October 24, 2013
KLRCA Revises Rules to Incorporate International Trends and Best Practises
Translation of the Rules into six languages demonstrates the Centre’s determination to go global
Kuala Lumpur, 24 October 2013 – The Kuala Lumpur Regional Centre for Arbitration (KLRCA) has unveiled its revised Rules in a launch event officiated by Minister in the Prime Minister’s Department, Yang Berhormat Puan Hajah Nancy Haji Shukri.
The Rules, namely the KLRCA Arbitration Rules, KLRCA i-Arbitration Rules and KLRCA Fast Track Rules has been revised and the KLRCA Mediation Rules revamped with the aim of enhancing the incorporation of international trends in alternative dispute resolution proceedings and KLRCA’s functions, to run cohesively with current best practices in international commercial arbitration.
According to the Director of KLRCA, Datuk Sundra Rajoo, “This revision of the Rules is quite timely and is evidence of KLRCA’s determination to keep abreast with both global and national developments of alternative dispute resolution,”
“KLRCA has retained the essence of the Rules, and the modifications have been made with the sole intention of uplifting Malaysia to the same competitive ranks as the best that the Asia-Pacific region can offer,” He added.
In her speech at the launch of the revised Rules, YB Puan Hajah Nancy Shukri congratulated KLRCA and stated, “The government welcomes this move by KLRCA to further develop their rules which would enable the Centre to provide the standards of service required of an international arbitration Centre.”
Apart from revising its Rules, KLRCA also took the bold step of translating the Rules into six different languages, namely Arabic, Spanish, Korean, Mandarin, Bahasa Malaysia and Bahasa Indonesia. The unprecedented move is done with the aim of drawing the interest of the global arbitration community, demonstrating KLRCA’s intents to be the leading alternative dispute resolution centre in the Asia-Pacific region.
The revised Rules will be in force from the 24th of October 2013.
We are also pleased to announce that the latest issue of KLRCA’s Newsletter (July-Sept 2013) is out.
This issue includes a write-up on ‘KLRCA’s Revised Arbitration Rules’ as it highlight the amendments made to each rules.
Kindly click here to download the pdf version.