New “Expedited Procedure” aims to fast-track lower value disputes.

On 4 November 2016, the International Chamber of Commerce (ICC) released amendments to its Arbitration Rules (the 2016 Rules), which will come into effect on 1 March 2017. The most significant change is the introduction of an “Expedited Procedure”. This is a streamlined, “fast track” procedure that aims to resolve lower value disputes within six and a half months of transmitting the file to the tribunal. The ICC has also made other amendments to its arbitration rules designed to increase transparency in ICC Court decision-making and efficiency of the arbitral process.