Commercial international arbitration is a popular alternative dispute resolution method for resolving commercial disputes across borders. One of the fundamental principles of international arbitration is transparency, which refers to the openness of the arbitration process. Transparency is essential for ensuring the integrity of the arbitral process and increasing public confidence in international arbitration.
The latest news in commercial international arbitration regarding transparency concerns the release of the Mauritius Convention on Transparency. This convention was adopted by the United Nations Commission on International Trade Law (UNCITRAL) in December 2020 and entered into force on 18 April 2021. The Mauritius Convention on Transparency is a significant development in international arbitration because it aims to increase transparency in investor-state disputes by requiring parties to publish certain documents related to the arbitration. Specifically, the convention requires parties to publish the notice of arbitration, pleadings, transcripts of hearings, orders, awards, and decisions of the tribunal.
The adoption of the Mauritius Convention on Transparency is part of a broader trend towards increasing transparency in international arbitration. In recent years, there has been a growing recognition of the importance of transparency in international arbitration. This recognition has led to the adoption of various initiatives aimed at increasing transparency in the arbitral process.
One such initiative is the Equal Representation in Arbitration Pledge (ERA Pledge). The ERA Pledge was launched in 2016 and aims to increase the number of women appointed as arbitrators in international arbitration. The ERA Pledge also requires signatories to promote transparency in international arbitration by making public the composition of arbitral tribunals and publishing awards and decisions.
Another initiative aimed at increasing transparency in international arbitration is the International Bar Association’s Guidelines on Party Representation in International Arbitration. These guidelines, which were published in 2013, aim to promote transparency in the selection and conduct of counsel in international arbitration. The guidelines recommend that parties disclose the identity of their counsel and the extent of their involvement in the arbitration.
Looking to the future, it is expected that there will be continued efforts to increase transparency in commercial international arbitration. For example, UNCITRAL is currently working on a project to develop a code of conduct for arbitrators and a model law on the recognition and enforcement of interim measures in international arbitration. Both of these projects are expected to promote transparency in international arbitration.
In conclusion, transparency is a crucial principle in commercial international arbitration. The adoption of the Mauritius Convention on Transparency is a significant development in international arbitration, and there are other initiatives aimed at increasing transparency in the arbitral process. Looking forward, it is expected that there will be continued efforts to increase transparency in international arbitration, which will promote the integrity of the arbitral process and increase public confidence in international arbitration.