This article was published in Mealey’s International Arbitration Report – March 2021. Copyright 2021, LexisNexis. All rights reserved. It is reprinted here with permission.
On February 15, 2021, the International Bar Association (IBA) released the long-awaited 2020 update to its highly influential Rules on the Taking of Evidence in International Arbitration (“IBA Rules”). Known for their flexibility and practical blend of common law and civil law traditions, the IBA Rules have come to reflect the most common practices in international arbitration proceedings over the past two decades. The 2020 update is important because, prior to the 2020 update, the IBA Rules had only been revised once, in 2010, after first being formalized in 1999. As a result, given the prevalence of the IBA Rules, the 2020 update is likely to remain the benchmark standard for international arbitration practice for the next decade.