SCC: 𝗠𝗼𝗻𝗲𝘆, 𝗺𝗼𝗻𝗲𝘆, 𝗺𝗼𝗻𝗲𝘆 🎶   The question of costs in arbitration continues to be a hot topic. On Thursday, 7 Nove...

𝗠𝗼𝗻𝗲𝘆, 𝗺𝗼𝗻𝗲𝘆, 𝗺𝗼𝗻𝗲𝘆 🎶   The question of costs in arbitration continues to be a hot topic. On Thursday, 7 November 2024, the SCC Arbitration Institute was delighted to host a breakfast seminar on the topic of security for costs with UNCITRAL: United Nations Commission on International Trade Law Secretary Anna Joubin-Bret, Monique Sasson, Faris Nasrallah, Jake Lowther moderated by Dr Crina Baltag, FCIArb.    The panellists shared their insights on the topic, with a deep dive into security for costs, its Roman origins, proposed ISDS reforms and of course the SCC's practice. 🏛   Among the key takeaways include:  - Security for costs is an "exceptional measure", but represents a tool for responding parties to address an "inequality of arms". - The tool may even be employed as a deterrent, or to sanction unreasonable conduct. - An application for security for costs may also bring the important question of costs into focus at a much earlier stage in the proceedings, and even anchor the costs of the arbitration.    We thank the panellists and the attendees for joining us!   Read the the SCC's Practice Note on Security for Costs here: https://lnkd.in/eTiV8v6F