Cybersecurity in international commercial arbitration (Legal vision)

Abstract

Attracting foreign investment requires assurances from states to safeguard against infringements and losses. Arbitration serves as a crucial factor in enticing investors. However, for arbitration to be effective, ensuring information security is imperative. Maintaining confidentiality and preventing disclosure are vital, yet they pose challenges. International experiences indicate that companies might accept unjust settlements to prevent revealing their trade secrets. To tackle these obstacles, various arbitration bodies have endeavored to establish legal mechanisms for ensuring information security. This involves targeting individuals involved in arbitration proceedings and enhancing technical infrastructure. For instance, the International Council for Arbitration (ICCA), in collaboration with the New York State Bar Association (NYSBA) and the International Institute for Conflict Prevention and Resolution (CPR), devised an Electronic Security Protocol for Commercial Arbitration. These initiatives aim to shield participants in international commercial arbitration from the risks of divulging sensitive information due to breaches in information security. The protocol offers a framework of guidelines for arbitrators and parties on safeguarding confidential information throughout the arbitration process. It encompasses aspects like confidentiality agreements, data protection, access control, security measures for electronic devices and data, and procedures for handling incidents. By adhering to these guidelines, arbitrators and parties can uphold the protection of confidential information, thus ensuring that international commercial arbitration remains a secure platform for dispute resolution.