On 18 November 2016, the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) announced that the SCC Board had approved the proposed new 2017 Arbitration Rules. They will enter into force on 1 January 2017.
The 2017 Arbitration Rules contain a new Appendix III relating to “Investment Treaty Disputes”. Among other things, Appendix III includes extensive provision for third party intervention in treaty arbitrations. For example, it provides that: (i) third parties may apply to a tribunal for permission to make a written submission in the arbitration; and (ii) the tribunal may, after consulting the disputing parties, proactively invite a third party to make a written submission on a material factual or legal issue. It also permits a tribunal to “allow or, after consulting the disputing parties, […] invite, submissions on issues of treaty interpretation that are material to the outcome of the case from a non-disputing treaty Party”.
Article 38 of the 2017 Arbitration Rules contains another noteworthy development for treaty arbitrations. It provides tribunals with an explicit power to order, in exceptional circumstances and at the request of a party, any claimant or counterclaimant to provide security for costs.
For the final draft of the SCC 2017 Arbitration Rules, click here.