ICC Arbitration Rules 2021 Come Into Force – What Do You Need To Know?

The new ICC Arbitration Rules (Rules), in force since 1 January 2021, will apply to any arbitration commenced after that date unless otherwise expressly agreed between the parties.

The Rules do not apply automatically to infrastructure or commercial contracts in Ireland. Parties would need to expressly adopt the Rules in their contracts and where adopted, they would be in lieu of the rules governing international arbitration in Ireland, namely, the Arbitration Act 2010.

The principle changes to the Rules are as follows:

• Virtual/remote hearings - The arbitral tribunal can decide to conduct the hearing virtually after consulting with the parties, recognising the challenges of the current Covid-19 pandemic.