From January 1, 2023, the new GIAC Arbitration Rules will come into force. The amendments include both procedural and technical directions, aiming to simplify the arbitration process and increase the credibility of arbitration as the most effective dispute resolution mechanism.
More specifically, from 2023:
- GIAC Rules will abolish the request of the physical copy requirement and will allow the parties to initiate the arbitration proceedings via electronically submitted Request of Arbitration (the hard copies will only be required where the claimant is requesting delivery against receipt);
- GIAC Rules will allow in explicit terms the possibility of holding remote hearings. It will specifically allow for hearings to be conducted by physical attendance, or remotely by videoconference, telephone or other appropriate means of communication.
- GIA Rules introduces the provisions allowing the appointment of an emergency arbitrator to deal with the applications for the emergency measures before the constitution of the tribunal.
- GIAC Rules includes various technical changes to improve a number of issues and increase the efficiency of dispute resolution.
The updated arbitration rules will make dispute proceedings at more flexible and ensure high transparency and reliability of the process.
The Arbitration Rules can be found at the following link.