REVISED UNCITRAL ARBITRATION RULES - NEW PROVISIONS IN INTERNATIONAL COMMERCIAL ARBITRATION
REVISED UNCITRAL ARBITRATION RULES - NEW PROVISIONS IN INTERNATIONAL COMMERCIAL ARBITRATION

Summary/Abstract: UNCITRAL Arbitration Rules in effect from August 15th, 2010 contain a number of new provisions that improve the original version of UNCITRAL from 1976. Among the main new provisions we can mention are: Art. 4 (Response to notification of arbitration), Art.10 (Appointment of arbitrators and of multiple parties), Art. 16 (Exclusion of liability), Art. 17 (5) (Joining of third party or third party), Art. 41 (Costs of arbitration, arbitration expenses), Art. 26 (Interim protection measures) was completely revised. Revised UNCITRAL Rules are, according to the latest trends in international arbitration, representing a true reform awaited not only by practitioners but also by the parties.

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