Following the release of the ICC’s new 2021 Arbitration Rules in draft on 9 October 2020, Craig Tevendale (Partner and UK Head of International Arbitration), Thierry Tomasi (Partner) and Vanessa Naish (Professional Support Consultant) have recorded a podcast discussing the top 5 changes to be aware of in the new Rules, being:
- Amendments to the consolidation provision, and to the joinder provision to allow for joinder after the confirmation or appointment of a tribunal in certain limited circumstances;
- Provision for virtual hearings and a shift away from paper filings;
- Allowing for the Tribunal to limit changes to party representation where it causes conflicts of interest;
- A requirement that parties disclose certain third party funding agreements; and
- ICC Court discretion in “exceptional circumstances” to deviate from party agreement on the method of constitution of the arbitral tribunal and appoint the entire tribunal to avoid unequal treatment.
Once the 2021 Rules have been confirmed as “final”, Herbert Smith Freehills’ Global Arbitration Team will produce a updated Step by Step Guide to Arbitration under the ICC Rules and an interactive PDF table comparing the Rules of Key Arbitral Institutions and the UNCITRAL Rules. To receive an electronic copy of these documents in due course, please contact firstname.lastname@example.org and we will be in touch in December.
For more information, please contact Craig Tevendale, Partner, Thierry Tomasi, Partner, Vanessa Naish, Professional Support Consultant, or your usual Herbert Smith Freehills contact.