News

Jamaica prepared for new arbitration law — Chuck

Wednesday, January 11, 2017 | 3:31 PM    

Print this page Email A Friend!


KINGSTON, Jamaica (JIS) – Minister of Justice, Delroy Chuck said the country is prepared for the advent of the new Arbitration Bill, with the launch of the Mona International Centre for Arbitration and Mediation (MICAM) in November.

“The launch of this centre will ensure that once the Bill is passed, there will already be an established and modernised venue to host arbitration disputes,” Chuck said.

He noted that MICAM will also be conducting several training programmes geared towards ensuring that Jamaica has a credible and well-trained cadre of arbitrators, who will join the illustrious panel of arbitrators that already exist worldwide.

“Arbitration can be a game changer in the settlement of commercial domestic disputes and a major source of foreign-exchange earnings from the settlement of international trade disputes,” Chuck said.


The minister was opening the debate on the Arbitration Bill in the House of Representatives on Tuesday.

The legislation, which will repeal the Arbitration Act of 1900, seeks to provide an effective non-judicial mechanism for settling disputes between contracting parties.  

It is based on the provisions of the Model Law published by the United Nations Commission on International Trade Law (UNCITRAL) and will operate in conjunction with the provisions of the Arbitration (Recognition and Enforcement of Foreign Awards) Act as well as the Investment Disputes Awards (Enforcement) Act.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

 

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

Do you agree with the Government's move to spend £410,000 to promote Jamaica at the 2017 London World Championships?
Yes
No


View Results »


ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT