Case study—SIAC (2016)—Application for security for costs
Case study—SIAC (2016)—Application for security for costs

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

  • Case study—SIAC (2016)—Application for security for costs
  • Parties

SIAC ARBITRATION NO [INSERT NUMBER] OF 201[ ]

IN THE MATTER OF AN ARBITRATION

Parties

  1. 1

    WEIPA RESOURCES LIMITED

  2. Claimant

and

  1. 2

    SELANGOR RESOURCES SDN BHD

  2. Respondent

APPLICATION FOR SECURITY FOR COSTS

Orders sought

  1. 1

    This is the Respondent’s application for the following orders:

    1. 1.1

    2. That the Claimant provide security for the Respondent’s costs of the arbitration proceedings in the sum of [insert amount];

    3. 1.2

      That the Claimant provide the Respondent with the said security by way of [insert details of the form in which security is sought, eg banker’s draft/bank guarantee/solicitor’s undertaking];

    4. 1.3

      That these arbitration proceedings, and all procedural and administrative timelines in these arbitration proceedings, be suspended pending the provision of the security; and

    5. 1.4

      That in the event the Respondent fails to provide the security in accordance with subparagraph (1.2) above by [insert date], that [set out consequences].

  2. 2

    The principal grounds relied on for the application are: