THE NEW HKIAC RULES REVEALED
Last year the HKIAC embarked upon the project of amending its Administered Arbitration Rules (the ‘Rules’). These Rules, initially inspired by the Swiss Rules of International Arbitration, came into force on 1 September 2008 and were borne out of the growing demand from Chinese parties for administered arbitration proceedings in Hong Kong. The aim of the Rules is to maximise party autonomy, with their intended users being parties looking for a ‘light touch’ approach to administered arbitration. After just over four years’ experience of their use, the consensus is that the Rules are working well. As a result, the amendments being introduced in June 2013 do not represent a wholesale revision of the Rules, but rather entail modifications to clarify and simplify existing rules which can usefully be made in light of users’ experiences to further strengthen the Centre’s service to parties and professionals, as well as broader amendments introduced to ensure the Rules continue to reflect the best of modern practice in international commercial arbitration.
The key amendments to be introduced in June include changes to the calculation of arbitrators fees to improve the parties’ ability to control costs; the introduction of standard terms and conditions to streamline the arbitrator appointment process; the inclusion of new and expanded provisions for use in multi-party, multi-contract situations as well as the introduction of procedures for the appointment of emergency arbitrators.
Apr-Jun 2013 issue
Hong Kong International Arbitration Centre