Originally from the Leading Arbitrators' Guide to International Arbitration - Fourth Edition

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Expediting an arbitration always sounds like a good idea ahead of time, but it can be a less attractive proposition when the time comes to put a pre-existing agreement to expedite into practice. This may seem odd, since saving time almost always means saving money, and everyone has heard horror stories about arbitrations that drag on for years. It is not, however, necessarily faster or cheaper to have to force an arbitration proceeding into a strait jacket designed for a different dispute than the one you are dealing with.

One reason for the disconnect is that expediting an arbitration is a subject that can be addressed in advance, when drafting the arbitration clause in a contract, or that can be addressed after a dispute has crystallized into a live arbitration. The counterintuitive thesis of this chapter is that it is often better and safer to wait until you know what you’re dealing with to decide if it can and should be done faster.

I. PROVIDING IN ADVANCE FOR AN EXPEDITED ARBITRATION

There are only two types of disputes as to which it is safe to assume in advance that tight time limits will be appropriate. One is the classic emergency situation, such as a dispute involving a shipload of bananas that will be worthless unless the dispute can be dealt with practically overnight. And the other is a dispute involving such a small value that neither side will want to devote more resources to it than absolutely necessary.