Efficiency is a top priority for users of international arbitration and is one of the reasons why they select arbitration over litigation. Due to the increasing complexity of international arbitrations – which often involve multiple parties and multiple contracts – robust and active management is more important today than ever. While typically viewed as a responsibility of the tribunal, the efficient management of arbitration is a responsibility that is shared with the parties. Thanks to developments in national arbitration legislation and procedural rules, the parties and the tribunal have a variety of tools available.
GUIDANCE FOR ARBITRATION USERS
Efficient management of arbitration begins from the negotiation of the arbitration agreement. A small investment of time in this often overlooked clause can help avoid costly and time consuming procedural disputes later. Parties should select a pro-arbitration seat that will act in support of arbitration and refrain from unwarranted interference. Parties should insist upon administration by a respected international or regional institution and select modern procedural rules.
Parties should conclude structured arbitration agreements that tailor the procedure to the value of the dispute, or consider agreeing in advance to the application of new expedited procedures. Parties should consider recording their mutual expectations for the taking of evidence, including the production of documents. Parties may consider agreeing to the application of the International Bar Association Rules on the Taking of Evidence in International Arbitration.