IBA President David W. Rivkin calls for a new contract
The SCC is pleased to make available the recent keynote address by IBA President and SCC vice chair Mr. David W. Rivkin, delivered at this year’s Hong Kong Arbitration Week.
In his speech titled A New Contract between Arbitrators and Parties, Mr. Rivkin offers an analysis of the current situation, as well as suggestions for change aimed to improve time and cost efficiency in the arbitral process; changes deemed valuable also to address current concerns and criticism of international arbitration, not least in an ISDS context. In his speech, Rivkin finds:
“I believe that many concerns about international arbitration can be resolved if we focus more on what the parties and counsel expect from the tribunal and what the tribunal expects from the parties and their counsel. We need a new contract between the arbitrators and the parties that will establish these expectations from the start. [---] The contract could also be mutual; it could focus not just on the arbitrators’ commitments but also the parties”
The full speech, published with the kind permission of Mr. Rivkin, is available here:
The HKIAC Arbitration Week was held 26 – 29 October in Hong Kong.