SCC Arb SCC Arbitration Rules (2023)
SCC Arb
SCC Arbitration Rules (2023)
(1) The Arbitral Tribunal may, in exceptional circumstances and at the request of a party, order any claimant or counterclaimant to provide security for costs in any manner the Arbitral Tribunal deems appropriate.
(2) In determining whether to order security for costs, the Arbitral Tribunal shall have regard to:
(i) the prospects of success of the claims, counterclaims and defences;
(ii) the claimant’s or counterclaimant’s ability to comply with an adverse costs award and the availability of assets for enforcement of an adverse costs award;
(iii) whether it is appropriate in all the circumstances of the case to order one party to provide security; and
(iv) any other relevant circumstances.
(3) If a party fails to comply with an order to provide security for costs, the Arbitral Tribunal may stay or terminate the proceedings in whole or in part.
(4) Any decision to stay or to terminate the proceedings in whole or in part shall take the form of an order or an award.
Quelle: SCC
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