Confidentiality and transparency in international arbitration: finding the right balance
Date
2021-01
Authors
Ibrahim, Benazir
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
Confidentiality and Transparency are both cardinal principles of International Arbitration. They are both vital aspects that are required in order to ensure the procedural integrity of the arbitral process is upheld. However, they are seen as opposing principles within the arbitration realm. Confidentiality is seen as one of the main reasons why arbitration is attractive especially to private parties as opposed to litigation. This is due to several reasons such as the need to protect the reputation of businesses, reducing public posturing, protecting sensitive information and several others.
Description
International arbitration (IA) is a conflict resolution mechanism through which parties agree to refer a conflict to an arbitrator to reach a final and binding solution. IA can be carried out either under institutional rules or ad hoc rules. Institutional regulations provide for pre- existing arbitration regulations and an appointing authority to form an arbitral tribunal and supervise other procedural matters. Ad hoc international arbitration is subject to arbitration arrangements between the parties and the relevant national arbitration legislation. International commercial arbitration (ICA) resulting from trade relations between private
parties, and investor-state arbitration (ISDS) resulting from multilateral or bilateral investment treaties between nations, are the two categories of IA discussed in this dissertation. Under both means of arbitration, confidentiality remains a vital element of the
proceedings.