Jurisdiction(s):
United Kingdom

CIIAM Arbitration Rules 2024: Awards, Time Limits, Institutional Scrutiny, Post-award Corrections and Optional Challenge, Costs, Confidentiality and Termination

Published by a LexisNexis Arbitration expert

Practice notes

Introduction

This Practice Note serves as a handbook to arbitration conducted by the International and Ibero-American Arbitration Center of Madrid (‘CIIAM’ or the ‘Center’) (formerly CIAM-CIAR) pursuant to its arbitration rules effective from 1 January 2024 (the Arbitration Rules). It focuses on the issuance of awards, the assessment and apportionment of costs, and the ways in which proceedings can be brought to a close.

Time limit for rendering awards

The Arbitration Rules set timetable parameters that marry predictability with sufficient flexibility. They differentiate between standard proceedings and accelerated options (‘abbreviated procedure’ and ‘highly expedited procedure’). The Center oversees adherence to time limits, and arbitrators’ timeliness may influence both applications for extensions and the setting of fees (Arts 4.5, 49.1, and institutional guidance on award scrutiny).

In ordinary proceedings, unless the parties stipulate otherwise, tribunals must issue awards on the merits within three months after the hearing or the final substantive submission. Submissions on costs are not treated as substantive when computing this period. Moreover, the Arbitration Rules authorise arbitrators to prolong the deadline by up to two further months where required to properly finish their task. Once that buffer is surpassed, the Center may, in exceptional situations, approve additional extensions upon...

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Bernardo M. Cremades, Jr.

Partner, B. Cremades & Asociados

Bernardo M. Cremades, Jr., admitted to practice law in Madrid, New York and the District of Columbia, is a partner in the litigation and arbitration group of B. Cremades & Asociados. He focuses his practice on both investment treaty and international commercial arbitrations under the auspices of various arbitral organizations and rules, including the International Centre for Settlement of Investment Disputes (ICSID), the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), the United Nations Commission on International Trade Law (UNCITRAL), the International Centre for Dispute Resolution (ICDR), and the Inter-American Commercial Arbitration Commission (IACAC). Likewise, Bernardo participates in domestic commercial arbitrations under a wide array of arbitral rules. Bernardo regularly represents or advises clients in litigation proceedings in different jurisdictions, with particular emphasis on Spanish, European and U.S. courts. Such litigation proceedings include some of the largest...

Mr. Rodrigo Cortés Calvo

B. Cremades & Asociados

Rodrigo joined B. Cremades y Asociados’ arbitration and litigation department in January 2007. Since then, his practice has focused on domestic and international ad hoc and institutional commercial arbitration under various international institutions and rules, including the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), the International Centre for Settlement of Investment Disputes (ICSID), the Court of Arbitration for Sport (TAS-CAS) and the Court of Arbitration of Madrid (CAM). He also represents or advises clients before different courts in arbitration-related matters including, inter alia, the setting aside and enforcement of awards, the appointment of arbitrators, precautionary measures, exequatur proceedings of foreign awards in Spain and arbitrator liability proceedings. Rodrigo has also participated in a wide range of litigation proceedings before various courts and tribunals, mainly in relation to regulated sectors, corporate law, breach of contract,...

Web page updated on 21/05/2026

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