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International Framework for Rapid Dispute Resolution in Construction Projects
The UNCITRAL SPEDR Model Clauses, adopted in July 2024, introduce a framework for rapid, interim-binding dispute resolution in cross-border commercial contracts, particularly suited for the construction industry. This framework aims to provide a middle ground between informal project administration and fully fledged arbitration, offering speed, lower procedural costs, and preservation of cash flow. According to Aceris Law LLC, SPEDR may offer a meaningful solution for construction disputes, but its success will depend on industry confidence in its ability to deliver effective interim justice. The article was first reported by an unknown source.