The International Court of Arbitration (the “Court”) of the International Chamber of Commerce (the “ICC”) 2021 rules offer efficient, transparent, neutral and virtual arbitrations to ensure that the arbitrations are conducted in compliance with the fundamental principals worldwide.
ICC Court President Alexis Mourre said:
"undefined"The amendments to the Rules … mark a further step towards greater efficiency, flexibility and transparency of the Rules, making ICC Arbitration even more attractive, both for large, complex arbitrations and for smaller cases
- Article 7(5) joinder of additional parties - A party wishing to join an additional party to the arbitration shall submit its request for arbitration against the additional party
- Article 11(7) enhanced transparency - In order to assist prospective arbitrators and arbitrators in complying with their duties under Articles 11(2) and 11(3), each party must promptly inform the Secretariat, the arbitral tribunal and the other parties, of the existence and identity of any non-party which has entered into an arrangement for the funding of claims or defences and under which it has an economic interest in the outcome of the arbitration.
- Article 12(9) disregard unconscionable arbitrations - Notwithstanding any agreement by the parties on the method of the constitution of the arbitral tribunal, in exceptional circumstances the Court may appoint each member of the arbitral tribunal to avoid a significant risk of unequal treatment and unfairness that may affect the validity of the award.
- Article 13(6) ensure neutrality - Whenever the arbitration agreement upon which the arbitration is based arises from a treaty, and unless the parties agree otherwise, no arbitrator shall have the same nationality of any party to the arbitration.
- Article 17(2) protection of integrity - The arbitral tribunal may once constituted and after it has afforded an opportunity to the parties to comment in writing within a suitable period of time, take any measure necessary to avoid a conflict of interest of an arbitrator arising from a change in party representation, including the exclusion of new party representatives from participating in whole or in part in the arbitral proceedings.
- Article 26(1) virtual hearing - The arbitral tribunal may decide, after consulting the parties, and on the basis of the relevant facts and circumstances of the case, that any hearing will be conducted by physical attendance or remotely by videoconference, telephone or other appropriate means of communication.
- Article 29(6) The Emergency Arbitrator Provisions shall not apply if: the arbitration agreement under the Rules was concluded before 1 January 2012; the parties have agreed to opt out of the Emergency Arbitrator Provisions, or the arbitration agreement upon which the application is based arises from a treaty.
The above rules have complimented to the already existing system of ICC and make arbitration the ideal dispute resolution mechanism for all sorts of disputes across jurisdictions.
Webnyay's Resolve Virtually platform can be used by the parties to resolve their disputes online in a manner that complies with the ICC Arbitration Rules.
