Senate Suspends Arbitration Bill Debate
By: , April 8, 2017The Key Point:
The Facts
- The Bill is intended to repeal and replace the Arbitration Act of 1900 by providing an effective non-judicial mechanism for settling disputes between contracting parties.
- The Bill was passed in the House of Representatives on January 24.
The Full Story
The Senate debate on the Arbitration Bill has been deferred to facilitate a review of the proposed amendments by Opposition members.
The Bill is intended to repeal and replace the Arbitration Act of 1900 by providing an effective non-judicial mechanism for settling disputes between contracting parties.
It is based on the guidelines 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 and the Investment Disputes Awards (Enforcement) Act.
The Bill was passed in the House of Representatives on January 24.
However, during the Senate’s sitting on Friday, April 7, several Opposition Senators indicated that they needed more time to thoroughly review the amendments.
Consequent on the Bill’s passage, Jamaica will join a 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.