And the GAR Innovation Award goes to … HKIAC
27 February 2015
After Birdman’s triumph at this year’s Oscars, HKIAC was a big winner at last night’s Global Arbitration Review (GAR) Awards, arguably the Oscars for the arbitration community! HKIAC took home the award for “innovation by an individual or organisation in 2014” and saw two of its events nominated for the category of best speech of the year.
HKIAC is thrilled to represent the Asia-Pacific region in winning a GAR award this year and to also receive the highest number of nominations amongst all Asian contenders.
The innovation award recognises HKIAC’s achievements in developing innovative arbitration practices last year, particularly its inclusion of a choice of law provision in its model clauses and the introduction of a tribunal secretary service allowing an arbitral tribunal to appoint a member of the HKIAC Secretariat as its secretary.
HKIAC’s model clauses contain specific wording to prompt parties to consider designating an appropriate law to govern their arbitration agreement – a development that has been described by leading arbitrators and practitioners as “forward-thinking” and “opportune.” The model clauses are one of a kind and have already driven many lawyers to advise their clients to include the suggested wording in their contracts.
The tribunal secretary service makes HKIAC Secretariat members available to act as secretary to arbitral tribunals in HKIAC or ad hoc arbitrations in an effort to save time and costs for parties and to provide useful insights on HKIAC arbitral procedures. HKIAC has also published an accompanying set of guidelines containing detailed provisions regarding the appointment, removal, remuneration and duties of tribunal secretaries. The introduction of the service and guidelines has greatly increased HKIAC’s appeal for commercial and investor-state disputes and sets another precedent of best practice in international arbitration.
HKIAC plays a leading role in developing innovative practices to address the evolving needs of users of arbitration. For this reason, HKIAC has regularly featured at the GAR awards. Last year, HKIAC's 2013 Administered Arbitration Rules were nominated for best development and the provision offering parties a unique choice to remunerate the arbitral tribunal received a nomination for best innovation of 2013. In GAR’s recent survey of hearing centres, HKIAC was voted among the top four in the world. These achievements reflect HKIAC’s cutting-edge capabilities in the provision of first class dispute resolution services and affirms HKIAC’s position as a world leader in innovative arbitration practices.
Winning a GAR award this year could not be more timely as HKIAC celebrates its 30th anniversary, and that this award was won for innovation recognises that HKIAC is at the cutting edge of international arbitration as it has been since it opened in 1985. We hope you will join us to celebrate this award and our 30 years in the arbitration field at our exciting events this year :
- HK Summit 2015 (12 – 14 May)
- HKIAC Mid-year Celebration Dinner (07 July)
- HKArbWeek 2015 (26 – 29 October)
Stay connected to all HKIAC developments and news at www.hkiac.org.
Hong Kong International Arbitration Centre
Tel: (852) 2525 2381
Fax: (852) 2524 2171