Set to take effect on 1st October 2020, the LCIA has updated its rules, designed to “make the arbitral and mediation processes even more streamlined and clear for arbitrators, mediators and parties alike.”
Notable amendments in the Rules include:
- Additional tools allowing arbitrators to expedite proceedings, including by introducing an explicit reference to the possibility of early dismissal determination;
- refinement and expansion of the provisions accommodating the use of virtual hearings, also supporting arbitrations taking place in the new normal;
- confirming the primacy of electronic communication with the LCIA and in the arbitration, as well as confirming the facilitation of electronically signed awards;
- inclusion of explicit provisions addressing the role of tribunal secretaries;
- broadening of LCIA Court and Tribunal power to order consolidation and concurrent conduct of arbitrations; explicit consideration of data protection and regulatory issues.