Earlier this year the ICC Dispute Resolution Services published the preliminary dispute resolution figures for 2021.
It is reported that in 2021 the ICC International Court of Arbitration registered 853 new cases in total, as compared to 946 new cases in 2020 which was the highest number since 2016.
Despite the drop in case numbers, a sharp increase was reported in the average amount in dispute. The new cases registered between January and October 2021 amounted to an average of US$184 million in dispute compared with US$54.1 million for new cases filed between January and December 2020.
Another important figure is that in 2021 the ICC International Centre for ADR, which provides alternative dispute resolution services such as expert determination, dispute boards, and mediation which can be used separately, successively, or even concurrently with other dispute resolution procedures, registered a record number of 80 new requests for its services.
Equitas advises and provides support to its clients in the construction industry in utilising alternative dispute resolution methods before matters are referred to formal dispute resolution processes. There are various industry guidelines and rules facilitated by several professional institutions.
Equitas Consulting is a leading specialist consultancy providing high quality expert advisory, claims and dispute management services to the global engineering and construction industry.