January 1, 2012 will bring large changes for the arbitration community. The newly revised International Chamber of Commerce (hereinafter ICC) Rules of Arbitration will take effect, addressing over a decade of shifts in the arena of international commercial arbitration. The changes reflected in the new Rules have three principal objectives: (1) adapting the rules to address the growing complexity of disputes and the increasing need for urgent interim remedies in business disputes; (2) reducing time and costs in arbitration; and (3) making the rules more flexible for use in investment arbitration. Procedural matters have seen a fair amount of change, molding the rules to accommodate the growing complexity of international business disputes. Seemingly, the more bureaucratic nature of the ICC process has remained untouched.
Linnea Ignatius, A Decade and Some Change: A Look into the New 2012 ICC Rules of Arbitration, 4 420 (2012).