On 15 September 2020, the Luxembourg government published its draft bill no. 7671 to modernise the Luxembourg arbitration rules.
The expedited procedure of the International Court of Arbitration of the International Chamber of Commerce (ICC), in force since 1 March 2017, and applicable by default to cases where the amount in dispute is less than two million dollars (approximately 1.84 million euros), is intended to offer an efficient and swift means of dispute resolution, while lowering the cost of arbitration.
