The Rules of the ICAC provide an ideal balance between the parties’ autonomy and effective arbitration consideration. The Provisions of the ICAC Rules are aimed at making arbitration consideration more efficient, cost-effective and comfortable to the parties. The clear procedure allows the parties to participate in arbitration with no involvement of external lawyers and at no additional cost.
As of January 1, 2018, the New Rules of the ICAC has come into force and been approved by the Presidium of the UCCI No.25(6) on July 27, 2017. According to the provisions of Article 72 of the Rules, it is applicable to the cases taken to consideration by the ICAC from January 1, 2018 on.
The cases considered by the ICAC before January 1, 2018, are processed under the Rules of the ICACapproved by the Presidium of the UCCI on April 17, 2007, Minutes No.18(1), with possible amendments unless parties agree otherwise.