Global economic and supply chain pressures caused by the pandemic have not only led to an increasing numbers of international arbitrations, but an increasing number of emergency arbitrations as well, particularly in the life sciences, technology, and hospitality sectors. This article examines some of the key benefits that emergency arbitration offers in cross-border disputes, as well as some of the enforcement challenges that emergency awards can face.
Background
Emergency arbitration, which is now an option under all well-known international arbitration rules, is an invaluable tool that allows parties to get fast interim and conservatory relief from an emergency arbitrator before a full merits tribunal is appointed, which can frequently take several weeks or months. The virtual process, which does not rely on physical appearances in national courts that are subject to closures and backlogs for a variety of reasons, can oftentimes be concurrently enforced in multiple jurisdictions around the globe under the 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), and can therefore have significantly greater reach than a national court judgment granting similar relief. Consequently, emergency arbitration offers an excellent solution when parties need quick, confidential relief, particularly when they need that relief in more than one jurisdiction, and particularly when any one of those jurisdictions is facing delays caused by COVID-19.
Key Features
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