The IBA has recently released its 2024 iteration of its Guidelines on Conflicts of Interest in International Arbitration (“Revised Guidelines”).[1]
The Revised Guidelines maintain the structure of their 2014 predecessor, comprising a two-part framework stipulating the general principles to be applied and a list of circumstances for the practical application of these principles. The well-recognised red, orange, and green lists, a concept well-known within the arbitration community, remain an essential feature of the Revised Guidelines.
Notable Updates in the Revised Guidelines
Highlighted within the Revised Guidelines are several noteworthy updates:
Conclusion
The updates in the Revised Guidelines aptly reflect the ongoing developments in the global arbitration landscape, offering clearer guidance on potential conflicts of interest for arbitrators. The Revised Guidelines are expected to remain a reliable source of soft law, providing valuable guidance for increasing efficiency in arbitration proceedings.
The IBA has also published a comparative document visualising amendments across the 2014 and 2024 versions of the Guidelines. This may be viewed here.
If you have any queries, please contact Associate, Stephanie Lim Shu Juin (lsj@lh-ag.com) or her team Partner, Lim Chee Yong (lhy@lh-ag.com).
[REFERENCES]
[1] Albeit a form of soft law instrument, the IBA Guidelines has been widely accepted by the international arbitration community.
[2] General Standard 6(a).
[3] Items 3.2.9 and 3.2.10 of the Orange List.
[4] Item 3.4.2 of the Orange List.
[5] General Standard 3(e).
[6] General Standard 4(a).
[7] General Standard 3(g).