The International Chamber of Commerce (ICC) has recently released preliminary statistics for its arbitration and ADR services for 2023. These statistics reveal a significant increase in case filings compared to the previous year and provide valuable insights into the changing landscape of dispute resolution on a global scale.
According to Claudia Salomon, the President of ICC International Court of Arbitration (ICC Court), these preliminary statistics demonstrate the continued trust that parties worldwide place in ICC to resolve their disputes, regardless of the amount in dispute, counterparty, or industry sector. This article will delve deeper into the data provided by ICC and explore the implications of these findings for the future of dispute resolution.
Key Highlights from 2023
Awards
In 2023, the International Chamber of Commerce (ICC) approved 520 draft awards, including drafts of 384 final awards, 104 partial awards, and 32 awards by consent. Of these, 512 were approved subject to points raised for the arbitral tribunal’s consideration during the ICC Court’s distinctive scrutiny process. Additionally, 42 draft awards were scrutinized and returned to the arbitral tribunal for further consideration before the ICC Court could approve them.
Parties
In 2023, parties from 141 jurisdictions filed arbitration cases with the ICC. The majority of parties came from Europe (40%), followed by Asia and the Pacific (25%), Latin America (14%), North America (13%), and Africa (8%). Notably, the number of parties from Central and Eastern Europe, North America, and the Middle East increased significantly from the previous year.
France, the United Kingdom, Switzerland, the United States, and Brazil remained the top five seats of arbitration. In total, arbitrations were seated in 116 cities across 63 countries.
Amounts in Dispute
The average amount in dispute in 2023 filings was US$65 million, with a median value of approximately US$5.5 million. The aggregate amount in dispute reached US$53 billion.
For pending cases, the average amount was US$150 million, with a median of US$13 million and a total of US$255 billion.
Regional and Domestic Disputes
Close to 30% of new cases involved parties from the same country, while 45% involved parties from the same region, reflecting a slight increase from 2022.
Diversity and Gender Representation
In 2023, the ICC confirmed or appointed 935 individual arbitrators from 89 jurisdictions. Preliminary data indicates an increase in the number of women arbitrators, with 269 women confirmed further to party or co-arbitrator nomination or appointed by the ICC Court, representing close to 30% of all appointments and confirmations.
Importantly, 41% of all arbitrator appointments made by the ICC Court in 2023 were women.
Emergency Arbitration
A total of 28 Emergency Arbitration applications were filed by parties from 33 jurisdictions, with over 40% of the applications involving multiple parties, 25% involving states and state-owned entities, and 25% involving parties of the same nationality. These figures underscore the critical role of Emergency Arbitration in creating access to dispute resolution when it is most needed.
Expedited Procedure
In 2023, the ICC Court administered a record-breaking 189 new cases under the Expedited Procedure Provisions (EPP). Since the procedure’s establishment in 2017, the ICC Court has administered a total of 713 cases under the EPP.
ICC International Centre for ADR
In 2023, the ICC International Centre for ADR received a total of 75 requests for its services, with the majority of requests filed under the Mediation and Expert Rules. The Centre also received requests under the DOCDEX and Dispute Board Rules.
According to Alexander Fessas, the Secretary General of the ICC Court, the increased case filings and substantial amounts in dispute reflect the trust that parties worldwide place in ICC’s ability to manage complex, high-stakes disputes. He also stated that ICC is committed to enhancing its services to meet the evolving needs of the global business community.
The full 2023 ICC Dispute Resolution Statistics report will be available to the public later this year. Historical statistical reports are also available on the ICC Dispute Resolution Library at jusmundi.com.
