ICC Releases New International Arbitration Rules – Important Changes For The Construction And Energy Sector

The International Chamber of Commerce (ICC) International Court of Arbitration, one of the leading international arbitral institutions, has released revised Rules of Arbitration to take effect in January 2021. The 2021 ICC Rules contain some important updates, especially for the construction and energy sector, which constitutes approximately 40% of the ICC's overall caseload. The 2021 ICC Rules also make adjustments for international arbitration in the era of COVID-19, providing accommodations that could make international arbitration more efficient and economical in the long term.

Key Changes

• Consolidation and Joinder: The 2021 ICC Rules expand the provisions of joinder and consolidation making it easier to join additional parties and consolidate multiple matters. These changes may prove important for construction and energy disputes, which often involve multiple cross border parties and contracts.
  • Joinder: Under the 2017 ICC Rules, all parties had to