News Alert! New CRCICA Arbitration Rules 2024!
New year, New Rules!
The long-awaited release of the new Arbitration Rules (“Rules”) of the Cairo Regional Centre for International Commercial Arbitration (“CRCICA”) is finally here and shall enter effect on 15 January 2024.
The CRCICA Arbitration Rules were last updated in 2011 and have been continuously discussed among legal practitioners during the past five years with the uprise of amendments in Arbitration Rules across the GCC.
The new CRCICA Arbitration Rules 2024 still align heavily with the UNCITRAL Arbitration Rules with new inclusions, namely the digitalization of arbitration filings and proceedings to cope with the fast pace that parties currently favor. The Rules also introduce and encourage remote hearings to comply with the green proceedings theme and cover provisions on the joinder of additional parties and consolidation of proceedings.
With the current economic situation, the Rules also set new tables and annexes covering the modified administrative fees and provide insight into the costs of the arbitral tribunal and sole arbitrators.
Stay tuned for our analysis and comparison of the changes introduced under the new Rules, including the law applicable to arbitration agreements, multiple contracts treatment, third-party funding, early dismissal of claims, and emergency arbitrator rules.
CRCICA board of trustees approved the draft on 20 December 2024, and with it, we anticipate a change in the arbitration scene in Egypt on domestic and international levels.