The Asian International Arbitration Centre (“AIAC“) regularly revises its arbitration rules to keep up-to-date with modern arbitration practice. On 24 August 2023, the AIAC Arbitration Rules 2023 (“2023 Rules“) came into effect. This easy-to-digest set of Rules promotes certainty, and by extension, provides the end user with confidence when seeking to rely on these Rules. This article highlights four key changes introduced in the 2023 Rules, relating to:
- the commencement of arbitration;
- summary determinations;
- disclosure of third-party funding; and
- a new dynamic role for arbitrators.
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