UNCITRAL Adopts Transparency Rules in Investor-State Arbitration

In furtherance of the calls for transparency in Investor-State arbitration, UNCITRAL has come up with an independent Transparency Rules that could be adopted in Treaties in furtherance of transparency in Investor-State Arbitration. The Rules could be applied as stand alone rules or along with UNCITRAL Arbitration Rules. The Transparency Rules would come into force from 01.04.2014. Among other things, the Rules provide for creation of a repository of published information (Secretary General of the United Naitions of an Institution named by UNCITRAL). The Transparency Rules provide that the disputing parties shall communicate copy of the Notice invoking arbitration, pleadings, table of exhibits, transcripts of hearings of the dispute  to the Repository. This includes even submissions by third persons, such as amici curiae in such arbitrations. The said Rules obligate the arbitral tribunal to make logistical arrangements to facilitate public access to arbitral hearings. The Rules contain exceptions to transparency.

To incorporate this development in the UNCITRAL Arbitration Rules, 2010, para 4 has been inserted in Article 1 of the said 2010 Rules.

The Transparency Rules can be accessed from here. UNCITRAL's press release is available here.