Legal Update: The New ICC Arbitration Rules 2021 Comes With Noteworthy Upgrades - Litigation, Mediation & Arbitration
The International Chamber of Commerce ( "ICC") has come up with new set of Arbitration Rules 2021 ( "ICC Rules 2021") which will come in effect from 01 st January, 2021. As compared to the earlier Arbitration Rules of 2017 ( "ICC Rules 2017"), it seems that ICC Rules 2021 is not a complete revamp of the procedural rules for conducting arbitration. Rather, it preserves a substantial portion of the ICC Rules 2017 while introducing provisions that indicate towards ensuring more efficient adjudication of disputes. The ICC Rules 2021 lays more emphasis on adopting fair procedure and have further b...