New
dispute resolution service launched
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| ADR: Dispute resolution
in an amicable way |
Paris,
29 June 2001 - The International Chamber of Commerce has announced new
rules for the amicable resolution of business disputes. ICC ADR takes its place
alongside arbitration under the rules of the ICC International Court of Arbitration,
the world business organization's core dispute resolution service.
The ICC-ADR rules cover
all techniques for amicable dispute resolution currently in use, among them
mediation, neutral evaluation and mini-trials. The new rules come into force
on 1 July.
ADR is distinct from arbitration
under the rules of the ICC Court. Unlike arbitration, which results in a binding
award, ADR findings are non-binding and the process depends on the goodwill
of the parties in dispute. They are free to reach a binding settlement agreement
on the basis of ADR findings if they so wish.
ICC ADR permits parties
to settle disputes amicably, rapidly and at minimum cost - and it can be completely
confidential. Throughout, the parties are in control, secure in the knowledge
that an impartial international institution is administering their case.
Users of ICC ADR benefit
from ICC's experience over almost 80 years as facilitator of business dispute
resolution, backed by the extensive international resour
ces of national committees
in 78 countries.
To mark the introduction
of ICC ADR, a subsite written in layman's language for business executives has
been posted on the ICC website. The subsite is divided into four sections -
covering arbitration, ICC's International Centre for Expertise and the DOCDEX
service for resolving disputes over documentary credits.
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