March 11, 2012
On September 16, as part of a movement by arbitral institutions around the world to deal with growing criticism that the international arbitration system has become to Americanized, too costly and too slow, the International Chamber of Commerce (ICC) has amended its rules.
"There are still open questions in determining who are the right parties to an arbitration," says John Terry. "But at least there is now a mechanism for making that determination and avoiding multiplicity of proceedings."
Article 29 also provides for the appointment of an emergency arbitrator where a party requests urgent relief. The request can be made at any time before a tribunal has been appointed, but the order of an emergency arbitrator does not bind the tribunal, which has the power to modify or annul it. "The emergency arbitrator proceedings could be the most practical and helpful innovation in the new rules," Terry says.
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