The New LCIA Rules 2014
came into effect on 1 October 2014. This article addresses the principal
changes to the earlier LCIA Rules 1998. These changes include the commencement
of an LCIA arbitration, procedures for an emergency arbitrator (in addition to
a tribunal’s expedited formation), multiparty disputes and measures to reduce the costs and time
of an LCIA arbitration. Other changes are also described : the default seat of
an LCIA arbitration, the general guidelines for the parties’ legal
representatives appearing before an LCIA tribunal and the consequences of the
decisions in Slovenia, Jivraj et West Tankers.