The Australian Centre for International Commercial Arbitration (ACICA) has refreshed its ACICA Arbitration Rules (the Rules) with the aim of modernising the arbitration process and addressing contemporaneous concerns arising out of the COVID-19 pandemic, such as the use of technology and electronic communications.
Parties which have commenced (or intend to commence) an arbitration in respect of an agreement that refers to undefined ACICA Rules should be aware of the additions and differences between the 2016 and 2021 Rules, as the updated Rules will apply by default.
The revised Rules, which came into force on 1 April 2021, are a product of extensive consultation with practitioners and stakeholders. Practitioners (including Corrs) were provided the opportunity to participate and collaborate with the ACICA Rules Committee in the feedback process, which has resulted in taking into account practical considerations when revising the Rules.
