London Court of International Arbitration v International Chamber of Commerce: Key differences

In the current market there is no shortage of arbitration centres. Two of the best known are The London Court of International Arbitration (“LCIA”) and The International Chamber of Commerce (“ICC”). Choosing the appropriate forum for a dispute has always been an important consideration when drafting arbitration agreements with there being considerable variation from one centre to another. This article will look at the key differences between the current LCIA Rules (2020) and ICC Rules (2026).

Fee structure

The LCIA operates on a time-based fee structure for both arbitrator and administrative charges. Accordingly, the actual costs incurred reflect the time spent on the matter. This means that high-value, but low-complexity disputes can often be dealt with more economically than other arbitration offerings.

Conversely, the ICC charges are based on the value of the dispute. Whilst there is some value in certainty, as this structure provides early cost predictability, it does mean that larger value arbitrations can be disproportionately expensive even if a lean procedure is utilised.

Confidentiality

The LCIA has confidentiality at the forefront of its offering. Express confidentiality obligations apply by default to the parties, tribunal and institution. Those obligations cover the proceedings and the tribunal’s award. On the other hand, the ICC has no such similar mandatory obligation and awards may be published in anonymised form unless objected to by the parties.

Expedited and accelerated procedures

The ICC has both ‘Expedited Procedure Provisions’, which now automatically applies for disputes up to $4m for arbitration agreements concluded on or after 1 June 2026, and ‘Highly Expedited Arbitration Provisions’ which were conceived in the 2026 Rules. The HEAP provides an opt-in option to parties for a procedure designed to produce an award within three months of the initial CMC. These procedures put speed at the forefront and reflect industry trends to illustrate that arbitration is not reserved only for the largest disputes.

The LCIA does provide tribunals with express early determination powers in relation to claims and defences that are manifestly without merit but does not provide a formal expedited procedure. New LCIA rules are anticipated in 2027 and, in light of the increase in expedited procedures across arbitration centres in recent years, it is expected that an LCIA expedited procedure will be announced.

Ultimately, selecting the appropriate arbitration centre is extremely important. Whilst there are several highly bespoke centres for particular disputes, general commercial disputes can properly proceed in most arbitration centres. Care should be taken to ensure that a particular arbitration agreement selects the most appropriate centre for a dispute that is likely to be born out of the contract in which it is contained.

Contact our arbitration and dispute resolution team

Arbitration can offer significant advantages over litigation, but choosing the right dispute resolution mechanism is crucial. For expert guidance through every stage of the process, contact our dedicated arbitration and dispute resolution team.