Law360 reports expedited arbitration is not well-known and is only being used in a small amount of disputes, according to a United Nations survey. Expedited arbitration is designed to reduce costs by shortening deadlines as a case moves forward. Partner Carlos Concepción, who leads Shook’s global arbitration practice, told Law360 in "Expedited Arbitration Popularity To Grow, With Some Caveats" that it will likely be at least five or ten years before expedited arbitration becomes commonly used by parties.
“We're finding that many parties don't elect them simply because they don't know that they exist,” said Concepción. “It's like everything else in this business: it takes a while for the arbitration community to adopt something that's new . . . but once they know this opportunity exists, they're going to adopt it, because it's going to be a lot cheaper.”
Concepción has served as counsel in a wide range of domestic and international litigation and arbitration matters.
The United Nations Commission on International Trade Law working group is addressing these issues in Vienna, September 23-27, 2019.