In this Q&A article with Asia Law Portal, the AIAC explains the unique significance of Asia ADR Week:
What is the Inaugural Asia ADR Week and what is its significance?
The Asia ADR Week, the Arbitration Week that is held annually, is the highlight event of the Asian International Arbitration Centre (AIAC). This year’s edition is especially more significant because it would be the Centre’s very first installation under its newly rebranded identity, AIAC. The Centre was formerly known as the Kuala Lumpur Regional Centre for Arbitration (KLRCA).
The Asia ADR Week puts Asia first in this year’s edition. The Asian economy is booming undeniably rapidly, and has been on a steady rise. With the Centre’s vast experience and expertise in the Asian region, a pivotal market for trade agreements, the Asia ADR Week 2018 creates out an apt platform to discuss Asian-centric ADR trends and economic developments.
The Inaugural Asia ADR week is hosted by the AIAC, which has recently been re-branded from KLRCA. What was the motivation behind the rebranding?
The Centre was rebranded, in commemoration of its 40th The Centre has grown to become a globally-recognised niche ADR hub. The Arbitration (Amendment) Act 2018 was passed and gazeted on 10th January 2018, signifying the name change which is part of a more extensive rebranding for the Centre, which aims to strengthen its regional footprint and presence further globally. The AIAC’S brand identity signals our continued passion to broaden boundaries beyond the horizon. The new identity will spearhead an era of development and expansion both for the Centre and the global ADR system.
On the third day, the Conference will be devoted to the construction industry. What is the significance of the construction adjudication to Asia?
- The Asian economy is on a steady rise with investments being injected by businesses from all over the world. Construction of infrastructure to accommodate foreign investments and the growth of national economy is also rising in Asia. Construction issues are increasing because of these circumstances was the special focus on construction-related ADR mechanisms.
- In Malaysia particularly, the growth of the construction industry has given rise to several construction-related disputes. To address these problems, the Construction Industry Payment & Adjudication Act 2012 (Act 746) (“CIPAA”) was enacted by the Parliament and came into operation on 15thApril 2014. CIPAA proceedings are a summary procedure intended to reduce payment defaults by establishing more cost-effective and speedier system of dispute resolution for construction contracts in respect of work done and services rendered. These proceedings provide for the recovery of payment upon the conclusion of the adjudication process.
- Since the inception of CIPAA, AIAC has administered over 1,400 adjudication cases with 2017 recording the highest number at 708 cases.
- The AIAC also conducts statutory adjudication training authority for those interested in becoming an adjudicator, and those involved in construction adjudication.
Who and how many are expected to attend the event?
Close to 400 ADR distinguished speakers and practitioners from within the region and beyond are expected to attend the ASIA ADR WEEK 2018. Legal practitioners, business leaders, academicians and just about anyone interested in investing in Asia are encouraged to attend the event.
Where can someone interested in attending find more information about the event?