The Thai Arbitration Institute (“TAI“) is one of the most prominent arbitral institutions in Thailand. On 1 October 2021, amendments to its arbitration rules came into effect, providing for an expedited arbitration procedure (“expedited procedure“) in circumstances where:
- the parties to the dispute mutually agree to use the expedited procedure; or
- where the relevant arbitration agreement has been entered into after 30 September 2021 – the amount in dispute does not exceed Baht 5 million, and one of the parties to the dispute files a request to use the expedited procedure.
In this Update, we discuss and comment on the key features of the expedited procedure, namely (i) appointing a sole arbitrator; (ii) allowing for documents-only arbitrations; and (iii) shortening the timeframes for the close of proceedings and the issuing of the award.
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