Bahrain has launched a Chamber of Dispute Resolution. The country becomes the first jurisdiction to create an arbitration “free zone” and introduce the concept of statutory arbitration as the Middle East Kingdom aims to become a new centre for international arbitration.
The Chamber, a venture between Bahrain’s Ministry of Justice and the American Arbitration Association, is called the BCDR-AAA.
Bahrain Minister of Justice, Sheikh Khaled bin Ali Al Khalifa, said: “The BCDR-AAA will provide these users, including Bahrain’s legal community, international legal firms, multi-nationals and governments contracting in the Gulf and beyond, with a purpose-built solution for the rapid, effective and certain resolution of commercial disputes
Under new legislation, international disputes heard at the BCDR will see the parties bound by the outcome and the award will be guaranteed and not subject to challenge in Bahrain. The country has also introduced the concept of statutory arbitration for commercial and financial disputes regarding cases over BHD500,000 ($1.3m).
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