ICC to publish guidelines for reducing time and costs in arbitration | Practical Law
In 2005 the ICC Commission on Arbitration created a Task Force to identify ways of effectively reducing time and costs in arbitration, particularly in complex cases. Even where parties agree to arbitrate under institutional rules, those rules will rarely set out detailed procedures for the conduct of the arbitration, for example in relation to document production, exchange of witness statements, expert reports and briefs. Whilst this flexibility allows the procedure to be tailor made to suit each dispute, it is important for the parties to identify and agree on the most suitable procedures as early as possible in the arbitration.