Foreword
International arbitration is the preferred dispute resolution process for cross-border disputes, because arbitration awards are enforceable under the New York Convention in more than 148 countries around the world. Judgements of local domestic courts are not as readily enforceable, and in many jurisdictions, the judgement of a court from another jurisdiction cannot be enforced without a “re-run” of the trial.
The Government of Jamaica is committed to sustainable economic development, recognizing that investors need assurance that they are conducting business in an economically stable environment. The legal risks inherent in transactional business ventures (particularly cross-border commercial arrangements) demand a settlement dispute mechanism that is expedient, cognizant of emerging trends, and that operates at a modernized level.
With the enactment of the Arbitration Act, 2017, Jamaica has joined more than seventy countries worldwide and more than one hundred jurisdictions. This act has brought the United Nations Commission on International Trade Law (UNCITRAL) Model Law into domestic legislation; and when complemented by the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (also known as the New York Convention), which Jamaica ratified on 10 July 2002, the strong signal is sent that we are serious about creating the right environment for investment.
The Mona International Centre for Arbitration and Mediation is in full operation. The centre’s visionary move ensured that once the legislative framework was established, there was already a modernized venue to host arbitration disputes and provide the requisite training. As a result, Jamaica has a credible and well-trained cadre of arbitrators who will join the existing illustrious panel of arbitrators worldwide.
The launch of Arbitral Travels by Maurice Stoppi, one of the most highly respected and internationally recognized arbitration experts, is indeed another positive message to the international community. What makes it particularly significant is that he is a Jamaican, and the book is being launched in Jamaica.
We need nothing else to prove to the world that we are ready.
Congratulations, Maurice.
Delroy Chuck, QC, MP
Minister of Justice, Government of Jamaica
June 2018
