Unpaid costs in international arbitration are relatively common. Most rules of arbitral institutions provide that the parties must bear the costs of arbitration in equal shares. Difficulties may arise when one of the parties, usually the respondent, refuses to pay its share of advances on costs to cover the expenses related to the arbitration, including […]
ICC Arbitration
English Court Upholds Arbitration Award of Third-Party Funding Costs
In a decision dated 7 December 2021 in Tenke Fungurume Mining S.A. v Katanga Contracting Services S.A.S. [2021] EWHC 3301 (Comm) (“Tenke v. Katanga”), concerning a challenge under Section 68 of the 1996 Arbitration Act (the “Arbitration Act”) for serious irregularity, the English High Court upheld a 2021 London-seated, ICC arbitration Final Award, in which Tenke […]
FIDIC Dispute Resolution Mechanism
In December 2017, the Fédération Internationale Des Ingénieurs-Conseils, more commonly known as FIDIC, released a revised version of the FIDIC Conditions of Contract (Second edition)(the “2017 FIDIC Contracts”),[1] introducing some notable changes to the dispute resolution mechanism in comparison to the well-worn 1999 edition.[2] The 2017 FIDIC Contracts maintain the already well known multi-tiered approach […]
2021 International Arbitration Survey – Adapting Arbitration to a Changing World
The twelfth empirical study of the School of International Arbitration, Queen Mary University of London, in partnership with White & Case LLP, the 2021 International Arbitration Survey (“International Arbitration Survey”), explores recent trends in international arbitration and especially how international arbitration practice has adapted and continues to adapt to the global changes wrought by the […]
Provisional Measures in International Arbitration
Provisional measures can be an effective instrument to protect parties’ rights in arbitration. Although there is no widely accepted definition, provisional measures are, in general terms, remedies or relief whose purpose is to safeguard parties’ rights. In international arbitration, institutional rules are generally silent as to the standards and principles for the granting of provisional […]
Aceris Law Successfully Resolves Another ICC Construction Arbitration
Aceris Law LLC is pleased to announce that it has successfully resolved another ICC arbitration for another well-deserving client, shortly after securing a USD 34.5 million arbitration award for a different client. The arbitration, which had it seat in London, was governed by the laws of Saudi Arabia and concerned construction works related to a […]
Settlement and ICC Arbitration
Contrary to what is often believed, most international arbitration cases are resolved through direct settlement between the Parties, or are withdrawn, with relatively few proceeding to a final oral hearing. According to Dispute Resolution Data, which analyzed 3,642 international commercial arbitration cases since 2005, 58.8% of international commercial arbitration cases that were initiated were either […]
International Construction Arbitration in the Middle East
The construction industry is a leading economic sector in the Middle East, where a large number of infrastructure projects worth billions of dollars are commenced each year. Construction disputes are inevitable due to activity in the construction industry and arbitration is the preferred dispute resolution mechanism for such disputes, especially for foreign parties. Construction disputes […]
The Timing of Payment of Arbitration Advances on Costs
The payment of advances on costs in arbitration aims to ensure that an arbitral institution has sufficient funds to cover the payment of arbitrators’ fees and expenses, as well as costs incurred in the administration of arbitral proceedings. The advances on costs paid to arbitral institutions do not include party costs, such as legal fees […]
