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 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.

The LCIA rules give the arbitrator a discretion whether to order general discovery of documents. The 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.

In 2014 the LCIA brought into force new rules (in place of its preceding arbitration rules in force since 1998) which apply to LCIA arbitrations commenced on or after 1 October 2014. Whilst retaining the distinctive features of LCIA arbitration, these 2014 rules also made a number of changes to bring the LCIA Rules into line with recent trends in arbitration procedures. Click here for more.