The Expedited Procedures provide parties with an expedited and simplified arbitration procedure designed to reduce the time and cost of an arbitration. The Expedited Procedures shall apply in any case in which no disclosed claim or counterclaim does not exceed USD $5,500,000 exclusive of interest and the costs of arbitration. The parties may agree to the application of these Expedited Procedures on matters of any claim size.

 

Where parties intend that the Expedited Procedures shall apply regardless of the amount in dispute, they may consider the following clause:

Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be determined by arbitration administered by the TAIASin accordance with its International Expedited Procedures of TAIAS.

 

The parties should consider adding:

1. The place of arbitration shall be (city, [province or state], country); and

2. The language(s) of the arbitration shall be __________.  

 

Features of the International Expedited Procedures:

• Parties may choose to apply the Expedited Procedures to cases of any size;

• Comprehensive filing requirements;

• Expedited arbitrator appointment process with party input;

• Appointment from an experienced pool of arbitrators ready to serve on an expedited basis;

• Early preparatory conference call with the arbitrator requiring participation of parties and their representatives;

• Presumption that cases up to $800,000 will be decided on documents only;

• Expedited schedule and limited hearing days, if any; and

• An award within 30 calendar days of the close of the hearing or the date established for the receipt of the parties’ final statements and proofs.

 

Whenever a singular term is used in the International Mediation or International Arbitration Rules, such as “party,” “claimant,” or “arbitrator,” that term shall include the plural if there is more than one such entity. The English-language version of these Rules is the official text for questions of interpretation.