Why Use CPR Arbitration?
- Efficiency, Reduced Cost(s), Expenses(s), & Impeccable Integrity– The rules were created by users for users addressing many of the criticisms of arbitration regarding costs, time and lack of impartiality. CPR’s rules provide for a non-bureaucratic administration process which dramatically reduces costs. Fees are based on scale of amounts at issue and are capped at US$34,000 for disputes over US$500M, split among the parties.
- Highest Quality Arbitrators – Based on the parties’ requirements, CPR provides the parties with lists of experienced arbitrator candidates carefully vetted by peers, users and practitioners for their experience resolving commercial disputes and conducting arbitration proceedings. With no direct appointments unless requested by the parties, the parties remain in control during the selection of the Tribunal. They agree on arbitrators or use a list ranking process to appoint the tribunal.
- Case Management – Cases are administered by a team of highly experienced and multilingual attorneys out of CPR’s offices in New York.
Key Features of CPR’s Administered Arbitration Rules
- Easy Commencement process – No cumbersome paper filing requirements. Click here to file a case
- Multiple arbitrator selection mechanisms available – Including Global Arbitration Review award winning Screened Selection Process.
- Independence and neutrality of Arbitrators – There is no exception. Challenges are decided by a Challenge Review Committee composed of three independent arbitrators pursuant to the CPR Challenge Review Protocol.
- Confidentiality- The rules provide for broad confidentiality which applies to all participants, including CPR, the arbitrators, and the parties.
- Rapid appointment of the Tribunal – It typically takes 2-4 weeks for the Tribunal to be appointed from the time of filing, but can be expedited.
- Time frame accountability – Awards must be issued within certain timeframes after which extensions must be requested and approved by CPR. CPR can convene the tribunal and the parties in a conference to discuss the factors that have led to an extension request.
- Lean Administration – CPR assists the parties during the tribunal selection, handles advances on costs, fund holding and billing, and performs a light review of the award for clerical, typographical or computational errors only before issuing the award.
- Application of Law – Arbitrators must apply applicable law and issue reasoned decisions.
- Settlement Opportunities – Opportunity to explore settlement at any time during the arbitration.
To Learn more about CPR's New Rules, watch our video: