ACICA is pleased to announce that ACICA has re-constituted its Rules Committee to commence the review of the 2021 ACICA Arbitration Rules and ACICA Expedited Arbitration Rules (2021 Rules).

ACICA has conducted a review of its rules every five years since 2011 to ensure they reflect international best practice and continue to exceed user expectations.

The 2021 Rules introduced amendments relating to the enhanced oversight of costs, time limits for the delivery of awards, virtual hearings, paperless filing and electronic execution, multi-party and multi-contract arbitrations, effective case management, third party funding, the early determination of disputes, and the use of alternative means of dispute resolution.

The revision process will continue to build on ACICA’s established practice of providing an effective, efficient and fair arbitral process.

Since 2011 to date, ACICA has handled 151 administered arbitrations with a total value of AUD$25.5 billion (USD$16.6 billion). 56 of those cases have been administered under the 2021 Rules demonstrating the increased use of ACICA arbitration in recent years.

Read the full media release here.