What Is Third Party Funding? Third party funding is a procedure by which a third party to an arbitration provides financial means to a party whom lacks financial resources to initiate it. The funding provided will be used to cover the party’s legal fees and expenses related to an arbitration. In return, the funder receives […]
ICSID Arbitration Rules Draft Amendments Issued
It has been 12 years since the ICSID Arbitration Rules’ latest update. ICSID Arbitration Rules draft amendments were published earlier this month. One of the overall goals of the amendments is to increase efficiency. Another is to increase transparency, especially with respect to third-party funding. These amendments may constitute the most significant changes made to […]
Correction of Arbitral Awards in ICC Arbitration
To err is human, so the ICC Arbitration Rules provide for a special mechanism aiming to correct errors in arbitral awards. The correction of arbitral awards in ICC Arbitration is governed by Article 36 of the 2017 ICC Arbitration Rules, which reads: “Article 36: Correction and Interpretation of the Award; Remission of Awards 1) On its own […]
The 2018 Draft Netherlands Model BIT – The Beginning of a New Era?
The year 2018 may be an important milestone in international investment arbitration concerning the Netherlands due to the 2018 Draft Netherlands Model BIT (the ‘Draft’) . The Draft contains several completely new provisions, absent in the 2004 version, and provides a narrow vision of other provisions in comparison to their 2004 predecessors. We will discuss the […]
Choosing ICSID or UNCITRAL Arbitration for Investor-State Disputes
Should a foreign investor opt for ICSID arbitration or UNCITRAL arbitration when a choice exists? Foreign investors involved in a dispute with a host State of investment are often able to choose between initiating ICSID arbitration under the ICSID Convention or ad hoc arbitration under the UNCITRAL Arbitration Rules in order to resolve their investment dispute. This […]