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Article: International Commercial Arbitration in Bermuda.
- Article from:
- Mondaq Business Briefing
- Article date:
- April 28, 2003
- Author:
CopyrightCOPYRIGHT 2003 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Article by Rod S. Attride-Stirling and Jai Cedenio
Introduction
In Bermuda, there exist two separate legal regimes for arbitration:
The Arbitration Act 1986- applies to domestic arbitrations ie. those arbitrations that are not within the scope of Art.1 of the Model Law.
The Bermuda International Conciliation and Arbitration Act 1993 ("BICA'93) - enacts the UNCITRAL Model law and applies to any "international commercial arbitration" held in Bermuda, unless the parties agree otherwise. S29 allows for the parties to opt out of BICA'93 by agreement.
The text of the Model law can be found in Schedule 2 of Part III of the Act.
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