Malaysia - Official Release Of The KLRCA Arbitration Rules 2017.
Legal News & Analysis - Asia Pacific - Malaysia - Dispute Resolution
5 June, 2017
The Kuala Lumpur Regional Centre for Arbitration (KLRCA) is pleased to announce the official release of the KLRCA Arbitration Rules 2017 (the "Rules”). The Rules, which come into effect on 1st June 2017, was last revised in 2013.
The revision of the Rules comes in line with the Centre's need to keep up with the rapidly evolving nature of the arbitration regime, whilst remaining competitive and efficient. The primary rationale behind the revision of the Rules is optimization of costs and duration of the KLRCA administered arbitration proceedings, and improvement of quality of arbitral awards.
Some of the key highlights of the Rules are as follows:
- A guide to the KLRCA Arbitration Rules, which provides a comprehensive overview of the ten most relevant definitions used throughout the Rules;
- New provision on consolidation of disputes;
- Technical review of awards; and
- Provisions relating to appointment of emergency arbitrators
Simplified structure of fee schedule
The Rules, which are now available on the KLRCA website, will come into effect on 1st June 2017 and we wish to inform you accordingly.
For more information on the Rules, kindly send an email at email@example.com