The International Chamber of Commerce (ICC) Court of Arbitration does not itself decide cases, but supervises the arbitration proceedings. Rather, the decisions are rendered by independent arbitrators chosen by the parties.
You do not have to be a member of the ICC. You may simply agree in your contract to use the ICC and to resolve any disagreements that may arise under the ICC arbitration rules.
No, parties are free to choose the country where they will have their ICC arbitration. You are free to hold your arbitration anywhere in the world. Parties are also free to choose in what language their arbitration will be conducted. English is a popular choice, but so are some other languages.
The ICC arbitration rules may be used for any kind of business dispute irrespective of what business or industry you are in.
The ICDR is the international arm of the AAA and administers all of its international arbitrations. You can use the ICDR to arbitate your dispute no matter where in the world it happened.
The answer is "no" to both questions. Both the AAA and ICDR are neutral private organizations that are impartial. The ICDR administers arbitrations held under its arbitration rules for parties of all kind of nationalities around the world.
No, the arbitration will be conducted in accordance with the AAA arbitration rules the parties included in their contract and with whatever other law that was selected.
LCIA arbitration offers a combination of the best features of the civil and common law systems, including in particular:
Maximum flexibility for parties and arbitrators to agree on procedural matters;
Speed and efficiency in the appointment of arbitrators;
Procedures to reduce delays and counteracting delay tactics;
Arbitrators' power to decide on their own jurisdiction; and
Costs computed without regard to the amounts in dispute.
Where you want your arbitration to be held is up to you and your contracting party to agree. It may be anywhere in the world. and you do not need to be a member of the LCIA to resolve your dispute through an LCIA arbitration.
Open to The Public?
No, it is not. LCIA arbitrations are private and confidential.
It means that the parties have chosen the UNCITRAL arbitration rules to apply to their arbitration. Other than the LCIA, ICC, ICDR, AAA or a number of arbitration courts and organizations, UNCITRAL does not itself administer arbitrations or get involved with individual cases.
Some parties believe that ad hoc arbitrations under the UNCITRAL rules are less expensive because the proceedings are administered by the arbitrators themselves rather than using the additional services (and costs) of an arbitral organization.
Any party may agree to use them irrespective of their nationality. Because they carry the imprimatur of the United Nations, and are not associated with any particular arbitration institution located in a particular country or part of the world, many parties regard a choice to apply the UNCITRAL rules as impartial and politically neutral.
It stands for the International Centre for Settlement of Investment Disputes (ICSID) and is an institution that facilitates and provides a procedural framework for the arbitration of disputes between investors and sovereign states. The ICSID Convention establishes an autonomous and self-contained system for the conduct of such proceedings.
Investors who meet the essential jurisdictional conditions for access to arbitration under the ICSID Convention may resort to ICSID. Certain criteria must be satisfied: the dispute must be between an ICSID Contracting State and an individual or company that qualifies as a national of another ICSID Contracting State, the legal dispute must arise directly out of an investment, and the disputing parties must have consented in writing to the submission of their dispute to ICSID arbitration.
Arbitration under the ICSID Convention is entirely voluntary, but once the parties have given their consent, neither may unilaterally withdraw it. Moreover, an arbitral award rendered under the Convention may not be set aside by the courts of any Contracting State, and is only subject to the post-award remedies provided for in the Convention. For investors, it is often the only recourse against the foreign country in which they invested.
Formally known as IBA Rules on the Taking of Evidence in International Arbitration, they are a set of evidentiary rules formulated by the International Bar Association (IBA) that parties may, but do not have to, adopt for use in their arbitration. The parties are free to adopt the rules in whole or in part and to agree on modifications.
You do not "need" the evidence rules, but they may be helpful because "arbitration rules" generally do not include evidence rules, so that without the IBA Evidence Rules, often nothing has yet been agreed upon in this regard.
No, they do not. The IBA Evidence Rules were formulated after careful deliberation and public consultation with a large number of lawyers from around the world and attempt to strike a balance that appeals to lawyers and parties around the world, irrespective of their particular nationality or legal background. The Rules have recently been updated.
Copyright © 2017 Connon Wood LLP