CORD Launches Rules 2.0 for Mid-Value Commercial Arbitration

Recently, the Centre for Online Resolution of Disputes (CORD) has introduced Rules 2.0. Its main purpose is to make institutional arbitration more accessible to mid-value commercial disputes.

These new rules have been in effect since 4 September 2026 and have introduced various changes in cost, speed and transparency. Under these rules, the fees of arbitration follows a proper structure ranging from 60% to 140% of the Fourth Schedule of the Arbitration and Conciliation Act 1996.

These rules also provide for creating an Independent Appointment Council to look over the appointments of arbitrators, empanelment criteria, and challenges to arbitrators.

Parties can also go for an appellate mechanism under which an independent tribunal under the Mumbai Centre for International Arbitration will review the award.

Another feature is daily imposition of cost for missing any deadlines as to procedure.

It also governs the use of artificial intelligence in arbitration. An AI Practice Note provides for categories as to the use of AI such as prohibited and permitted. This has brought more clarity to how it should be used during the proceedings.

CORD follows a digital model with a purpose to resolve matters within a period of six months. The Rules 2.0 addresses concerns related to cost and delay while providing a proper institutional process for commercial disputes.