NEWSLETTER-2020-metin

202 NEWSLETTER 2020 Expedited Procedure Rules The 2021 Arbitration Rules alters the monetary limit provided for in the Expedited Procedure Rules, and increased the threshold from USD 2 million to USD 3 million for arbitration agreements concluded on or after 1 January 2021. Conclusion The 2021 Arbitration Rules bring changes and clarifications to party representation, complex arbitrations (joinder and consolidation), third party funding, constitution of arbitral tribunals, treaty based ar- bitrations, virtual hearings, electronic submissions, additional awards and monetary limit for Expedited Procedure Rules. Most of these alterations are not surprising considering the changing practices in international arbitration and the current environment in light of the COVID-19 pandemic. However, two provisions that allow the ICC Court to appoint all three members of an arbitral tribunal and the ar- bitral tribunals’ right to exclude counsel in light of conflict of interest issues may face some concerns. Even though these provisions aim to create transparency and address some practical issues, the ICC Court and arbitrators need to act with the utmost diligence when invoking these new provisions by bearing in mind possible enforcement prob- lems and the best interests of the case at hand.