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21/11/23
Bahamas: Pioneering Developments In Arbitration
The Bahamas is witnessing a paradigm shift in economic and social development. This article explores the latest trends and developments across three key domains: The International Western Hemisphere Arbitration, Adjudication, and Mediation Centre’s (IWHAAM) pivotal role, the impactful Annual Arbitration and Investment Summit, and the advocacy efforts of the Commonwealth Lawyers Association (CLA).
IWHAAM: Pioneering Dispute Resolution For National Growth
At the heart of the Bahamas' journey towards a robust dispute resolution culture lies IWHAAM. IWHAAM's mission transcends the mere provision of appropriate dispute resolution services. It seeks to be an ‘Atlantic tiger’, a catalyst for economic and societal upliftment.
IWHAAM's objectives represent a quantum leap forward, encompassing international commercial arbitration, construction adjudication, domestic arbitration, and various forms of dispute settlement. It is not merely a top-down initiative but a ground-up, inclusive social enterprise, involving diverse sectors of society. Nineteen directors, elected from civil society's wide spectrum, underscore its neutrality and independence.
Central to IWHAAM's mission is raising public awareness about the benefits of Appropriate Dispute Resolution (ADR). Collaborating with prestigious institutions like the Chartered Institute of Arbitrators and the University of the Bahamas, IWHAAM provides comprehensive training. Its services, marked by competitiveness, affordability, and cost-effectiveness, ensure accessibility across all strata of society.
In the 21st century, the emphasis on resolving disputes efficiently and peacefully is paramount. IWHAAM plays a pivotal role in reducing case backlogs, preventing delays, and averting job losses, particularly in construction and other vital sectors. Beyond economic implications, IWHAAM contributes to the country's ease of doing business ranking, attracting new investments and fostering sustainable growth.
IWHAAM's commitment extends to addressing social issues, particularly youth crime. Through restorative justice, IWHAAM aims to break the factory line of young offenders entering the prison system. By educating young minds in schools about peaceful negotiation and peer mediation, it strives to create a generation adept at resolving disputes without resorting to violence or disorder.
Annual Arbitration & Investment Summit: A Catalyst For Regional Advancement
Hosted by Peter D. Maynard Counsel & Attorneys, the Annual Arbitration and Investment Summit stands as a dynamic platform fostering discussions on industry trends. Specifically tailored for the Caribbean, Latin America, and other emerging markets, the summit has emerged as a pivotal event in the ADR and investment sector.
The summit features leading speakers in ADR and investment engaging in exciting discussions. These expert insights contribute to shaping the trajectory of dispute resolution and investment strategies in the region. The event's regional focus ensures relevance to the unique challenges and opportunities present in the Caribbean, Latin America, and other emerging markets.
Commonwealth Lawyers Association: Upholding The Law Through ADR Advocacy
The Commonwealth Lawyers Association (CLA) adds another layer to the Bahamas' influence in the realm of dispute resolution. As a non-profit association, it is committed to maintaining and promoting the Rule of Law throughout the Commonwealth.
CLA ensures that an independent and efficient legal profession, characterised by the highest standards of ethics and integrity, serves the people of the Commonwealth. Its dynamic network draws members from all 56 Commonwealth nations, creating a robust community of legal professionals.
The CLA's recent endeavours through its ADR Committee exemplify its commitment to advancing dispute resolution practices. Recommending the signing of the Singapore Convention on the automatic enforcement of settlement agreements, the CLA actively contributes to creating a harmonised and efficient international ADR framework.
Leading The Charge In Global Dispute Resolution
The Bahamas, through IWHAAM, the Annual Arbitration and Investment Summit, and the Commonwealth Lawyers Association, emerges as a leader in global dispute resolution trends and practices. As these entities collaborate, innovate, and advocate, they contribute not only to the nation's growth but also to the broader global community's understanding and implementation of effective dispute resolution mechanisms.
Peter D. Maynard, PhD, FCIArb
Peter D. Maynard is Senior Partner at Peter D. Maynard Counsel & Attorneys, A full-purpose commercial
firm located in Nassau, Bahamas. He is also Head of the Law Department at University Of The Bahamas. He is an Arbitrator and Mediator, and his work involves Asset Tracing And
Recovery. <br>
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Founder of The Annual Arbitration & Investment Summit 2013 – 2020 and Chair, Chartered Institute Bahamas Branch 2018 - 2019. Former member of the LCIA Counsel for Latin America and the Caribbean; Former Legal Advisor of the Ministry of Foreign Affairs Bahamas. Former economist, United Nations, New York; Guest Scholar, Brookings Institution, Washington DC; Former Acting Justice of the Supreme Court of The Bahamas.
