June 20, 2021
AIAC Arbitration Rules 2021 Public Consultation
The AIAC is pleased to announce the commencement of the public consultation process for the upcoming AIAC Arbitration Rules 2021. A copy of the draft AIAC Arbitration Rules 2021 (“Draft 2021 Rules”) is available here.
The Draft 2021 Rules contain significant amendments to the AIAC Arbitration Rules 2018 to reflect contemporary standards and practices in international arbitration, the key features of which are highlighted below:
- merging of Part I and Part II of the AIAC Arbitration Rules 2018 to ensure a harmonious and coherent set of procedural rules that are modelled on the UNCITRAL Model Law (as revised in 2013);
- incorporation of a Fast Track Procedure to provide for expedited arbitrations and minimising the need for a standalone set of AIAC Fast Track Arbitration Rules (see Rule 8);
- revisions to the process of appointing the Arbitral Tribunal, including a new provision on multi-party appointments (Rule 9);
- revisions to the Emergency Arbitration provisions to enhance clarity (Rules 17 and 18);
- new provision on Summary Determination for the early dismissal of claims (Rule 19);
- revisions to the joinder and consolidation provisions, including a new provision for the consolidation of multi-contract disputes (Rules 21 and 22);
- substantive revisions to the provisions on the closure and termination of proceedings, the technical review process, and the release, correction and interpretation of awards to enhance clarity (Rules 32 – 39)
- revisions to the provisions relating to costs and deposits to enhance clarity (Rules 40 and 41); and
- revisions to the confidentiality provision to reflect best practices (Rule 44).
The AIAC now invites its users, stakeholders, and members of the public to participate in the public consultation of the Draft 2021 Rules which shall conclude on 30th June 2021. Any comments or feedback on the Draft 2021 Rules can be provided by completing this online form.
The AIAC would like to take this opportunity to thank the members of its Rule Revision Committee for their continuous support of and constructive feedback on the Draft 2021 Rules to date.
We look forward to hearing from you.
TAN SRI DATUK SURIYADI BIN HALIM OMAR
ASIAN INTERNATIONAL ARBITRATION CENTRE