New Rules 1 May 2013
Revised Rules of Arbitration Procedure
The Danish Institute of Arbitration (DIA) is pleased to announce its adoption of revised Rules of Arbitration Procedure. The revised Rules will come into force on 1 May 2013.
The new Rules are in line with the latest international standards.
Among the updates are:
- The Arbitral Tribunal may render a separate arbitral award for reimbursement by the defaulting party of its share of the financial deposit, cf. Article 6 (2), as well as a decision on setting a financial deposit concerning other costs such as a party’s legal costs, cf. Article 6 (8)
- There may be consolidation of claims and additional parties may join cases already pending under the Rules, cf. Article 9
- Where the parties have not agreed upon the number of arbitrators, the dispute may be decided by a sole arbitrator, cf. Article 10
- In addition to confirming their independence and impartiality, any person appointed arbitrator must also confirm their availability, cf. Article 12
- Upon request of a party, the Arbitral Tribunal may make decisions concerning the confidentiality of the arbitration proceedings, cf. Article 18 (7)
- The Secretariat will carry out scrutinizing of draft awards, cf. Article 28
- Prior to confirmation of the arbitrators, a party may submit an application for appointment of an interim arbitrator who has powers to resolve any disputes between the parties regarding the taking of evidence, cf. Appendix 2
- Prior to confirmation of the arbitrators, a party may submit an application for appointment of an emergency arbitrator to grant any interim measures, cf. Appendix 3
The Rules are available in Danish, English, German, and French. The Rules will be available in Russian and Chinese in the near future. The Rules can be found on www.voldgiftsinstituttet.dk.
Please contact Steffen Pihlblad, Secretary General of DIA at email@example.com or +45 21636698 for further information about the Rules and/or DIA.