In ICC arbitration, usually upon receipt of the Answer on the Request for Arbitration or the expiry of the time limit for it[1], the Parties are required to pay an advance on costs. This payment is paramount “for the purpose of securing in advance the financial resources necessary for carrying out the arbitration procedure.”[2] The advance […]
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 […]
International Arbitration Data 2018: Popularity, Flaws, Diversity and Access to Information
Attention to international arbitration data and metrics is a recent phenomenon. In a recent annual survey, users identified new areas of development that will be at the center of debate for the foreseeable future. International Arbitration Data: Measured Popularity and Flaws The Pros 97% of respondents support arbitration as the preferred method for cross-border disputes. There is […]
Aceris Law Publishes Guide to Arbitration in France
Aceris Law, an international arbitration boutique, has recently published a guide to arbitration in France for 2018, which is available at the following link:https://www.acerislaw.com/arbitration-france/ Written by the international arbitration lawyer William Kirtley and Marie-Camille Pitton, the guide, published in Getting the Deal Through, provides an overview of most legal issues concerning arbitration in France and Paris, the […]
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, […]