The International Centre for Dispute Resolution (ICDR) was established in 1996 as the international arm of the American Arbitration Association (AAA). It is by far the best-known international arbitration institution of domestic origin and has reportedly outpaced peer institutions abroad in terms of caseload. Earlier this month, the ICDR announced revisions to its International Arbitration Rules, which are provisionally set to go into effect next month.
Understanding the impact of the revised rules is critical not only for attorneys whose clients have entered into ICDR arbitration agreements, but also for those with clients who are considering such agreements. It is not unusual, for example, for a client negotiating a cross-border deal to ask counsel what rules should be designated and whether any alterations should be proposed.
