Perfect Engineering Consultancy recently participated in the prestigious Fifth Arab Arbitration Conference, a prominent platform dedicated to the latest developments in both Arab and international arbitration. The event serves as a significant forum for those invested in the field, promoting the localization of arbitration within the Arab region and fostering collaboration among experts.
The Fifth Arab Arbitration Conference Highlights:
One of the critical themes discussed at the conference was the introduction of new international guidelines and rules aimed at addressing the growing challenges in arbitration. These include the recently adopted Conflict of Interest Guidelines in International Arbitration by the International Bar Association Council (IBA) in May 2024, and the Rules of Conduct for Arbitrators in Investment Disputes, adopted by the United Nations Commission on International Trade Law (UNCITRAL) in December 2023. These rules are designed to enhance transparency by requiring arbitrators to disclose any potential conflicts that may affect their impartiality, thus allowing parties involved to make informed decisions.
In the face of unconscious bias, which can stem from arbitrators’ prior rulings, opinions, or public statements, these new measures aim to ensure higher levels of integrity in arbitration. Additionally, they address concerns about arbitrators showing favoritism toward the party that appointed them, a practice that has undermined trust in the arbitration process.In the face of unconscious bias, which can stem from arbitrators’ prior rulings, opinions, or public statements, these new measures aim to ensure higher levels of integrity in arbitration. Additionally, they address concerns about arbitrators showing favoritism toward the party that appointed them, a practice that has undermined trust in the arbitration process.
The conference also delved into the rising use of artificial intelligence (AI) in arbitration. AI is increasingly being employed in tasks such as contract review, case prediction, and even influencing arbitration panel decisions. While this technology offers efficiency, it also raises important questions regarding its impact on the role of human arbitrators and its potential risks.
Another significant point of discussion was the heightened competition between regional and international arbitration centers. Many centers are evolving their rules and regulations to meet the needs of their users, offering best practices in international arbitration and streamlining procedures. As a result, arbitration venues worldwide are vying to become leading hubs for resolving disputes by continuously advancing legislative frameworks and judicial interpretations.
Stay tuned for more updates as Perfect continues to be involved in shaping the future of arbitration and providing cutting-edge solutions to its clients.
