NEWSLETTER-2020-metin

200 NEWSLETTER 2020 which it has an economic interest in the outcome of the arbitration.” This provision aims to increase transparency and allows arbitra- tors to disclose their relation with the funders to avoid any conflict of interest issues that could arise from third party funding arrangements which have become highly popular in international arbitration prac- tice. Virtual Hearings (Article 26(1)) During the COVID-19 pandemic, it has become apparent that in order to carry on with the proceedings, all participants to the arbitra- tion should be willing to make some adjustments to traditional ways. In this respect on 09April 2020, the ICC released its Guidance Note on Possible Measures Aimed at Mitigating the Effects of the COVID-19 Pandemic (“ICC Guidelines) 3 . One of the important guidelines was related to virtual hearings. The 2021 Arbitration Rules, parallel to the ICC Guidelines, right- fully introduce virtual hearings into its text similar to the LCIA 2020 Arbitration Rules. In an era in which most engagements are conducted virtually it is without doubt necessary for arbitral tribunals to decide after consulting with the parties whether the hearing will be conducted by physical attendance or remotely. Electronic Submissions The ICC has showed its willingness to help practitioners by al- lowing electronic fillings from the start of the COVID-19 pandemic. It is needless to say that this approach and additions to the 2021 Arbitra- tion Rules are environmentally friendly, and cost and time effective. The 2021 Arbitration Rules move away from the traditional way of submitting pleadings and communications in hard copy. As Article 3(1) provides the documents to be “sent,” eliminating the previous wording of “shall be supplied in a number of copies sufficient to pro- 3 Erdem, Mehveş : “Impact of COVID-19 on Arbitration”, Erdem&Erdem News- letter, April 2020, http://www.erdem-erdem.av.tr/publications/newsletter/impact- of-covid-19-on-arbitration/