What is WIPO Expedited Arbitration?
WIPO Expedited Arbitration is a form of arbitration that is carried out in a shortened time frame and at a reduced cost. For example. in recent expedited arbitration proceedings governed by the WIPO Rules, the sole arbitrator appointed by the Center issued a final award six weeks after the proceedings were commenced.
The Center makes available a Comparison Table providing a full overview of the modifications of the WIPO Expedited Arbitration Rules compared to the WIPO Arbitration Rules. The principal modifications are:
(i) The registration and administration fees are lower than those applicable to an arbitration conducted under the WIPO Arbitration Rules. Fixed arbitrator’s fees apply to disputes of up to US$ 10 million.
(iii) There is always a sole arbitrator.
(iv) Any hearings before the arbitrator are condensed and may not, save in exceptional circumstances, exceed three days.
(v) The time limits applying to the various stages of the arbitral proceedings have been shortened. In particular, the proceedings should, whenever reasonably possible, be declared closed within three months (as opposed to nine months under the WIPO Arbitration Rules) of either the delivery of the Statement of Defense or the establishment of the Tribunal, whichever event occurs later, and the final award should, whenever reasonably possible, be made within one month (as opposed to three months under the WIPO Arbitration Rules) thereafter.