For Immediate Release
ISDA Publishes the 2013 ISDA Arbitration Guide
LONDON, September 9, 2013 – The International Swaps and Derivatives Association, Inc. (ISDA) today published the 2013 ISDA Arbitration Guide.
The 2013 ISDA Arbitration Guide provides guidance on the use of an arbitration clause with the 1992 and 2002 versions of the ISDA Master Agreement. It includes a range of model arbitration clauses covering a number of institutions and seats of arbitration around the globe. The Guide is supplemental to ISDA User’s Guide and amends Section 13 of the ISDA Master Agreement. It provides the first comprehensive set of ISDA model arbitration provisions and can be used worldwide.
ISDA issued the Guide following an extensive consultation process with a diverse group of market participants. It has been prepared in response to a growing trend in derivatives trading over recent years to make use of arbitration as an alternative way of dispute resolution compared to the traditional choice of court litigation. This development is also owing to the growing diversity of counterparties and jurisdictions that are involved in derivatives trading globally. For example, in several jurisdictions the enforceability of arbitral awards might be more easily achievable than the enforcement of a foreign court judgment. This is particularly the case in emerging market jurisdictions. In response to this trend, ISDA sought to assist the broader market by providing model arbitration clauses tailored to the ISDA Master Agreement.
The 2013 ISDA Arbitration Guide is available in ISDA’s bookstore here.
For More Information, Please Contact:
Lauren Dobbs, ISDA New York, +1 212 901 6019, firstname.lastname@example.org
Rose Millburn, ISDA London, +44 203 088 3526, email@example.com
Donna Chan, ISDA Hong Kong, +852 2200 5906, firstname.lastname@example.org
Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA has over 800 member institutions from 60 countries. These members include a broad range of OTC derivatives market participants including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure including exchanges, clearinghouses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association's web site: www.isda.org.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.