Techniques for Controlling the Cost of Construction Industry Arbitration (English/Arabic)
Overview
While formal dispute resolution is an outcome parties to construction projects want to avoid, sometimes situations arise on projects which cause losses that, despite attempts, neither side can agree to settle. The contract may require parties to use arbitration to resolve disputes, at which point parties typically analyse the possible cost of proceeding, which of itself can be enough to prompt settlement. Those who persevere do so in the hope that the process will be over as quickly and cheaply as possible, while achieving a fair result.
It is very much the parties' lawyer's responsibility to encourage and promote techniques which effectively manage the arbitral proceedings to ensure a fair award is rendered in the fastest possible timescale. What follows are some tried and tested tools and techniques promoted by the ICC Arbitration Commission, which experience shows, can be effective in controlling the cost of construction arbitration.