ICC augments transparency in scrutiny process
The International Court of Arbitration of the International Chamber of Commerce (ICC) has issued a revised practice note introducing new steps to inform parties and arbitral tribunals whether awards under scrutiny have been approved, or are subject to further scrutiny at a future Court session.
The latest amendments to the note, adopted by the Bureau of the Court on 28 June 2016 in Hong Kong — the Court’s first ever session outside Paris — also include measures to reduce administrative fees in the case of unjustified delays in the scrutiny process. While ICC had a process in place to impose financial sanctions on arbitrators in case of delay in submitting draft awards to the Court, no measures were in place in case the Court itself was the cause of the delayed scrutiny.
“The revised practice note responds directly to calls for greater transparency for parties and tribunals in relation to the arbitral process,” said ICC Court President Alexis Mourre. “The new measures ensure the Court itself becomes accountable for any delays relating to scrutiny.
“The revisions are the latest in a string of measures taken by the Court to improve transparency and predictability of the arbitration process in response to users’ needs and the development of international arbitration.
As a world leader in commercial dispute resolution, it is imperative for ICC to lead by example and take steps to improve transparency and accountability wherever appropriate.
“As a world leader in commercial dispute resolution, it is imperative for ICC to lead by example and take steps to improve transparency and accountability wherever appropriate,” Mr Mourre said.
Follow the link to download the practice note: Note to Parties and Arbitral Tribunals on the Conduct of the Arbitration