Security Measures in International Commercial Arbitration: Matters of Law and Validity

Interim measures are considered to be a safeguard hampering an unfair defendant to evade responsibility. After the application of provisional measures, the defendant loses the right to dispose of his assets that make it possible to enforce the judgment if it shall be rendered against the defendant. Legislation of many countries, including Ukraine, UNCITRAL Model Law on International Commercial Arbitration, and arbitration rules of many instituted arbitrations comprise rules giving the arbitrations the right to grant interim measures. It’s generally accepted that the application to the court to order interim measures shall not be regarded as incompatible with the arbitration agreement and arbitration process. In Ukraine, the matters relating to interim measures are governed by the Law of Ukraine “On International Commercial Arbitration”, Regulations on ICAC at the Ukrainian CCI, and Arbitration Rules of ICAC at the Ukrainian CCI, though some provisions thereof are conflicting and inconsistent with each other. What is the nature of these discrepancies, what consequences follow from this fact, and how to tackle problems arising thereof – all the matters are envisaged icpdf in the present article.