HKIAC 2024 Rules: What You Need to Know

The Hong Kong International Arbitration Centre (HKIAC) has recently updated its Administered Arbitration Rules (the “2024 Rules”), which came into effect on 1 June 2024. The 2024 Rules introduce several key changes aimed to enhance the efficiency of the arbitration process, keep up with social norms, and make appropriate provision for the use of electronic communications in HKIAC arbitrations.

The 2024 Rules are a refined version of the already widely received 2018 Rules. With the introduction of significant amendments in 2018, such as early determination, third-party funding, emergency arbitration, and improvements on multiple contracts and arbitrations, the 2018 version has proven to be practical and effective, and there has been a steady increase in the number, amount, and diversity of HKIAC arbitrations over the years. With further refinement, the 2024 Rules will continue to be market-leading and serve as a sound foundation for the effective and efficient conduct of arbitrations.

This article discusses the key features and implications of the 2024 Rules.