New HKIAC rules come into effect - .PDF file.
On 1 November 2013, the Hong Kong International Arbitration Centre’s (HKIAC’s) new administered rules came into effect. The HKIAC Administered Arbitration Rules 2013 should enhance efficiency while maintaining HKIAC’s ‘light-touch’ administrative approach. Following the new HKIAC rules coming into force, the HKIAC has received a high volume of new applications, indicating that parties had waited for 1 November 2013 to arrive before filing their notices.
In this alert, King & Wood Mallesons summarise four major changes: emergency relief; complex disputes; expedited procedure; and arbitrators’ fees.
The new HKIAC rules apply to all arbitrations in which a notice of arbitration is submitted on or after 1 November 2013, where the arbitration agreement provides for arbitration ‘administered by HKIAC’ or words to similar effect (article 1.1). However, the new provisions for emergency relief, consolidation and multi-contract arbitrations will not apply where the arbitration agreement was concluded before 1 November 2013, unless the parties expressly agree otherwise (article 1.4)…
If you are registered and logged in to the site, click on the link below to read the rest of the King & Wood Mallesons briefing. If not, please register or sign in with your details below.