Wednesday, March 23, 2005 9:28:41 AM
I think there's universal agreement that one party could not do so, and Jim has confirmed with the ICC that requests for extension by the parties are not unusual.
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Article 24
Time Limit for the Award
1
The time limit within which the Arbitral Tribunal must render its final Award is six months. Such time limit shall start to run from the date of the last signature by the Arbitral Tribunal or of the parties of the Terms of Reference, or, in the case of application of Article 18(3), the date of the notification to the Arbitral Tribunal by the Secretariat of the approval of the Terms of Reference by the Court.
2
The Court may extend this time limit pursuant to a reasoned request from the Arbitral Tribunal or on its own initiative if it decides it is necessary to do so.
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Although it's already been beaten to death, if the "speedy ICC" wants a decision within 6 months of the signing of the Terms of Reference, taking two and one half months to review that decision, makes little sense.
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