Following on from our earlier blog post, on 9 September 2013 ISDA issued a press release announcing the official publication of the 2013 ISDA Arbitration Guide now available from the ISDA bookstore. The Guide provides guidance on the use of an arbitration clause with either the ISDA 2002 or 1992 (Multicurrency-Cross Border) Master Agreement and includes a wide choice of arbitral seats in:
- New York;
- Hong Kong;
- Switzerland; and
- The Hague.
The model clauses will provide a greater variety of arbitral forums beyond the traditional choice of the English and New York courts. These are contained in Appendices A-G and are intended to replace the jurisdiction clause set out in Section 13(b) of the Schedule to the Master Agreement with an agreement to arbitrate disputes. The final version of the Arbitration Guide also highlights some additional features which parties may consider including themselves, such as fast-track provisions.
The publication of the ISDA Arbitration Guide is a welcome addition to ISDA’s series of documents for derivative transactions and reflects the growing trend towards the use of arbitration in the financial sector.Contact Us