Ann: Arbitration Update, page-80

As one of the world’s leading dispute resolution institutions, the ICC Court is committed to handling cases in an efficient and prompt manner. Over the past three years, the ICC Court has implemented several new practices to enhance the punctuality of case proceedings. In particular, the ICC Expedited Procedure provides final awards for lower valued cases within six months of the case management conference, which has enhanced the ICC Court’s ability to handle cases in a timely and cost-efficient manner. Similarly, the ICC Court has introduced delay measures to ensure that cases are processed on time. The delay measures stipulate that the ICC Court may lower the arbitrators’ fees in cases where awards are submitted late, unless the delay is attributed to exceptional circumstances.



Article 27: Closing of the Proceedings and Date for Submission of Draft Awards As soon as possible after the last hearing concerning matters to be decided in an award or the filing of the last authorized submissions concerning such matters, whichever is later, the arbitral tribunal shall:a) declare the proceedings closed with respect to the matters to be decided in the award; andb) inform the Secretariat and the parties of the date by which it expects to submit its draft award to the Court for approval pursuant to Article 34.After the proceedings are closed, no further submission or argument may be made, or evidence produced, with respect to the matters to be decided in the award, unless requested or authorized by the arbitral tribunal.