Meaning
Specific provision governing the power of an arbitral tribunal to grant provisional orders for the protection of property or evidence. Recourse to lcia rules article 26 allows a party to seek an injunction without waiting for the final resolution of the merits. The tribunal issues these orders in the form of a procedural direction or an interim award.
Procedural Power
Authority of the arbitrators to act under this rule begins as soon as the panel is fully constituted. Before this stage, lcia rules article 26 provides for the appointment of an emergency arbitrator to handle urgent requests. This mechanism ensures that the ability to secure a remedy exists at every phase of the dispute.
Relief Scope
Orders issued under this provision can require a party to provide security for the legal costs of the other side. Application of lcia rules article 26 also covers the preservation of perishable goods or the maintenance of sensitive digital records. The tribunal considers whether the harm to the applicant outweighs the inconvenience to the respondent.
Tribunal Order
Compliance with the decision is expected as part of the contractual agreement to arbitrate under the institutional rules. Failure to obey an order issued under lcia rules article 26 results in negative inferences during the final hearing or potential sanctions. National courts provide the necessary power to enforce these temporary measures if the party refuses to cooperate.
