Kuala Lumpur Regional Centre For Arbitration Rules

1 where the parties to a contract have agreed in writing that disputes in relation to that contract shall be settled by arbitration in accordance with the rules for arbitration of the kuala lumpur regional centre for arbitration hereinafter referred to as the klrca then such disputes shall be settled in accordance with the uncitral arbitration rules subject to the modification set forth.

Kuala lumpur regional centre for arbitration rules. Formerly known as kuala lumpur regional centre for arbitration klrca. The kuala lumpur regional centre for arbitration was established in 1978 under the auspices of the asian african legal consultative committee an inter governmental organization with the assistance of the government of malaysia. In malaysia we have the asian international arbitration centre aiac formerly known as the kuala lumpur regional centre for arbitration. The centre is non profit and serves the asian and the pacific region.

Xxxi 98 adopted on the 15th december 1976 and has been widely accepted by the international community. Ii where the seat of arbitration is malaysia section 41 section 42 section 43 and section 46 of the malaysian arbitration act 2005 amended 2011 shall not apply. The rules for mediation conciliation of the kuala lumpur regional centre for arbitration hereinafter referred to as rules shall be the uncitral conciliation rules as modified in accordance with the rules set out below. Drawing from the centre s vast experience and potential it took on a new name in 2018 rebranding to the asian international arbitration centre aiac.

The rules for arbitrations under the auspices of klrca are the uncitral arbitration rules of 1976 as modified and adopted by the rules of regional centre of arbitration kuala lumpur. Aiac is malaysia s very own hub for alternative dispute resolution. There are many arbitration institutes to choose from. Where the parties to any contract business arrangement or transaction which are premised on the principles of shariah have agreed in writing that disputes arising or clarifications required therefrom shall be settled by arbitration in accordance with the rules for arbitration of the kuala lumpur regional centre for arbitration islamic banking and financial services.

Administered by the kuala lumpur regional centre for arbitration hereinafter referred to as klrca in accordance with the rules. The uncitral rules have been recommended by the united nations general assembly by its resolution no.