THE AUSTRALIAN Centre for International Commercial Arbitration (ACICA) has proved it is a world leader after its arbitration rules were selected as the model rules for the world's largest international commercial arbitration competition.
In a global first, participants will be governed by ACICA's rules in the prestigious annual Willem C Vis International Commercial Arbitration Moot which commenced in Vienna on Saturday.
The moot encourages the resolution - via arbitration - of business disputes and is a melting pot of future leaders in the international law and international commercial arbitration sectors.
In a statement released this week, ACICA's president Professor Doug Jones AM expressed his pride in the selection.
"The nomination of the ACICA arbitration rules signals acceptance from the global arbitration community that Australia meets world's best practice," he said.
"The rules provide an advanced, efficient and flexible framework for the conduct of international arbitrations."
This year's moot has attracted 270 teams from 65 nations around the world, including Australian representatives University of Sydney, Deakin University, University of NSW, University of Technology Sydney, Griffith University and Victoria University.
At the event's welcome reception on Sunday, Australian Ambassador to Austria and the United Nations Michael Potts said, "The Australian Embassy in Vienna is a proud supporter of Australian participation at the moot and our nation's valued contribution to international commercial arbitration is recognised by the use of ACICA's Arbitration Rules."
Bjorn Gehle, special counsel with Clatyton Utz's International Arbitration Group, reflected on his past participation in the moot - in which he was successful with Germany's University of Munster in 1998 - and said, "The moot offers so many opportunities for aspiring arbitrators and advocates ...here you learn from the best."