Following a two year consultation process, on 23 October 2014 the International Bar Association (the “IBA”) approved revisions to its Guidelines on Conflicts of Interest in International Arbitration (the “Guidelines”). A copy of the Guidelines, which were published on 28 November 2014, can be found on the IBA website.
The Guidelines, first introduced in 2004, reflect best practice and aim to provide uniformity in the approach of arbitrators when faced with a conflict, or potential conflict situation, in international arbitrations.
Through the Guidelines, the IBA aims to promote the independence and impartiality of arbitrators – for example, when considering challenges to arbitrator appointments. In addition to the General Standards and explanations, the Guidelines contain Application Lists, designated Red, Orange and Green. These provide examples of specific situations that do, or do not, warrant disclosure by an arbitrator or the disqualification of an arbitrator.