SCC Arbitration Institute updates policy on disclosure of third parties in arbitration

Article summary

The Stockholm Chamber of Commerce (SCC) Arbitration Institute has updated its policy, effective 20 September 2024, requiring parties to disclose the identity of any third parties with a significant interest in the outcome of disputes. This disclosure must be made in the parties' first written submission and promptly for any new interested third parties during proceedings. The policy aims to enhance transparency and maintain arbitrator impartiality by ensuring that arbitrators consider this information when making declarations of independence and impartiality under Article 18 of the SCC Rules. This measure seeks to address potential conflicts of interest, prevent inadvertent appointments of conflicted arbitrators and reduce the risk of award annulment, thereby upholding the integrity of SCC arbitrations.