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Security for Costs

E-Chapter from ICC Dispute Resolution Bulletin Procedural Decisions in ICC Arbitration
2014 Edition
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e-Book (see e-book FAQs)
ISBN 978-92-842-0334-5
12.00€
About this title

Published in May 2015

ICC Case 12732

Date of procedural order: January 2006

Origins of parties: Africa, Europe

Place of arbitration: London, United Kingdom

ICC Rules of Arbitration: 1998

Summary of issues:

  • exceptional nature of remedy
  • timing
  • inappropriateness in ICC arbitration

 

ICC Case 13359

Date of procedural order: February 2006

Origins of parties: Asia, Europe

Place of arbitration: Paris, France

ICC Rules of Arbitration: 1998

Summary of issues:

  • timing
  • financial weakness as prerequisite
  • good faith as prerequisite
  • comparison with ICC advance on costs
  • burden of proof

 

ICC Case 13620

Date of procedural order: May 2006

Origins of parties: Africa, Europe

Place of arbitration: London, United Kingdom

ICC Rules of Arbitration: 1998

Summary of issues:

  • arbitral tribunal’s discretionary power to order security for costs
  • impact of failure to pay ICC advance on costs
  • provisional nature of decision

 

ICC Case 14020

Date of procedural order: November 2006

Origins of parties: Caribbean

Place of arbitration: London, United Kingdom

ICC Rules of Arbitration: 1998

Summary of issues:

  • source of arbitral tribunal’s power to order security for costs (lex arbitri/ICC Rules)
  • timing
  • change of circumstances
  • arbitral tribunal’s power to order security for claims

 

ICC Case 14355

Date of procedural order: January 2007

Origins of parties: Asia, Europe

Place of arbitration: Zurich, Switzerland

ICC Rules of Arbitration: 1998

Summary of issues:

  • source of arbitrator’s power to order security for costs
  • substantiation of need for security for costs
  • insufficiency of mere financial difficulties

 

ICC Case 14433

Date of procedural order: October 2008

Origins of parties: America, Europe

Place of arbitration: London, United Kingdom

ICC Rules of Arbitration: 1998

Summary of issues:

  • arbitral tribunal’s discretionary power to order security for costs
  • factors to consider when assessing need for security for costs

 

ICC Case 14661

Date of procedural order: December 2007

Origins of parties: Europe

Place of arbitration: Paris, France

ICC Rules of Arbitration: 1998

Summary of issues:

  • change of circumstances
  • limitation to future costs

 

ICC Case 14661

Date of procedural order: December 2008

Origins of parties: Europe

Place of arbitration: Paris, France

ICC Rules of Arbitration: 1998

Summary of issues:

  • limitation to future costs

 

ICC Case 14993

Date of procedural order: December 2007

Origins of parties: Europe

Place of arbitration: Vienna, Austria

ICC Rules of Arbitration: 1998

Summary of issues:

  • exceptional nature of circumstances justifying security for costs
  • insufficiency of mere financial difficulties

 

ICC Case 15218

Date of procedural order: July 2008

Origins of parties: Europe, Middle East

Place of arbitration: Bern, Switzerland

ICC Rules of Arbitration: 1998

Summary of issues:

  • change of circumstances
  • degree of insolvency justifying security for costs
  • impact of applicant’s conduct on outcome of application

determination of amount to be secured

About the ICC Dispute Resolution Bulletin

The full Bulletin contains extracts from awards and procedural orders rendered in ICC cases, commentaries on these case decisions, statistics, reports, and articles on ICC practices and procedures. 

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