AN OVERVIEW OF ALTERNATIVE DISPUTE RESOLUTION IN THE ICC NEW RULES

The ADR rules of the International Chamber of Commerce have recently come into force, substituting rules of conciliation which along with arbitration used to be employed as a settlement procedure for a long time. The new ADR rules seem to be as flexible as possible so that they allow the parties to resolve their dispute in a manner convenient to them.Compared to arbitration, ADR tend to be more expeditious and less expensive. A facilitating person called "the Neutral" who is appointed either by the parties themselves or by the ICC, attempts to bring the parties to a compromise, through a procedure that they consider to be the most appropriate one.