Dispute Resolution | International Arbitration | Revista Romãnã de Arbitraj
Article written by counsel Natasha Peter, a member of Gide's Dispute Resolution practice group, published in the April-June 2019 issue of the Revista Romãnã de Arbitraj - Romanian Arbitration Journal, a journal of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania, published by Wolters Kluwer Romania.
The Prague Rules, although they are drafted in non-mandatory and facilitative terms, draw attention to a number of ways in which the efficiency of an arbitration could be improved by encouraging the arbitral tribunal to be more proactive. These capabilities are not new - in general tribunals are already free to adopt them under their inherent case management powers and are not prevented from doing so by the IBA Rules. However, the Prague Rules are an attempt to combat a tendency towards a “one size-fits-all” arbitration that has developed as a result of the popularity of the IBA Rules. The insights provided by behavioural economics shed an interesting light on the way in which the Prague Rules may be able to dispel a certain inertia in arbitral procedure, by shaking up preconceptions about how an arbitration should be conducted.