The settlement of disputes by arbitration is an important feature of the domestic commercial and legal landscape. The primary objective of modern arbitration is the fair, prompt and cost effective determination of any dispute in a manner that is proportionate to the amounts in dispute and the complexity of the issues involved.
To ensure that objective is met in the context of domestic arbitration, NZDRC has developed a suite of Arbitration Rules that are robust and certain, yet innovative in their commonsense approach to the arbitration process.
The Rules are intended to give parties the widest choice and capacity to adopt fully administered procedures that are fair, prompt and cost effective, and which provide a proportionate response to the amounts in dispute and the complexity of the issues involved.
Unless otherwise agreed by the Parties in writing, for an arbitration administered under NZDRC’s Rules, the standard Arbitration Rules will apply to all arbitrations in which the claim is for an amount greater than or equal to NZ$2.5M.
Where the claim is for an amount less than $2.5M, or the Claimant is seeking declaratory relief only, the Arbitration will be governed by the relevant NZDRC Expedited Arbitration Rules, namely:
- where the claim is for an amount less than NZ$250,000, or the Parties are seeking declaratory relief only, the NZDRC ECA45 Arbitration Rules will apply;
- where the claim is for an amount greater than or equal to NZ$250,000 and less than NZ$1.0M, the NZDRC ECA60 Arbitration Rules will apply; and
- where the claim is for an amount greater than or equal to NZ$1.0M and less than NZ$2.5M, the NZDRC ECA90 Arbitration Rules will apply.
For more information on each of these options and to access a copy of the relevant Rules, please select from the below: