To Make a Long Story Short: Saving Time and Costs in Fast Track ICC Arbitration

08/09/2017

The Arbitration Rules of the International Chamber of Commerce are the latest international arbitration rules to implement the introduction of expedited arbitration procedures. The ICC Arbitration Rules of 2012, as amended in 2017, came into effect on 1 March 2017 (the “ICC Rules”). While the reforms of the ICC Rules in 2012 also addressed arbitration users’ concerns about the time and costs of arbitration, including by proposing case management strategies, these did not include expedited arbitration procedures. Since then the case for fast track arbitration continues to gain traction and a number of other international arbitration rules have introduced mechanisms to further promote efficiency and costs savings for parties through expedited or fast track arbitration where appropriate. The ICC’s expedited arbitration procedure is a welcome development but also raises a number of practical considerations for ICC arbitrations users.

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Saving-Time-and-Costs-in-Fast-Track-ICC-Arbitration.PDF

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