The Entry Into Force Of The ICC 2021 Rules

As of 1 January 2021, the new rules of the International Chamber of Commerce ("ICC") have entered into force regarding the conduct of arbitration and case management for the arbitral proceedings submitted to the ICC rules.

The new rules intend to increase transparency and efficiency, by particularly taking into account the increased trend in third-party funding.

The most notable changes in the new rules are as follows:

There is now a more efficient joinder and consolidation regime. The new rules allow an already constituted tribunal to be able to join a third party to the proceedings, should pertinent
prerequisites be met. Furthermore, consolidation is now possible where all of the claims in the arbitrations are made under the same arbitration agreement(s).