Out-Law News 2 min. read
13 Sep 2011, 3:28 pm
The International Chamber of Commerce (ICC) rules (83-page / 3.5MB PDF) also incorporate amicable dispute resolution (ADR) procedures to provide a "holistic" approach, according to the document.
The ICC is an international business organisation covering thousands of member companies in over 130 countries. Its rules are available in several languages and can be used by parties in any part of the world in proceedings conducted in any language and subject to any rules of law.
The organisation also assists in the resolution of disputes on application to the International Court of Arbitration or the International Centre for ADR.
Arbitration is a system of formal dispute resolution for a final and binding decision from a neutral arbitral tribunal. ADR aims to facilitate the negotiation of a settlement with the aid of an independent neutral party.
The new version of the rules takes into account recent developments in practice and procedure to ensure the arbitration process is conducted in an "expeditious and cost-effective manner", the ICC said. The new rules also take into account developments in information technology since the previous version of the rules was published in 1998.
Additions to the rules include provisions to address the increasing number of disputes involving multiple contacts and parties, updated case management procedures, the procedure for appointing an emergency arbitrator to order urgent action and changes to how disputes arising under investment treaties and free trade agreements are handled.
Speaking from the ICC's launch conference in Paris Virginie Colaiuta, an international arbitration specialist at Pinsent Masons, the law firm behind Out-Law.com welcomed the new rules.
"The interesting thing is that they consolidate the policies that were already being followed by the ICC International Court of Arbitration. This was done in order to promote transparency. The existence of an established written policy creates certainty which is good not only for the court itself but also for the users of the rules, particularly in multi-party arbitrations," she said.
"There are though some disadvantages. The lack of a written policy gave the previous rules a certain flexibility. Consolidating this policy may make it harder and slower for the rules to evolve in future. It would be necessary to have a new codification to adopt future changes instead of changing internal policies."
A written policy also creates the potential for "interpretation problems", she said.
"It will be interesting to see how national courts will refer to the new ICC Rules to enforce or annul arbitral awards in relation to consolidation of arbitral proceedings and multiparty arbitration, for example, in future," she said.
"It is one of the principal aims of the International Court of Arbitration to ensure that its rules promote efficiency in the arbitral process and that they reflect current practice, consistent with the overriding objective of doing justice between the parties. The 2012 Rules of Arbitration respond to today's business needs while remaining faithful to the ethos, and retaining the essential features, of ICC arbitration," said John Beechey, Chairman of the ICC International Court of Arbitration, in a statement.
The rules are published in a booklet that also includes new ICC ADR rules, which provide for mediation and other forms of amicable dispute resolution.
This second set of rules will be administered by a new ICC International Centre for ADR which will handle mediation, conciliation and other less formal dispute resolution procedures.
