Arbitration Rules
At NZIAC, we understand the importance of resolving disputes in a manner that is swift, fair, and cost-effective. Our innovative Arbitration Rules are designed with these principles in mind. They offer a robust, yet flexible framework for disputes of all scales and complexities.
Whether your dispute involves a claim greater than NZ$2.5M, or less than NZ$10,000, or you are seeking declaratory relief, we have the right arbitration rules to meet your needs.
Don't let disputes slow down your progress. Choose NZIAC's Arbitration Rules for a resolution that is as fair, prompt, and proportionate.
The settlement of disputes is an important feature of the global commercial and legal landscape. The primary objective of modern commercial arbitration is the fair, prompt, and cost effective determination of any dispute in a manner that is proportionate to the amounts in dispute and the complexity of the issues involved.
To ensure that objective is met in the context of international commercial arbitration, NZIAC has developed a suite of Arbitration Rules that are robust and certain, yet innovative in their commonsense approach to the arbitration process.
The Rules are intended to give parties the widest choice and capacity to adopt fully administered procedures that are fair, prompt, and cost effective, and which provide a proportionate response to the amounts in dispute and the complexity of the issues involved.
Unless otherwise agreed by the parties in writing, for an arbitration administered under NZIAC’s Rules, the standard Arbitration Rules will apply to all arbitrations in which the claim is for an amount greater than or equal to NZ$2.5 million.
Where the claim is for an amount less than NZ$2.5 million, or the claimant is seeking declaratory relief only, the arbitration will be governed by the relevant NZIAC Expedited International Arbitration Rules, namely:
- where the claim is for an amount less than NZ$250,000, or the claimant is seeking declaratory relief only, the NZIAC EIA60 Arbitration Rules will apply;
- where the claim is for an amount greater than or equal to NZ$250,000 and less than NZ$1 million, the NZIAC EIA90 Arbitration Rules will apply; and
- where the claim is for an amount greater than or equal to NZ$1 million and less than NZ$2.5 million, the NZIAC EIA120 Arbitration Rules will apply.
For more information on each of these options and to access a copy of the relevant Rules, please select from the below:
Whilst we would encourage all parties to arbitration proceedings to adopt the NZIAC Arbitration Rules, NZIAC can appointment arbitrators and administer any arbitration rules that the parties are bound to agree to be bound by. Adopting NZIAC Arbitration Rules is not a requirement for NZIAC to appoint arbitrators and administer the arbitration process.