Arbitration Tips: Arbitration (Cheap, quick - Why not?)

Arbitration Tips Fast-track Arbitration

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Arbitration Tips Fast-track Arbitration (cheap, quick – why not?)

Arbitration has many advantages over litigation, but one of the fundamental tenets behind arbitration, is the provision of a relatively inexpensive and quick means of resolving commercial and trade disputes.

John Abbott

Russell Beard

Partner john.abbott@laytons.com +44 (0)20 7842 8000

Partner russell.beard@laytons.com +44 (0)20 7842 8000

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Arbitration Tips | Fast-track Arbitration

Over the years arbitration practice has progressed and has developed in to a sophisticated process. But this comes at a price, and it may be difficult to run quickly and economically.

Top tips • When drafting the arbitration provision of a contract, make specific provision on how less valuable disputes

This has been recognised by a number of the arbitral

are to be determined. This can be achieved by using

institutions across the World who have addressed the problem

tiered arbitration agreements, where disputes under a

by introducing fast track arbitration processes.

certain value use an expedited processes and disputes over that figure are resolved by the regular arbitration

For example the ICC, SCC, SIAC, ISTAC and CIArb have all

processes; and

introduced expedited procedures for short-form or fast-track arbitration for arbitrations under certain values and meeting certain criteria. The ICC expedited procedure is for disputes of

• Check the criteria of the different arbitral bodies for their expedited processes. They vary greatly and you

a value under $2m, under ISTAC the limit is $79,713.

will need to pick the one that suits your situation at the stage that you are preparing the arbitration provision

These are positive steps, which mean that relatively low value

for your contract.

disputes may be arbitrated within an appropriate timeframe and cost. Some quality may be lost when compared to full arbitration processes, but that will be regarded as a price worth paying by the international business community who would welcome the prospect of determining their lower value disputes economically.

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We at Laytons are well positioned to assist you, whether it is in considering and drafting the appropriate arbitral provision to include in your contract, or pursing or defending an arbitral claim.

Arbitration Tips | Interim Measures

Arbitration Our team is experienced in resolving disputes through arbitration and committed to providing outcomes-focused, innovative and commercially minded advice to guide our clients through all stages of the arbitration process.

We represent clients from across the globe in arbitrations involving a range of sectors including construction, international trade and commodities, investment treaties and shipping.

Our experience spans arbitrations convened through the main international institutions such as the ICC, LCIA, LMAA, DIFC and SIAC as well as on an ad-hoc basis.

Our Team John Abbott

Russell Beard

Partner john.abbott@laytons.com +44 (0)20 7842 8000

Partner russell.beard@laytons.com +44 (0)20 7842 8000

Robert Clark

Simon Foster

Partner robert.clark@laytons.com +44 (0)20 7842 8000

Partner simon.foster@laytons.com +44 (0)1483 407 000

Richard Harrison

Paddy Kelly

Partner richard.harrison@laytons.com +44 (0)20 7842 8000

Partner paddy.kelly@laytons.com +44 (0)20 7842 8000

Rebekah Parker

Will Slater

Partner rebekah.parker@laytons.com +44 (0)20 7842 8000

Consultant will.slater@laytons.com +44 (0)20 7842 8000

Geraint Thomas

Ben Thorogood

Partner geraint.thomas@laytons.com +44 (0)20 7842 8000

Solicitor ben.thorogood@laytons.com +44 (0)20 7842 8000

Daniel Walter Solicitor daniel.walter@laytons.com +44 (0)20 7842 8000

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This information is offered on the basis that it is a general guide only and not a substitute for legal advice.

We cannot accept any responsibility for any liabilities of any kind incurred in reliance on this information.

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