INTERNATIONAL CHAMBER OF COMMERCE: AN INTRODUCTION AND GUIDE TO INTERNATIONAL COMPANIES
Arbitration is a form of alternative-dispute-resolution which parties not wishing to use the courts, but still wanting an independent, impartial review that provides binding orders, might use. The International Chamber of Commerce (ICC), founded in 1919, encompasses over 45 million businesses in over 170 countries.
Contracting under ICC Rules
The ICC provides the following as an example clause to ensure arbitration at the ICC:
"All disputes arising out of or in connection with the present contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules."
The ICC Rules assume that the preceding clause intends for a sole Arbitrator, as such, Parties should specify in the clause if they wish to have multiple. The ICC also emphasises that in changing the clause the Parties should ensure to avoid any ambiguity or uncertainty which could otherwise hinder arbitration proceedings or compromise the dispute resolution process.
The ICC also requires Parties to expressly 'opt-out' of the following procedures:
- Arbitration with an Emergency Arbitrator
- Expedited Arbitration
To opt-out of these the ICC suggests the use of the following clauses respectively:
- The Emergency Arbitrator Provisions shall not apply.
- The Expedited Procedure Provisions shall not apply.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.