Malaysia: The Asian International Arbitration Centre updates Arbitration Rules

11 Dec 2023    1 minute read

In brief

The Asian International Arbitration Centre (AIAC) in Malaysia has released its latest updates in the form of AIAC Arbitration Rules 2023, AIAC i-Arbitration 2023, and AIAC Mediation Rules 2023 ("Rules").

Contents

In depth

These Rules are rooted in UNCITRAL's Arbitration Rules and UNCITRAL’s Mediation Rules and are aimed to offer clear guidance for all. Flexibility and customization options are also built in into a more streamlined efficient process.

Updates to the AIAC Rules 2023 includes Tribunal facilitated Settlements, lowered threshold for Fast Track procedures (where not agreed), simplified procedures for joinders, consolidation and summary determination; and a positive (continuing) duty on a party using third-party funding to disclose the existence of the funding and the identity of the funder, amongst others. Contingency plans in the event of the vacancy of AIAC director are also provided for to ensure a smooth flow in the arbitration process given the importance of the role. In addition, parties are deemed to consent to the disclosure of arbitration awards two years after the release of the award unless they utilize the opt-out process.

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Janice Tay
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Kuala Lumpur
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janice.tay@wongpartners.com

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