The International Chamber of Commerce (ICC) has launched the much-anticipated revised version of the rules of arbitration to serve the existing and future needs of businesses and governments engaged in international commerce and investments. The new rules, which will come into effect from 1 January 2012, will include current requirements and developments in arbitration practices and procedures, as well as developments in information technology, since the last revision in 1998, according to an ICC press release issued from Paris.

Approved in Mexico City by the ICC World Council in June, additions to the rules include provisions to address disputes involving multiple contracts and parties, updated case management procedures, appointment of an emergency arbitrator, and other changes to facilitate the handling of disputes arising under investment treaties and free trade agreements.

Other amendments have also been made to ensure that the arbitral process is conducted in an expeditious and cost-effective manner.
The new rules are published in a booklet that also includes the TCC ADR Rules, which provide for mediation and other forms of amicable dispute resolution. Both sets of rules define a structured, institutional framework intended to ensure transparency, efficiency and fairness in the dispute resolution process while allowing parties to exercise their choice over many aspects of procedure. John Beechey, chairman of the ICC International Court of Arbitration, said: “This is one of the principal aims of the International Court of Arbitration to ensure that its rules promote eff1ciency in the arbitral process and they ref1ect current business practices, consistent with the overriding objective of doing justice between the parties.”

The revision process began in 2008 and was undertaken by a small drafting committee of up to 20 members, supported by a wider task force of 202 members and a consultation process with ICC national committees around the world and the ICC Commission on Arbitration.

A conference in Paris on September 12 gave over 270 participants a comprehensive overview of the changes to the rules and a chance to have direct interaction with several drafting group experts.
The rules are available in several languages and are intended for use by parties in any part of the wor1d in proceedings conducted in any language and subject to any rules of law.