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Appropriate control of time and cost is important in all cases This amendment of article 22 (2) icc arbitration rules (icc rules) emphasizes the icc’s support for proactive case management by arbitral tribunals and strikes a balance between party autonomy and procedural efficiency. In cases of low complexity and low value, it is particularly important to ensure that time and costs are proportionate to what is at stake in the dispute.
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(1) where the parties have agreed to submit to arbitration under the rules, they shall be deemed to have submitted ipso facto to the rules in effect on the date of commencement of the arbitration, unless they have agreed to submit to the rules in effect on the date of their arbitration agreement. These amendments apply to all icc arbitrations to be commenced from that date, irrespective of when the underlying arbitration agreement was concluded, unless the parties have agreed to submit to the rules in effect on the date of their arbitration agreement” (article 6 (1)). Per article 6 (1), the 2021 rules will apply to arbitrations commenced as of 1 january 2021, unless the parties have agreed to submit to the rules in effect on the date of their arbitration agreement
Following our previous analysis, this post summarizes the potential impact of the 2021 rules.
Under article 10 (b) of the 2017 rules, the court may allow consolidation of two or more arbitrations pending under the icc rules where all the claims are made under the same arbitration agreement. This is one of the most significant amendments made with 2021 icc rules as this provision hinder parties to appoint their arbitrator and grants right to international court of arbitration to constitute the arbitral tribunal in exceptional cases. Arbitration under the icc arbitration rules is a formal procedure leading to a binding decision from a neutral arbitral tribunal, susceptible to enforcement pursuant to both domestic arbitration laws and international treaties such as the 1958 new york convention.
