The London Court of International Arbitration (LCIA) has released a revision of its arbitration rules. The last revision of the LCIA Rules was in 2014. The revised LCIA Rules are effective from 1 October 2020 and apply to arbitration proceedings commenced after that date (the “Revised Rules”).
These revisions cover a wide range of issues and include a number of new provisions that address issues that are not addressed in other leading arbitral rules. Among other things, the Revised Rules address the use of technology and remote hearings; confidentiality; compliance concerns relating to issues such as corruption, money laundering, and economic sanctions, data protection and security; conduct of party representatives; and the nationality of parties and arbitrators, as well as clarifying issues related to multi-party and multi-contract arbitration. These changes reflect the LCIA’s efforts to promote innovation and greater efficiency in international arbitration proceedings.
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