The following Arbitration guidance note Produced in partnership with Peter Chow & Felicia Cheng of Squire Patton Boggs (Hong Kong) provides comprehensive and up to date legal information covering:
Whether a tribunal can order a claimant to provide security for the costs of an arbitration will depend on the powers conferred on the tribunal. Such powers may be provided for by the Hong Kong Arbitration Ordinance, Chapter 609 (AO) and/or institutional arbitration rules or ad hoc arbitration rules. Note:
institutional rules generally give the tribunal the discretion to grant an order for interim relief
in ad hoc arbitrations, where the parties make their own arrangement without reference to an institution for that institution's rules or supervision, the parties can agree on specific rules, the most popular being the UNCITRAL Arbitration Rules (UNCITRAL Rules)
Pursuant to AO, s 56(1)(a), a tribunal can order a claimant to provide security for costs and must, when making such an order, specify the time within which security is to be provided. Such time may be extended. If security is not provided within the time ordered or extended, the tribunal may dismiss or stay the claim (AO, s 56(3) and (4)). If the tribunal orders a stay (as opposed to dismissal) as the sanction for failure to provide security by the time specified, this means the claim can be revived by the provision of security at a later date. By requiring the tribunal to provide for a time
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234