The changes to the LCIA Rules, and the pending changes to the ICC Rules, reflect the desire of arbitral institutions to keep their processes current and relevant to commercial parties, even as the demands on the arbitral process change
For users of international arbitration, two important recent developments have been the revised sets of institutional arbitration rules for both (1) the London Court of International Arbitration (LCIA) which came into force for all LCIA arbitrations commenced on or after 1 October 2020, and (2) the International Chamber of Commerce (ICC) whose new 2021 Rules have received a ‘soft launch’ prior to them being finalized and brought into force on 1 January 2021.
This article considers the main changes in both sets of rules relevant to commercial users of arbitration and their counsel.
THE 2020 LCIA RULES
The 2020 LCIA Rules aim to enhance the efficiency and flexibility of the LCIA process while staying true to the LCIA’s traditional light-touch approach.
This story is from the December 2020 edition of Legal Era.
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This story is from the December 2020 edition of Legal Era.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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