24/06/20

How Caribbean Jurisdictions Can Compete With Larger International Arbitration Centres

Caribbean international financial centres (IFCs) are more than simply attractive places to seal a business deal over lunch at your favourite beachfront restaurant. These jurisdictions are positioning themselves to be venues for the satisfactory and efficient settlement of disputes when business deals go awry. International arbitration - where parties to a dispute elect for an arbitral tribunal to privately settle disputes between them without recourse to courts of law - has become a preferred dispute resolution method for claims arising from cross-border business transactions. Statistics published by the major international arbitration centres reveal a general upward trend in arbitration filings , and agreement to arbitration has become commonplace in international commercial contracts.