Dear valued clients, colleagues and friends,
The Asian International Arbitration Centre has launched its latest edition of the AIAC Arbitration Rules on 1 August 2021, featuring well needed and timely changes. This includes:
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Amalgamation of the AIAC Arbitration Rules, the UNCITRAL Arbitration Rules and the Fast Track Arbitration Rules;
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Legitimisation of third-party funding;
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Clarification of multi-party appointments;
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Introduction of list procedure for arbitral appointments;
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Clarification on replacement of arbitral tribunal;
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Revisions to emergency arbitration procedure;
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New summary determination procedure;
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Expansion on joinder and consolidation provisions; and
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Stronger confidentiality provisions.
For more information, please click here for Shearn Delamore Arbitration & Mediation Practice Group’s write-up on the key updates and new features present in the new 2021 Rules.