Modern, comprehensive arbitration bill to set foundation for commercial arbitration – AG Nandlall

The modern comprehensive Arbitration Bill, set to position Guyana as an arbitration hub has been completed and is set to be tabled in the National Assembly soon.

Attorney General and Minister of Legal Affairs, Anil Nandlall, SC, made the disclosure during his weekly televised programme, Issues in the News.

He said the bill was extracted from the modern bill of the Caribbean, with significant additions to expand the depth and scope of the bill. It incorporates the key provisions of the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Arbitration, which has been approved by the CARICOM Secretariat for implementation by member states in the region.

Additionally, the bill has received reviews from international law firms, further adding to its credibility.

“This bill also permits international arbitral companies or companies that offer arbitration services, to locate in Guyana and operate under the bill. It allows for judiciary-driven arbitration, as well as for parties to decide between or among themselves to take their dispute for resolution by arbitration utilising the law,” he said.

The bill will facilitate the use of arbitration as a viable method of dispute resolution, as opposed to litigation.

Arbitration is a form of alternative dispute resolution that sees the parties involved in a dispute agreeing to have the case heard by one or more arbitrators, entrusted with making a legally binding decision on the matter.

Importantly, AG Nandlall explained that the Improved Access to Justice in the Caribbean Project (IMPACT Justice), a regional justice sector reform project, conducted a series of training workshops on arbitration in Guyana, based on the bill.

“It is the hope that once we can make Guyana self-sufficient in terms of arbitration, we would be able to move to the second stage, and refine the process and the infrastructure to such an extent that we would be an attractive destination for arbitration in relation to the Caribbean, Latin America, and even South America,” the AG added.

Earlier this year, the AG established an Arbitration Unit, comprising a diverse panel of representatives and stakeholders, including from the Private Sector Commission and The Bar Association of Guyana.

In addition to the crafting of the bill, training, and education endeavours within the area of commercial arbitration will continue to ensure that once enacted, the law can be effectively applied by local practitioners.

He noted that the government is in talks with the University of Guyana regarding potentially including courses in commercial arbitration in the Bachelor of Laws degree programme, to build capacity in handling cases of this nature.

 “More and more companies across the globe are choosing arbitration as the preferred method of resolving their commercial disputes. So, if they want to go to the court, we are building an efficient judicial system. If they want to go to arbitration, we are building an efficient, modern arbitration system as well. The first step in that direction is to get the law right, and I believe that we have the law here. We now have to begin the educational process, so we have an educated and qualified population to serve the sector,” he said.

According to the Attorney General, many of the international and commercial agreements governing ongoing projects in Guyana contain arbitration clauses as the desired mechanism for settling disputes.

“But, the seat of that arbitration is outside of Guyana. This bill, once it becomes law, hopefully will influence companies to change that approach, and situate Guyana as the seat to do their arbitration,” he explained.

The enactment of this legislation would facilitate job creation, and generate revenue.