Addressing Time And Cost Concerns In International Arbitration Through Early Determination Procedure

Introduction

While arbitration has long been considered one of the most efficient ways of commercial dispute resolution, it also tends to be more costly than other ADR proceedings. Nevertheless, being one of the most flexible and adaptable dispute resolution mechanisms, arbitration continues to often be the preferred choice for entities and individuals deciding to forego traditional court practices to settle legal claims.

In serving the interests of flexibility, summary procedures, also known as early determination procedure ("EDP"), have found considerable application in commercial arbitration, while gaining renewed attention since their inclusion in the new LCIA Rules 2020.¹ In light of these new developments, this post will highlight the history, rationale and relevance of EDP in international arbitration.