tribunal. The parties agree to be bound by any order made by the Emergency Arbitrator. The arbitral tribunal,
- nce constituted, may modify or annul the order of the Emergency Arbitrator. The costs of the
Emergency Arbitrator procedure are significant (an application fee of US$40,000 is payable and may be increased). Which party is to bear the costs of the Emergency Arbitrator procedure is to be decided by the Emergency Arbitrator. The procedure does not apply if the arbitration agreement was concluded before the date on which the new Rules come into force, or if the parties have opted
- ut of it.
The inclusion of new provisions on joinder of additional parties, claims between multiple parties, claims arising out of multiple contracts and consolidation of arbitrations (Articles 7 to 10). A requirement on arbitrators to be and remain both impartial and independent of the parties (and not just independent as provided in the 1998 Rules) (Article 11). In line with this broader requirement, a prospective arbitrator is required by the new Rules to sign a statement of "acceptance, availability, impartiality and independence". An obligation on both the tribunal and the parties to make every effort to conduct the arbitration in an expeditious and cost-effective manner (Article 22). This new general duty is supported by a number of specific new Rules including (i) an obligation to hold a case management conference to consult the parties on procedural measures (Article 24), (ii) a requirement on the tribunal to state, at the close of the proceedings, when it expects to submit its draft award to the ICC Secretariat for approval (Article 27(3)), and (iii) the possibility for the tribunal, when deciding on the costs of the proceedings, to take into account the extent to which each party has conducted the arbitration in an expeditious and cost-effective manner (Article 37(5)). Suggested techniques for improved case management are included in an annex to the Rules, reflecting the ICC's prior publication "Techniques for Controlling Time and Costs in Arbitration". Inclusion of a power for the tribunal to make an order concerning the confidentiality of the arbitration proceedings or other connected matters, or to take measures to protect trade secrets and confidential information (Article 22(3)). 15 September 2011
Arbitration -- International and Domestic