LCIA

The LCIA is one of the longest-established international arbitral institutions. It was formerly called the London Court of Arbitration, but changed its name to the London Court of International Arbitration as part of its strenuous efforts to market itself as an international arbitral institution. It is commonly known simply as the "LCIA" and has become one of the foremost international institutions and LCIA arbitrations take place all over the world. However, the LCIA is based in London and although its Arbitration Court (i.e. supervisory body), its list of arbitrators, and membership are international, it may be objected to as not sufficiently neutral by, for example, those contracting with English entities. Where this is a problem, choose the ICC instead.

The LCIA's arbitration procedure can be quicker than the ICC's as there is no requirement for Terms of Reference and no review of the final award, as in the case of the ICC. The LCIA's website has helpful "Guidance Notes" for parties & arbitrators as well as copies of the LCIA Rules and other useful information.

In 2020 the LCIA issued a rules update which apply to LCIA arbitrations commenced on or after 1 October 2020. These build on, and refine, the preceding set of (2014) rules including a number of additions which are aimed at providing tribunals with further encouragement to maximise efficiency in LCIA proceedings (click here for more).

The LCIA rules give the arbitrator a discretion whether to order general discovery of documents. Our precedent clauses exclude the arbitrator's power to order general discovery (on the grounds that the saving in time and cost makes up for the few cases where general discovery might have changed the outcome). Consider whether this will be appropriate in your case before including these words in the LCIA Clause.

LCIA rules also contain very specific provisions regarding the applicable law of the arbitration agreement which may require additional consideration when drafting an LCIA clause. Click here for more.