​Arbitration Interim Measures: Safeguarding the Parties and Achieving Fairness

Arbitration Interim Measures: Safeguarding the Parties and Achieving Fairness
 
While parties are in arbitration, they might ask for interim remedies to maintain the status quo or avert irreparable damage. They are court orders that national or international courts or arbitral tribunals may issue. Temporary measures include freezing assets, preserving evidence, and imposing a temporary injunction. The court or tribunal can issue an interim measure, and the repercussions of failing to follow an interim measure may be severe.
 
 
Interim Measures of Many Types
 
In arbitration procedures, many forms of interim measures may be proposed. Cost security, discovery, evidence preservation, and temporary relief are common examples. Security for costs, for example, might guarantee that a party can collect its expenses if the proceedings are successful. When it comes to difficult factual concerns, the discovery might be crucial. Evidence preservation might be essential when there is a possibility that vital evidence may be lost or destroyed before trial. The provisional remedy may be required where there is a danger of irreparable damage if relief is not provided temporarily.
 
How are Interim Measures Decided?
 
When requesting interim remedies, the party must make a prima facie argument that the action is required to maintain the status quo or to avoid irreparable damage. In deciding whether to award the measure, the tribunal will consider various issues, including the parties' representations, applicable legislation or precedent, and the requirements of justice in the specific case. If an interim measure is allowed, it may be subject to requirements for execution. Failure to comply with an interim measure may result in harsh repercussions such as fines, damages, or even imprisonment in extreme situations.
 
Common Interim Measures
 
In arbitration procedures, frequent interim remedies include
choosing an arbitrator,
mandating the disclosure of papers,
freezing assets,
preserving evidence, and
granting a temporary injunction.
When the parties cannot agree on who should act as arbitrators, an arbitrator must be appointed. The court will designate an unbiased arbitrator with the appropriate credentials to hear the dispute. Document disclosure may be ordered if one party feels the other is suppressing important information. Freezing assets might be useful if one party is concerned that the other side will dispose of assets subject to arbitration. Lastly, a temporary injunction may be warranted if a party faces irreparable loss if interim relief is not granted.
 
Generally, interim measures are an essential part of arbitration processes. They may assist in guaranteeing justice and defending the rights of all parties concerned. Nonetheless, the decision to provide interim measures is made with seriousness, and parties should be prepared to justify why such remedies are required. Parties may navigate the arbitration process more efficiently and reach a fair and reasonable settlement to their dispute if they understand the various sorts of interim measures and how they are chosen.