Bank Guarantees are a common feature of international construction contracts. Bank Guarantees are typically used as a security for one party’s (usually the contractor’s) performance of its contractual obligations. Bank Guarantees frequently play a central role in construction disputes as well – either as an important aspect of background facts of the dispute or as […]
Arbitration in Malaysia
Arbitration in Malaysia is governed by the Malaysian Arbitration Act 2005 (“Arbitration Act”)(Act 646). The Arbitration Act is a modern arbitration law based on the UNCITRAL Model Law on International Commercial Arbitration, which came into force on 15 March 2006, repealing the Arbitration Act 1952 (Act 93) and the Convention on Recognition and Enforcement of […]
International Arbitration at the Kuala Lumpur Regional Centre for Arbitration
The Kuala Lumpur Regional Centre for Arbitration (KLRCA) was launched in 1978 by the Asian African Legal Consultative Organization. While the Hong Kong International Arbitration Center, the China International Economic and Trade Arbitration Commission and the Singapore International Arbitration Centre constitute the main arbitral institutions in the region, institutions such as the Kuala Lumpur Regional […]
Arbitrator Independence: Arbitrator Convicted to Prison for a False Statement of Independence
Arbitrator independence is always important, but a court in Malaysia has gone further than usual in convicting an arbitrator to prison for making a false statement of independence. A British arbitrator was sentenced to six months in prison for making a false declaration of independence, as reported by the Global Arbitration Review. According to the Malaysian […]
Third-Party Funding In Asia
Recently, a client asked whether third-party funding was legal in Asia. Jana Karam helpfully compiled the following information, which shows that third-party funding is permissible in the vast majority of jurisdictions, but not in China or Singapore, where it is clearly not allowed. Below is a review of the current status of third-party funding in […]