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On 1 June 2024, the 2024 Administered Arbitration Rules of the Hong Kong International Arbitration Centre will come into effect. The 2024 Rules can be accessed here.
The 2024 Rules maintain HKIAC's "light touch" approach to case administration, which respects party autonomy and has been a fundamental feature of HKIAC administered arbitrations. This means that parties who have adopted arbitration under the HKIAC Administered Arbitration Rules in force when the arbitration commences can rest assured that the regime they have adopted continues to apply with no unforeseen drastic changes, while benefitting from enhancements and improvements.
The key changes seek to enhance time and cost efficiency of arbitrations, protect their integrity, and promote diversity and greener arbitrations. Many of the changes incorporate HKIAC's existing practices into the rules.
The fact that no drastic changes have been introduced into the 2024 Rules reflects a high degree of user satisfaction. According to HKIAC, its 2018 Rules have been well-received by users since their release on 1 November 2018 and are widely recognised as market-leading arbitration rules.
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