Welcome streamlined, simplified and quicker ad hoc arbitral proceedings! On 9 July 2021, UNCITRAL finalised and adopted its 2021 Expedited Arbitration Rules (the "EAR"), a set of rules which parties may agree to adopt for expedited arbitration1. This refers to “a streamlined and simplified procedure with a shortened time frame"2 and enables parties to resolve their disputes in a cost and time-effective manner.
The EAR form an appendix to the UNCITRAL Arbitration Rules which will also be slightly amended (new Article 1(5)) to take account of this change (the "Revised UNCITRAL Rules"). The Revised UNCITRAL Rules and the EAR are due to come into effect on 19 September 2021 when they will be officially published in the six official languages of the United Nations.
The FAQs set out in this update highlight the most important aspects of the EAR. Please note that this legal update is based on the draft EAR and draft Explanatory Note, currently available here (final versions having not yet been published). Please download the document below to continue reading this legal update.
1 We understand this to be the case according to UNCITRAL’s Draft Report of the 54th Session dated 9 July 2021 entitled A/CN.9/LIV/CRP.1/Add.12.
2 The meaning given to expedited arbitration in UNCITRAL’s draft Explanatory Note.