26Jul2010
LCIA India Arbitration Rules – First Impressions
- By Rajiv Naik, Advani & Co.,
for YIAG
The recent publication of the LCIA India Arbitration Rules (the ‘Rules’) has sparked a fair amount of discussion and interest, not in small measure owing to the fact that this is the first instance when an international arbitral institution has published a set of arbitration rules tailored for the Indian scenario. One of the ways it does this is by providing parties with an extremely attractive framework of arbitration costs. This post focuses on this key aspect of costs, and how the Rules have the potential to bring about a change in perception that institutional arbitration is less cost-effective than ad hoc proceedings and which has hitherto deterred a more widespread use of instituti [...]
