166 NEWSLETTER 2021 However, the Expedited Arbitration Rules also envisage the possibility of the parties failing to come to an agreement. In such case, if the parties have not reached agreement on the appointment of a sole arbitrator 15 days after a proposal has been received by all other parties, a sole arbitrator shall, at the request of a party, be appointed by the appointing authority in accordance with Article 8(2) of the UNCITRAL Arbitration Rules. The rules also introduce a time limit within which the award should be rendered by the arbitral tribunal. According to Article 16, the award shall be made within six months from the date of the constitution of the arbitral tribunal. The arbitral tribunal is granted the right to extend this period in exceptional circumstances and after inviting the parties to express their views. As mentioned above, parties may also wish to exclude the application of Article 16(3) of the Expedited Arbitration Rules which states that in any case, the overall extended period of time shall not exceed nine months from the date of the constitution of the arbitral tribunal, unless otherwise agreed by the parties. In case the parties wish to exclude the application of Article 16(3) of the Expedited Arbitration Rules, this should be stated in the arbitration agreement. Conclusion The introduction of the Expedited Arbitration Rules is a welcome development which shall inevitably contribute to the efficiency of arbitrations. Certain steps have been removed from the proceedings and procedure has been simplified, which should result in the mitigation of costs and expedite the resolution of disputes. Additionally, the option of an expedited arbitration may also increase the use of arbitration as concerns relating to costs and duration may be eliminated and thus parties may be convinced to resort to arbitration for the resolution of their disputes.
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