A Guide to the New ICC Rules of Arbitration

The ICC Rules of Arbitration (`the Rules') constitute one of the world's oldest and most widely used sets of rules for international commercial disputes. On January 1, 1998, new rules took effect which represent the first major reform of the Rules in two decades. This in-depth, article-by-article guide differentiates the new Rules from the earlier versions and explains the way in which they will operate in practice. Both authors had an intimate involvement in the preparation of the new Rules -- Mr. Derains, as chairman of the working party that prepared them, and Mr. Schwartz as Secretary General of the ICC Court during their preparation (Mr. Derains has also served in this position). In the Guide, they draw on their knowledge of ICC Court practice and of issues that commonly arise in connection with the application and interpretation of the Rules. The result: a unique, practical reference for anyone dealing with or expecting to deal with the new ICC Rules.