3 Int'l Arbitration Trends To Watch: Midyear Report

In Law360's midyear report on arbitration trends to watch, counsel Levon Golendukhin discusses one of the year's most notable procedural shifts: the International Chamber of Commerce's decision to make its longstanding Terms of Reference optional. As arbitral institutions face increasing pressure to improve efficiency and control costs, the move signals a willingness to rethink even the most established features of the arbitral process.

"I think it's groundbreaking — not in the procedural change itself — but in the fact that it's willing to update its rules to do away with the things that were characteristic of the ICC," he added.

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