The 2021 ICC Rules – An Overview

As of 1^st January, the 2021 ICC Rules have officially come into force. Building on the recent revisions introduced in 2012 and 2017, the newly released provisions aim to reconsider established arbitral practices and are designed to be a further step towards greater efficiency, flexibility and transparency of ICC-administered arbitrations.

The revised 2021 ICC Rules include a number of noteworthy modifications, such as:

• Consolidation and joinder of claims;
• Increase of threshold for expedited arbitrations;
• Conflict of interest including party representation, equal treatment and disclosure of third party funding;
• Virtual hearings and electronic document submission.

The following will touch upon the most substantive changes of the new Rules and their implications for ICC users and practitioners.