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, […]
Disclosure of Third-Party Funding in International Arbitration
The disclosure of third-party funding is becoming increasingly common in international arbitration proceedings. This is reasonable, as the fact that there is an outside influence on the case affects the decision-making process and impacts issues such as transparency, impartiality, independence and conflicts of interest. For instance, if a third-party funder has a conflict of interest […]
The Seat of Arbitration in International Commercial Arbitration
The seat of arbitration (also known as the place or locale) is one of the most important factors to take into consideration when drafting international arbitration clauses in a contract and is often confused with the venue of the arbitration, which is not the same thing. The choice of the seat of arbitration can have […]
Aceris Secures USD 19 Million ICC Arbitration Award for North American Client, Wards Off USD 131 Million in Counterclaims
Aceris Law has secured another highly favourable international arbitration award, obtaining an arbitration award in excess of USD 19 million on behalf of a North American client, while warding off counterclaims in excess of USD 131 million. The final award in the ICC arbitration was rendered in October 2017. It concerned an engineering, design, procurement […]
ICC Arbitration Clause
By including an ICC Arbitration Clause in a contract, the parties agree that their dispute will be resolved by arbitration and that the arbitration proceedings will be governed by the procedural rules in the ICC Rules of Arbitration, in addition to any mandatory rules at the seat of arbitration. This also implies that the International […]