Towards a Transnational Standard for Security for Costs in International Commercial Arbitration

International commercial arbitration is the most preferred method of resolving transnational commercial disputes, bringing together participants from every legal tradition and many nations. Security for costs is one of the more frequent interim measures within international commercial arbitration yet is one of the most controversial, said to be a vexed issue at the forefront of the clash of cultures inherent in international arbitration. No transnational standard has emerged for determination of applications for the measure, with some tribunals requiring exceptional circumstances and others, to be discerned only from the statistics, appearing to take a more liberal approach. This dissertation proposes a transnational standard to be applied throughout international commercial arbitration for such applications.