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Unveiled in September 2011, the much-anticipated Rules reinforce the Court’s commitment towards an efficient and cost-effective arbitration process responsive to the interests and requirements of users worldwide, including the business community, states and state entities.
Court President John Beechey noted that the new Rules were the result of a two year review notable for the degree of consultation undertaken among members of the arbitration community and, most importantly, with commercial and state users of ICC Arbitration. That exercise, he said, had been an essential element of the review process.
“The initial reaction to the new Rules at various launch conferences, held around the world in the last quarter of 2011, was very favorable,” Mr. Beechey said. “The Court looks forward to administering arbitrations under the new Rules, which are both thoroughly up to date and retain the distinctive hallmarks of ICC Arbitration.”
Like all of ICC’s dispute resolution services, ICC Arbitration is based on a set of rules that ensures compliance with best practice across the world.
The new Rules are available, initially, in more than seven languages, consistent with ICC’s global presence. They reflect contemporary practice through the inclusion of new provisions on multi-party and multi-contract arbitrations, an ‘emergency’ service for resolving urgent issues before a tribunal is constituted, and further time and cost-efficiency measures.
“The entry into force of the 2012 Rules has been a much-anticipated date in the ICC’s calendar. It is gratifying to see this project come finally to fruition,” said Jason Fry, secretary general of the ICC Court.
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San Francisco Conference Among Several Upcoming Arbitration Events
The ICC International Court of Arbitration plans to explain the newly revised Rules at the Third Annual ICC Asia-Pacific Conference, which takes place March 8 to 10 at the Palace Hotel in San Francisco.
The conference will examine cutting-edge topics in international arbitration from the perspective of parties in the Asia-Pacific region, including: electronic document production, third-party funding, sovereign immunity, intellectual property arbitration, combined mediation-arbitration proceedings, natural resource arbitration and arbitrator selection procedures. Visit www.iccnorthamerica.org for registration and other information.
In addition, the USCIB Arbitration Committee plans two luncheon meetings for USCIB members and friends interested in arbitration. The first will be held on January 26 in Washington, DC at the offices of Arnold & Porter LLP. Special guest Jason Fry, secretary general of the ICC Court, will address ICC’s efforts in the field of investment arbitration.
The second luncheon will be held on January 30 at the New York offices of Latham & Watkins LLP. John Beechey, president of the ICC Court, and Mr. Fry will speak. The chairs of the Arbitration Committee’s regional subcommittees will also hold their annual meeting on that date.
USCIB members receive a preferential rate for both lunches. Contact Alexandra Akerly (aay@iccwbo.org) for additional information.
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