On 6 June 2018, the Alternative Dispute Resolution Committee of the Ukrainian Bar Association held the roundtable “Expedited procedures in international commercial arbitration: recent experience and challenges”. Serhii Uvarov, Counsel at INTEGRITES, moderated the discussion.
In his welcome speech, he mentioned that originally, arbitration became popular as a fast, none-expensive and efficient alternative to the state courts. However, nowadays, arbitral procedures have become quite lengthy and costly. Users of arbitration services have demanded new expedited procedures. Arbitral institutions quite promptly responded to this by introducing various forms of simplified arbitral procedures to their rules. Such procedures are faster and usually cheaper compared to the regular ones. They fit very well for resolving rather simple disputes in international commerce.
During the event, the participants shared recent experience of applying expedited procedures in international commercial arbitration, discussed practical challenges in applying such procedures, as well as potential risks for enforcement of arbitral awards rendered under such procedures.