It has been 12 years since the ICSID Arbitration Rules’ latest update. ICSID Arbitration Rules draft amendments were published earlier this month. One of the overall goals of the amendments is to increase efficiency. Another is to increase transparency, especially with respect to third-party funding. These amendments may constitute the most significant changes made to […]
Correction of Arbitral Awards in ICC Arbitration
To err is human, so the ICC Arbitration Rules provide for a special mechanism aiming to correct errors in arbitral awards. The correction of arbitral awards in ICC Arbitration is governed by Article 36 of the 2017 ICC Arbitration Rules, which reads: “Article 36: Correction and Interpretation of the Award; Remission of Awards 1) On its own […]
Interim Measures by Emergency Arbitrators under the SCC Arbitration Rules
The SCC Arbitration Rules, as well as other leading arbitration rules, allow parties to an arbitration agreement to obtain interim measures in an expedited manner, even before an arbitral tribunal is in place, by appointing an Emergency Arbitrator (Appendix II to the SCC Arbitration Rules, Article 1(1)). After the decision on interim measures is rendered, […]
Damages in Investment Arbitration
The recovery of damages in investment arbitration is a multi-layered and complex issue. You do not need to be an expert, however, to understand the most important concepts. Introduction and Basic Principles The root of all claims for damages under public international law is the Chorzów case. In it, the Permanent Court of International Justice (the predecessor […]
Small Claim Arbitrations
Arbitration institutions have attempted to adapt their arbitration rules in order to be more appropriate for small claim arbitrations by reducing the costs and the time of arbitration proceedings. The ICC Arbitration Rules applicable as of 1 March 2017 confirm this trend by introducing special rules for claims below USD 2 million. According to the ICC Court, […]