ICC’s New 2021 Arbitration Rules
The selection of arbitration rules is an important, but often uninformed and somewhat random decision. There are a host of reasons that differentiate one set of arbitration rules from another, including cost effectiveness, efficiency, and transparency. The ICC recently released its 2021 Arbitration Rules, which further cost effectiveness, efficiency, and transparency. These new rules are a step in the right direction and should be considered when proposing and selecting arbitration rules.