The following clause is recommended for parties who wish to have future disputes referred to arbitration in accordance with the rules of the ICAA. Words/spaces between brackets should be deleted/completed accordingly. The LCIA court also has the power to order the consolidation of arbitration, in the same circumstances that the court of arbitration may order consolidation. In cases where arbitration proceedings are initiated under identical or similarly compatible arbitration agreements or between the same Zanziensen, or from the same transaction or transaction or series of related transactions, the LCIA court may order consolidation only if no arbitration tribunal has been formed by the LCIA tribunal for one of the arbitration proceedings to be consolidated (Article 22.8). In addition, the LCIA court cannot order two or more arbitrations at the same time. The amended rules provide for a lighter procedure in the execution of arbitration proceedings, either by the emergency arbitrator or by the Arbitral Tribunal. A well-developed compromise clause is a guarantee that the parties will spend less time and avoid unnecessary costs in the event of a dispute. Parties wishing to resolve their dispute in accordance with the LCIA arbitration rules may include in the contract the following models of LCIA arbitration clauses and LCIA mediation clauses, as recommended by the London Court of International Arbitration, in the contract. New 2014 LCIA rules introduce the default rule that consideration of an arbitration agreement applies to the law of headquarters The parties can agree that any dispute will be resolved through mediation. In the absence of an arbitration clause, the unresolved dispute is permanently brought before the relevant state courts. A dispute settlement clause combining mediation and arbitration may be suitable for parties seeking more structured discussions in the event of litigation and for advice from experienced mediators.

The autonomy and dissociatability of a compromise clause from its underlying contract is a defining principle of international arbitration. Part of this principle is that the law governing an arbitration agreement may depart from the law governing material disputes between the parties (i.e. the law of the contract). The parties can – and increasingly do – explicitly characterize the law applicable to their arbitration agreement as applicable (and often different) from the law applicable to the contract. However, in the absence of an express provision, uncertainties remain as to the law applicable to the arbitration agreement. While opportunities are generally limited to contract law or arbitration headquarters law, this uncertainty can throw out disruptive satellite disputes. The new 2014 LCIA rules, which will come into effect on October 1, 2014, usefully introduce a default rule (Article 16.4) that the law applicable to the arbitration agreement will be the law of the arbitration headquarters (unless the parties have legally agreed otherwise).

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