P.R.I.M.E Finance—appointing, challenging and replacing the tribunal
P.R.I.M.E Finance—appointing, challenging and replacing the tribunal

The following Arbitration guidance note provides comprehensive and up to date legal information covering:

  • P.R.I.M.E Finance—appointing, challenging and replacing the tribunal
  • Constitution of a tribunal by appointing authority
  • Composition of the arbitral tribunal
  • Failure to constitute an arbitral tribunal under the P.R.I.M.E. rules
  • Disclosure by arbitrators
  • Challenge of arbitrators
  • Replacement of an arbitrator

The P.R.I.M.E. arbitration rules (the P.R.I.M.E. rules) make provision for the appointment process of a three person arbitral tribunal, a sole arbitrator and any other composition agreed by the parties. The P.R.I.M.E. rules also define the process of constituting a tribunal by an appointing authority, arbitrators’ duty of disclosure and the challenge and replacement of arbitrators.

Constitution of a tribunal by appointing authority

Depending on the provisions made by parties in their arbitration agreements, an appointing authority may be required for the appointment of a sole arbitrator or constitution of an arbitral tribunal. A feature of the P.R.I.M.E. rules is the provision that the Secretary-General of the Permanent Court of Arbitration (PCA) in The Hague may act as the appointing authority in certain circumstances. Under article 6, a party may request that the Secretary-General acts as the appointing authority if the parties have not otherwise agreed on the choice of an appointing authority by the time of the commencement of the arbitration. Where a party asks an appointing authority to appoint a sole arbitrator, arbitral tribunal or replacement arbitrator, the party must send copies of the Notice of Arbitration and any Response to the Notice to the appointing authority (art 6(3)).

In making its decision, the appointing authority may require relevant information from any of the parties and the proposed arbitrators