Publication: In Pursuit of Efficiency: An Analysis of the Expedited Procedure under the ICC Rules 2021
Publication: In Pursuit of Efficiency: An Analysis of the Expedited Procedure under the ICC Rules 2021
In the 2015 and 2018 International Arbitration Surveys conducted by the School of International Arbitration at Queen Mary, University of London in partnership with White & Case, respondents consistently ranked “lack of speed” as one of the top four most unfavourable aspects of international arbitration. In response to this concern, and in light of the escalating costs of arbitration, several leading arbitral institutions, including the International Chamber of Commerce (the “ICC”), have introduced expedited procedure provisions into their rules.
The ICC Expedited Procedure, for example, offers a simplified and efficient approach to resolving specific disputes, presenting a more cost-effective alternative to traditional arbitration. In this article, our Senior Associate, Ayodele Ashiata Kadiri, and Associates, Owen Umeh, Ayomide Abiodun, and Oluwatosin Jinadu, provide an analysis of the ICC Expedited Procedure provisions (the “Provisions”). They also identify potential unintended consequences of the Provisions and propose solutions where appropriate.
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The ICC Expedited Procedure, for example, offers a simplified and efficient approach to resolving specific disputes, presenting a more cost-effective alternative to traditional arbitration. In this article, our Senior Associate, Ayodele Ashiata Kadiri, and Associates, Owen Umeh, Ayomide Abiodun, and Oluwatosin Jinadu, provide an analysis of the ICC Expedited Procedure provisions (the “Provisions”). They also identify potential unintended consequences of the Provisions and propose solutions where appropriate.
Read here - https://Inkd.in/dDEzbsDh
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