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Launch of 2013 ISDA Arbitration Guide

23 September 2013
On 9 September 2013, the International Swaps and Derivatives Association, Inc. (ISDA) published the 2013 ISDA Arbitration Guide, which comprises several model arbitration clauses for use with ISDA's master agreements (the widely-used standard form for derivative transactions), as well as guidance on arbitration. The model clauses have been drafted following an extensive consultation process with ISDA members (such as financial institutions, law firms including Hogan Lovells, and arbitral institutions) and provide for several combinations of the governing law of the underlying agreement, seat of arbitration, and applicable arbitral rules.

This is a welcome development, which reflects the growing trend towards the use of arbitration as a means for resolving disputes in the financial services sector. This has been driven by several potential advantages of arbitration, in particular for the resolution of disputes involving parties in emerging markets, including the prospect of a neutral forum, the possibility of choosing specialist arbitrators, and the established mechanism for the enforcement of arbitral awards under the New York Convention.

For further details, please click here. The ISDA Arbitration Guide can be downloaded here.

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