By Sophie Hursthouse
Transparency International’s Corruption Perceptions Index 2019 has just been released, revealing the rankings of 180 countries and territories when analysed for perceived levels of corruption. The long-awaited report reveals New Zealand is again ranked as the least corrupt country in the world, alongside Denmark. With two thirds of countries scoring below 50 out of 100, New Zealand stands out as a clear leader in the region and globally.
What is common knowledge for those in the arbitration sector has been confirmed by the results: New Zealand provides an ideal, neutral and independent seat/venue for international dispute resolution. New Zealand’s fair and reliable justice system strengthens and supports international mediation and arbitration, so that any outcome is underpinned by access to fair legal practices.
The importance of the results cannot be overstated. They represent an irrefutable affirmation of the strong presence of the rule of law in New Zealand, a critical player in the reliable enforcement of arbitration and mediation outcomes.
With New Zealand’s well developed and trusted legal system, world class infrastructure, and ‘safe nation’ status, NZIAC is ideally positioned to become the Trans-Pacific Region’s premier forum to handle the expected growth in complex, cross-border commercial and investment disputes in the region.
For more information and to access the full report, click here.
NZIAC 2018 Arbitration and Mediation Rules
The publication of NZIAC’s 2018 Rules has been keenly followed on a global basis and are increasingly being adopted by commercially astute parties doing business in the Trans-Pacific Region and also more widely throughout the world.
The settlement of disputes by Arbitration, Mediation, Arb-Med, and other private forms of dispute resolution is an important feature of the global commercial and legal landscape.
NZIAC is committed to providing parties to international commercial disputes with the widest capacity to adopt dispute resolution processes and 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.
In recent times, delays in obtaining awards and the cost of international arbitration have made many cross-border disputes uneconomic for parties to pursue.
To redress that situation, NZIAC developed a new suite of rules, published in 2018, to govern the delivery of its international dispute resolution services that are robust and certain, yet innovative in their commercial commonsense approach to challenging issues such as appointment, urgent interim relief, expedited procedures, summary procedures for early dismissal of claims and defences, joinder, consolidation, multiple contracts, confidentiality, representation, mediation, arbitral secretaries, expert evidence, appeals, costs, and combining arbitration and mediation in a single unified Arb-Med process that ensures the principles of natural justice are observed and a just, final, and binding decision is made.
The Rules contain a number of visionary innovations intended to address the needs of the modern international business community for efficient and effective dispute resolution and to assert NZIAC’s position as the premier forum for the settlement of international trade, commerce, investment, and cross-border disputes in the Trans-Pacific Region.
The Rules provide both a framework and detailed provisions to ensure the efficient and cost effective resolution of disputes and reflect a modern and fresh approach to legal drafting. They are set out in a manner designed to facilitate ease of use and may be adopted by agreement in writing at any time before or after a dispute has arisen.
The Rules are tailored to meet the needs and requirements of global and regional commercial parties and are purposively directed to ensuring the resolution of international disputes in a manner that is efficient, cost-effective, and certain.
While the Rules have been developed in New Zealand, they are appropriate for use by parties from any country and may be applied in any jurisdiction through NZIAC.