Article 42

1. If the parties so agree, or if Article 42(2) is applicable, the arbitral

proceedings shall be conducted in accordance with an Expedited

Procedure based upon the foregoing provisions of these Rules,

subject to the following changes:

 

(a) The file will be transmitted to the arbitral tribunal only after

payment of the Provisional Deposit;

 

(b) After the submission of the Answer to the Notice of Arbitration,

the parties shall in principle be entitled to submit one

Statement of Claim and one Statement of Defence (and Counterclaim)

and, where applicable, one Statement of Defence in

reply to the Counterclaim;

 

(c) Unless the parties agree that the dispute shall be decided on

the basis of documentary evidence only, the arbitral tribunal

shall hold a single hearing for the examination of the witnesses

and expert witnesses as well as for oral argument;

 

(d) The award shall be made within six months from the date

when the Chambers transmitted the file to the arbitral tribunal.

In exceptional circumstances, the Chambers may extend

this time-limit;

 

(e) The arbitral tribunal shall state the reasons upon which the

award is based in summary form, unless the parties have

agreed that no reasons are to be given.

 

2. The following provisions shall apply to all cases in which the

amount in dispute representing the aggregate of the claim and the

counterclaim (or any set-off defence) does not exceed CHF

1,000,000 (one million Swiss francs), unless the Chambers decide

otherwise taking into account all relevant circumstances:

 

(a) The arbitral proceedings shall be conducted in accordance

with the Expedited Procedure set forth in Article 42(1);

 

(b) The case shall be referred to a sole arbitrator, unless the arbitration
agreement provides for more than one arbitrator;