The ICA Bylaws & Rules have been updated following changes to the ICA arbitration system.
Designed to improve the proficiency of our arbitrators and the efficiency of our arbitration system, the changes were approved by the ICA Board of Directors in 2012 and voted in by our members at our recent EGM (Extraordinary General Meeting).
The main changes can be summarised as follows:
Chairmen: There will be a pool of ten Chairmen approved by the Board on an annual basis who will be appointed to chair tribunals and technical appeals on a ‘taxi rank’ system. They will be responsible for writing the awards and for mentoring new arbitrators.
New arbitrators: New arbitrators will be assigned to a Chairman who will act as their mentor. They must observe at least three arbitrations of different complexities and will be required to produce a brief summary of the substantive issues in each arbitration.
Fees and expenses: To aid transparency, we have introduced a standard time sheet to be completed by all arbitrators, allowing parties to see a breakdown of costs. It was agreed that the only expense an arbitrator can claim is courier fees – up to GBP £50. To reflect their greater workload and responsibility, Chairmen will receive an additional GBP £250 per arbitration.
The new English edition of the Bylaws & Rules came into force on 1 April 2013 and it is now available as a free download from our website. Other foreign language versions will be available soon. All amendments are highlighted with a vertical line on the right-hand-side of the document.