The new Rules of Arbitration of the Arbitration Centre at the Luxembourg Chamber of Commerce came into effect on 1 January 2020.
These new rules, which are applicable to all proceedings brought to the Arbitration Centre from that date, unless parties have agreed that the previous version of the rules applies, are an extensive revision of the Arbitration Centre’s applicable rules.
All of the changes made as part of this revision are intended to increase the efficiency of the arbitration process and to meet the new expectations of parties with respect to arbitration.
In particular, an emergency procedure has been introduced allowing parties to request urgent provisional or protective measures that cannot wait for the constitution of an arbitration tribunal, as well as a simplified procedure allowing parties to settle disputes that do not exceed EUR 1 million, or disputes for which parties have agreed to use this simplified procedure, more quickly and less expensively.
With this new tool, the Arbitration Centre thus provides businesses with a modern and efficient tool for settling disputes.
The new Rules of Arbitration can be consulted here.
For any questions regarding arbitration, please contact the Arbitration Centre at the following address: arbitration(at)cc.lu.