Wikipedia Entry LL.M International Trade Law Research and Writing Skills Course The Arbitration Rules of London Court of International Arbitration (2014) (“2014 LCIA Rules”). ERASMUS UNIVERSITY ROTTERDAM Word Count (excluding footnotes): 543Student name: Saranda Cunaku Student Number: 509815 Professor: Piotr WilinskiDate: 09.09.2018 The Arbitration Rules of London Court of International Arbitration (2014) General information International arbitration is a well-known mechanism for the final and binding resolution of disputes, concerning a contractual or other relationship with an international element, by independent arbitrators, in accordance with procedures and substantive legal or non-legal standards chosen by the parties. Hence, as an alternative dispute resolution method, it offers the determination of disputes outside judicial systems. With regards to the administration of the arbitral proceedings, parties may agree on institutional arbitration or ad-hoc arbitration.
When institutional arbitration is involved, the institution will facilitate the proceedings in accordance with its rules. Among several sets of available arbitration rules that deal with the conduct of the arbitration proceedings are the Arbitration Rules of the London Court of International Arbitration Rules (hereinafter LCIA Rules). As follows, the ultimate authority for the application of the LCIA Rules is the London Court of International Arbitration, one of the world’s eldest and leading international commercial arbitration institutions. Contents TOC o “1-3” h z u Applicability of the LCIA Rules PAGEREF _Toc524191515 h 2Revision of the LCIA Rules PAGEREF _Toc524191516 h 2Conclusion PAGEREF _Toc524191517 h 3References PAGEREF _Toc524191518 h 3 Applicability of the LCIA RulesOne of the prime features of arbitration is party autonomy.
As such, parties are in control of the arbitral proceedings by among others agreeing in the applicable rules to facilitate the process. The applicability of the LCIA Rules takes place when any agreement, submission or reference made or evidenced in writing provides for arbitration under the rules of or by the LCIA, the London Court of International Arbitration, the London Court of Arbitration or the London Court. Revision of the LCIA RulesThe LCIA Rules are amid the most modern and forward-looking of the various sets of institutional arbitration. Partially, this is due to the fact that the LCIA in 2014 has adopted new rules for arbitration, a version applying to all arbitrations commenced on or after 1 October 2014, unless parties agree otherwise. The 2014 LCIA Rules replaced the LCIA Rules of 1998. The main changes brought by the LCIA Rules of 2014 are the inclusion of emergency arbitrator mechanism and a code of conduct for the parties’ legal representatives.
In addition, steps towards improvement in the efficiency of arbitration procedures were presented by shortening the timeframe for written submissions, and introducing written declarations by arbitrators for devotion of sufficient time in the process of arbitration as well as a prompt rendering of the arbitral award. The amended LCIA Rules of 2014 comprise the Preamble, the Articles and the Index, together with the Annex to the LCIA Rules and the Schedule of Costs. Throughout the legal provisions, information relating to different steps of an arbitration process such as request for arbitration, written communications, language of arbitration, formation of the arbitral tribunal, appointment of arbitrators, witnesses and experts, etc. Consequently, the detailed prescriptive setting of the required procedure to be followed is a principal characteristic of the LCIA Rules from other sets of arbitration rules. ConclusionGiven the above, it can be indicated that it is the update over periods of time as well as the thorough procedure information provided by the LCIA Rules 2014 that makes the application of these rules suitable for the fluctuating needs and requirements of the international commercial arbitration community.
ReferencesLew J, Mistelis L, Kröll S, Comparative International Commercial Arbitration (Kluwer Law International 2003) 1 – 15 Moses M, The Principles and Practice of International Commercial Arbitration (2nd edn, Cambridge University Press 2008) 1 http://www.lcia.org/ Preamble, LCIA Arbitration Rules (2014) Turner P, Mohtashimi R, A Guide to the LCIA Arbitration Rules (1st edn, Oxford University Press 2009) ch 1-2 Arts. 9B, 9C,18, LCIA Arbitration Rules (2014) Lindsay T, Glaysher J, Procopiak M, “2014 LCIA International Arbitration Rules Now Apply: Procedural Efficiency, Emergency Arbitrators and Complex Arbitrations” 2014 Dechert LLP <https://www.lexology.com/library/detail.aspx?g=64baa869-b024-48af-9e52-9f7d4b7ac2del> accessed 6 September 2018 Turner P, Mohtashimi R (n 4), 13