Security for costs has become an increasingly important procedural issue in investment arbitration. A respondent State may spend millions defending a treaty claim and, even after prevailing and obtaining a costs award, remain exposed to non-recovery where the claimant is insolvent or has few assets against which the award can be enforced. Security for costs […]
Security
Security for Claims in International Arbitration – Preble-Rish Haiti v. BMPAD
In international arbitration, security for claims, also called security for payment,[1] belongs to a category of interim or provisional measures that can be sought prior to the issuance of the final award. If granted by the arbitral tribunal, it consists in “a kind of advance payment designated to guarantee the payment and/or enforcement of the […]
