2024 HKIAC Administered Arbitration Rules Released
ISSUING AUTHORITY:
Hong Kong International Arbitration Centre (HKIAC)
DATE OF RELEASE:
May 3, 2024
EFFECTIVE DATE:
June 1, 2024
On May 3, 2024, the Hong Kong International Arbitration Centre (HKIAC) issued a new version of its arbitration rules (the “2024 Rules”).
The 2024 Rules maintains the “l(fā)ightly administered” character of the HKIAC.
The main highlights of the 2024 Rules are:
1.Improving the efficiency of the arbitration process. The power of the arbitral tribunal to decide preliminary issues or otherwise dispose of the case efficiently is strengthened. New mechanisms are introduced to enhance efficiency and preserve fairness, including revocation of the appointment of an arbitrator in cases of exceptional incapacity.
2.Emphasizing information security in arbitral proceedings. The arbitral tribunal is granted authority to make orders in respect of any breach of information security provisions.
3.Providing additional tools to preserve the efficiency and integrity of the arbitration. In certain exceptional circumstances, HKIAC may preserve the efficiency and integrity of the arbitration by revoking the appointment of an arbitrator who cannot fulfil his or her functions.
4.Promoting diversity in arbitrator appointments. The rules now encourage parties to take diversity into account when appointing arbitrators.
5.Environmental Considerations. Both the arbitral tribunal and the parties are required to consider the environmental impact during the arbitral proceedings, reflecting a commitment to sustainable practices.
Reference:
HKIAC releases 2024 Administered Arbitration Rules (effective 1 June 2024) 03 May 2024
