A Global Perspective on Availability of Security for Costs and Claim in International Arbitration Mirage or Oasis?

Security for costs and security for claim are interim protective measures available during an arbitration. They are sought when one side is concerned that the other side may not have enough money to pay an adverse costs order or satisfy an award made against it. They require the party against whom they are ordered to set aside a sum of money to satisfy any eventual award or costs order. In theory, they are available under most arbitral rules but in practice they can be difficult to obtain in international arbitration. In this article, Elaine Wong and Gitta Satryani in Tokyo and Singapore respectively, and Chris Parker and Liz Kantor in London, draw on their recent experiences to consider the "optimum" conditions for seeking and obtaining these interim reliefs.