The International Chamber of Commerce (ICC) Commission on Arbitration came out with an excellent report titled, “Techniques for Controlling Time and Costs in Arbitration.” The ICC Commission set up a Task Force on Reducing Time and Costs in Arbitration. The report details methods for selecting counsel, arbitrators, and one of the key issues the Task Force reports on is time. There is the old adage, “time is money.” With the use of a virtual conference suite, parties can save a tremendous amount of money by being efficient and smart with time.
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