The International Swaps and Derivatives Association
(ISDA) has revised its Guide to Arbitration (the
Guide). First published in 2013, after
considerable stakeholder consultation, the Guide includes an
explanatory memorandum which provides an overview of arbitration
for parties to derivatives transactions, and includes a broad
choice of model arbitration clauses (and guidance notes) for use
with both the ISDA 1992 Master Agreement and the ISDA 2002 Master
Agreement. The model clauses can be included in new Master
Agreements or can be included when amending an ISDA Master
Agreement.
The new version of the Guide is best described as an
enhancement, rather than a wholesale revision. It reflects
developments in the field of arbitration since the Guide was first
launched in 2013, such as the increasing availability of emergency
arbitration, and the possibility of early dismissal of claims and
defences. The Guide also now features model arbitration
clauses for various
