Successful launch of the International Commercial Dispute Prevention and Settlement Organization (ICDPASO) Investment Arbitration Rules

The International Commercial Dispute Prevention and Settlement Organization (ICDPASO) Investment Arbitration Rules were considered and adopted at the Twelfth Meeting of the First Council and formally released at The Ninth East Lake International Law Forum. Adhering to the principles of “extensive consultation, joint contribution, and shared benefits”, ICDPASO organised teams of experts to draft the Rules, and after some rounds of soliciting opinions of members with domestic and foreign, listened to the suggestions of all parties, and inviting practical lawyers, experts, scholars, and representative of the enterprise have involved in the investment arbitration to discuss and revise the Rules. Based on the existing investment arbitration rules, the Rules focus on the practical and cutting-edge issues in the field of investment arbitration. The full text of the Investment Arbitration Rules consists of 55 articles, including seven chapters on General Provisions, Commencement of the Arbitration, The Arbitral Tribunal, Arbitration Procedure, Reconciliation and Mediation, Arbitral Award and Supplementary Provisions, with distinctive features in terms of flexibility and efficiency of arbitration procedures, transparency of arbitration procedures, promotion of amicable settlement of disputes between the parties, requirements and standards for arbitrators, principle of non-discrimination and principle of sustainable development, and so on.

The ICDPASO would like to express its special thanks to Professor YANG Guohua's team from Tsinghua University and WANG Xuehua's team from Beijing Huanzhong & Partners for their strong support, and also expresses its heartfelt gratitude to the global members, domestic and foreign cooperation agencies, experts, scholars and enterprise representatives who have made diligent efforts and excellent contributions in the process of formulating, researching, discussing, providing feedback, translating and proofreading the Investment Arbitration Rules.