- The Honourable House is being asked to note that an Arbitration Bill will shortly be laid before Parliament.
The Honourable House is being asked to note that an Arbitration Bill will shortly be laid before Parliament.
The Bill seeks to repeal and replace the Arbitration Act 1900 with more modern legislation that is intended to provide an effective non-judicial mechanism for settling disputes between contracting parties.
The Arbitration Bill 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.
With the passing of this Bill, Jamaica will join the large number of countries that have adopted the Model Law and as such, will benefit from the internationally agreed best
practices that are disseminated and promoted by UNCITRAL on an on-going basis.