BVI International Arbitration Center Opens
by Mike Godfrey, Lowtax.net, Washington
20 December, 2016
The British Virgin Islands International Arbitration Center has opened for business, following an earlier soft launch on November 16, 2016, which showcased the Center's offering to the public.
The Center, which was established under the British Virgin Islands Arbitration Act 2013, will provide support and facilities for international arbitration and mediation. The BVI hopes to create a regional center of choice for the arbitration of disputes arising out of business activity and projects worldwide.
The Center will administer arbitrations under its own rules. It will also offer premises and support services to users of "ad hoc" or other institutional arbitration, including financial administration, logistical and technical support for meetings and hearings, travel arrangements organization, and general secretarial and linguistic support.
While parties are free to nominate arbitrators of their choice, the Center will maintain a roster of highly regarded international arbiters and other dispute resolution practitioners, drawn from both common law and civil law jurisdictions, who will be able to offer arbitration in a number of languages including English, Spanish, Portuguese, Russian, Chinese, French, German, and Italian.
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