ICC announces modifications to practice note on conduct of arbitration
The International Court of Arbitration of the International Chamber of Commerce (ICC) has announced amendments to its practice note to the parties and arbitral tribunals on the conduct of arbitration.
Adopted during a meeting of the Bureau of the Court in New York City which took place on 13 September, the modifications pertain to day-to-day case administration including the incorporation of provisions concerning additional administrative services provided by the Court, and to the conclusion of Terms of Reference and the rendering of awards.
Modifications include the addition of a section covering new areas where the Court’s Secretariat may provide parties and tribunals with assistance and a more systematic approach to the services it currently offers, including ICC administered accounts for the deposit of funds (VAT, expert accounts, escrow accounts).
ICC stands ready to assist parties and tribunals with mediation and expertise procedures, and crime and transparency measures.
“The modifications ensure that ICC Arbitration users get the very best service possible and highlight the range of services provided by the Secretariat that exceed traditional case management services offered by other institutions. These range from the Secretariat acting as depositary of documents to providing services or assisting in organising hearings and meetings around the globe. In addition, ICC stands ready to assist parties and tribunals with mediation and expertise procedures, and crime and transparency measures,” said Court President Alexis Mourre.
The revised practice note also includes enhancements relating to the signing of Terms of Reference and awards in counterparts and in electronic form, providing ICC Arbitration users with an option to accelerate the establishment of Terms of Reference and the notification of arbitral awards.
Modifications to the ICC practice note to the parties and arbitral tribunals on the conduct of arbitration are the latest measures implemented by the world’s leading arbitral institution to improve transparency and predictability of the arbitration process in response to users’ needs and the development of international arbitration.
Click to download the amended ICC practice note to the parties and arbitral tribunals on the conduct of arbitration.