The International Chamber of Commerce (“ICC”) has revised its arbitration rules (“ICC Rules”) effective 1 March 2017. The 2017 updates are not as comprehensive as the revision of the ICC Rules in 2012, but are intended to further increase efficiency and transparency. As discussed in the PDF download, the most noteworthy change is the introduction of “Expedited Procedure Rules” for smaller claims.
Section I summarizes the ICC's new Expedited Procedure Rules. Section II discusses other changes to the ICC Rules, including amendments intended to make it easier for the ICC Court to communicate decisions relating to the tribunal's formation and relating to the Terms of Reference. Section III compares the ICC's new Expedited Procedure Rules to the expedited procedures available under the rules of a number of other arbitral institutions and Appendix A is a chart comparing institutional rules on expedited procedure.
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