The International Bar Association (IBA) this week published its Guidelines on Conflicts of Interest in International Arbitration.
Seven general standards are set out in the guidelines, placing responsibility on arbitrators to research and disclose relationships between them or their organisation and any parties to the dispute. Parties to the dispute are also required to disclose any undue relationship with the arbitrator.
The guidelines divide conflicts of interest into three groups, categorising them by colour – red, orange and green, designed to make the application of the standards easier.
The IBA has spent more than two years consulting international arbitration and industry authorities to produce the guidelines, which are intended for immediate global use.