The Court discharges its arbitration functions pursuant to its Bylaws and Rules. Together and in combination with the law, they make up the regulatory framework for the Court’s arbitration.
The Court has had new Bylaws in place since 2019. The new Bylaws were drawn up taking into account the best governance practices of arbitral institutions, and particularly the recommendations of the Spanish Arbitration Club’s new Code of Best Arbitration Practices (2019). These new bylaw provisions, which govern the Court’s organisation and operations, are specially designed to strengthen the independence, transparency and efficiency of its actions.
The Court’s Rules were approved in 2019 and follow the Model Arbitration Rules of the Spanish Arbitration Club, with minor adjustments. The Court’s Rules incorporate the latest trends in national and international arbitration practice. Notable innovations addressed by the rules include third-party funding of proceedings, the role of the secretary to the arbitral tribunal and inaudita parte preliminary orders.
The increased sophistication of the new Rules does not, however, imply any hindrance to the autonomy of will of the parties, who have extensive freedom to structure proceedings in the way that best fits the specific circumstances of the case.