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often believed, most international arbitration cases are resolved through direct settlement between the Parties, or are withdrawn, with relatively few proceeding to a final oral hearing.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 […]
The ICC Arbitration Clause – International Chamber of Commerce
By including an ICC Arbitration Clause in a contract, the parties agree that their dispute will be resolved by arbitration and that the arbitration proceedings will be governed by the procedural rules in the ICC Rules of Arbitration, in addition to any mandatory rules at the seat of arbitration. This also implies that the International […]
Escalation Clauses in the ICC Mediation Rules
On 1 January 2014, the Mediation Rules of the International Chamber of Commerce came into force (ICC Mediation Rules), thereby replacing ICC’s Amicable Dispute Resolution Rules. While arbitration under the ICC Arbitration Rules leads to a binding decision from an independent and neutral tribunal, the ICC Mediation procedure seeks to help the Parties reach a […]