As part of our ongoing commitment to providing valuable insights into the world of law, we are pleased to continue our FAQs Series, focusing on the <span class="news-text_italic-underline">International Chamber of Commerce International Court of Arbitration</span> (<span class="news-text_medium">ICC</span>).
In this edition, we address some of the most common questions surrounding ICC arbitration, offering clarity and guidance on this widely utilised dispute resolution mechanism.
The ICC International Court of Arbitration is the leading global institution for resolving international commercial disputes through arbitration. Established in 1923, it operates under the auspices of the International Chamber of Commerce (ICC) and administers arbitrations worldwide, providing parties with a neutral forum and procedural framework for resolving their disputes efficiently and effectively.
ICC Arbitration ensures top-notch service quality, facilitated by a reputable institution and guided by the ICC Rules of Arbitration, widely acknowledged and esteemed as the gold standard for international dispute resolution.
The accessibility and efficacy of ICC Arbitration are available to all, with the sole requirement being the consent of parties, stipulated either in a contract, treaty, or separate arbitration agreement. This consent, typically included in a pre-dispute contract or treaty, can also be granted post-dispute occurrence.
Distinguished by unparalleled experience and expertise, the ICC Court and its Secretariat stand ready to aid parties and arbitral tribunals on any matters concerning arbitration proceedings and diligently ensure the enforceability of ICC awards.
Unlike litigation, which involves resolving disputes through the court system, ICC arbitration offers parties greater flexibility, confidentiality, and neutrality in resolving their disputes. ICC arbitration proceedings are conducted by arbitrators chosen by the parties or appointed by the ICC Court, and the process is governed by the ICC Rules of Arbitration, which provide a comprehensive framework for the conduct of proceedings.
ICC arbitration is well-suited for resolving a wide range of international commercial disputes, including those arising from contracts, joint ventures, construction projects, and international trade. Parties from diverse industries and jurisdictions can benefit from the flexibility and expertise offered by ICC arbitration in resolving their disputes efficiently and effectively.
The ICC Court of Arbitration plays a central role in administering arbitrations conducted under the ICC Rules. It assists parties in selecting arbitrators, scrutinizes awards for procedural correctness, and provides support and supervision throughout the arbitration process. The ICC Secretariat, the Court's administrative arm, assists parties and arbitrators in managing the arbitration proceedings.
ICC arbitration offers parties several advantages, including flexibility in selecting arbitrators, procedural efficiency, and enforcement of awards in over 160 countries under the New York Convention. The ICC's reputation for neutrality, expertise, and professionalism makes it a preferred choice for parties seeking a reliable and efficient dispute resolution mechanism for their international commercial disputes.
We hope this brief overview has provided valuable insights into ICC arbitration and answered some of your key questions on this important topic. Stay tuned for more informative content in our FAQs Series, where we continue to explore essential aspects of law and dispute resolution.
We are pleased to note that as Belgravia Law, we currently have active cases with prominent international centres, including the ICC. This demonstrates our commitment to working with esteemed institutions and our dedication to providing exceptional arbitration services to our clients.
