One Size Fits All? Transparency in Investment and Commercial Arbitration

Abstract

The debate of increasing transparency in investment arbitration is reaching the shores of international commercial arbitration. Some suggestions to use transparency rules across arbitral proceedings, including disputes on strictly commercial matters, bring about a necessary reappraisal of the purpose and underlying idea of transparency in different fields of law. The hybrid nature of investment arbitration may justify the recent trend of more open procedures, whereas the principle of party autonomy in international commercial arbitration seems to outrun the calls for more transparency. Arguably, commercial arbitration cases involving some public interest might demand more transparency; however, a ‘one-size-fits-all’ approach must be avoided.