On 2nd July 2015 at the CIArb Centenary London Conference the CIArb (the Chartered Institute of Arbitrators) launched the Principles for an effective, efficient and ‘safe’ Seat for the conduct of an International Commercial Arbitration.
By 3rd July after much discussion and debate it was generally agreed that they would be a draft and further development was required.
The Principles are not though another set of model rules for an arbitral institution.
The CIArb states in the introduction that:
‘They are principles which recognise that the importance of arbitration today and the loosening, almost severing, of ties between international arbitration and national law requires a number of key characteristics to make a particular place an appropriate and effective arena in which to conduct arbitration.’
The Rt Hon the Lord Neuberger of Abbotsbury PC (UK) stated in his key Note speech:
"The principles are described as being 'necessary for an effective, efficient and ‘safe’ Seat for the conduct of an International Commercial Arbitration', and they set an appropriately, but not unattainably, high standard, without being too prescriptive"
A clear, effective and modern international arbitration law that recognises and respects the parties’ choice of arbitration as the method for settlement of their disputes by:
An independent Judiciary demonstrably experienced in International Commercial Arbitration and respectful of the parties’ choice of arbitration as their method for settlement of disputes.
3. Legal Expertise
A legal profession experienced in International Commercial Arbitration and International Dispute Resolution, providing significant choice for parties who seek representation in the Courts of the Seat or in the International Commercial Arbitration proceedings conducted at the Seat.
A commitment to education of counsel, arbitrators, the judiciary, experts, users and students of the carter and autonomy of International Commercial Arbitration and to the further development of learning in the field of arbitration.
A clear right for parties to be represented in arbitration by party representatives (including but not limited to legal counsel) of their choice whether from inside or outside the Seat
Easy accessibility to the Seat, free from unreasonable constraints on entry for parties, witnesses, and counsel in International Commercial Arbitration, and adequate safety and protection of the parties, their documentation and information.
Functional facilities for the provision of services to International Commercial Arbitration proceedings including transcription services, hearing rooms, document handling and management services, and translation services.
Professional and other norms which embrace a diversity of legal and cultural traditions, and the developing norms of international ethical principles governing the behaviour of arbitrators and counsel.
Adherence to international treaties and agreements governing and impacting the ready recognition and enforcement of foreign arbitration agreements, orders and awards made at the Seat in other countries.
A clear right to arbitrator immunity from civil liability for anything done or omitted to be done by the arbitrator in good faith in his or her capacity as arbitrator.