Author: David K. Watkiss Esq.*
Published: June 1991
International Institutions and Rules
Practice and Procedure
Description: My role in this singular fast-track international arbitration was as counsel for the contractual intermediary in two nearly identical contracts between an American buyer and a Canadian seller, who were the principal parties in an international agreement that provided for the annual redetermination or fast-track arbitration of certain contractual obligations. Because these specified obligations appeared to present readily determinable issues, the contracts provided that any arbitration that might be required must be concluded within sixty days from the redetermination date in accordance with rules agreed upon by the parties, or by the Rules of Conciliation and Arbitration of the International Court of Arbitration of the ICC by three arbitrators appointed under these Rules.