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Key takeaways of the new ICC Rules

By Signature Litigation
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Signature Litigation

A new version of the ICC Rules will be coming into force on 1 January 2021 – the most important modifications include:

  • Additional provisions on the consolidation of cases and the joining of additional parties during the arbitration;
  • Third party funding now to be disclosed;
  • Possibility to exclude new party representatives in the course of the proceedings to prevent potential conflicts of interest;
  • Modification of the expedited proceeding opt-out threshold (now at 3MUSD); and
  • Authority of the tribunal on whether to hold a hearing by videoconference or in person.

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