Linnea Ignatius

First Paragraph

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.



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