Previously, settling disputes in the Virgin Islands was done mainly through litigation. Nevertheless, the recent years have witnessed a trend toward the use of alternative ways of resolving disputes. So, let's take a closer look at some of the most common forms of ADR in the Virgin IslandsI.
Arbitration
Ever since the Arbitration Law was enacted, there’s been an increase in the number of cases in which arbitration in the BVI is used as the main way of resolving conflicts. Those seeking to settle a dispute by arbitration in the Virgin Islands should keep in mind that its arbitration legislation is largely modelled on the UML. Because of that, parties are guaranteed that arbitral proceedings in the Virgin Islands will adhere to all internationally recognized standards.
However, some of the differences between the UML & recently adopted regulatory framework are meant to ensure that the BVI Virgin Islands remain attractive for parties seeking to settle their disputes through arbitration & enforce awards rendered by arbitration courts in other countries.
Individuals seeking to initiate arbitration proceedings in the Virgin Islands should also keep in mind that the country’s arbitration court is called the IAC.
Important: The BVI is a party to the NYC; hence, arbitration awards made in its territory are recognized by courts in other countries of the world.
Mediation
All BVI-based courts are expressly authorised to urge parties to resort to any suitable form of settlement of disputes in the Virgin Islands (mediation included). If parties intend to resolve a dispute through mediation in the Virgin Islands, the EC Supreme Court can provide them with highly trained mediators & coordinate all court-related mediation.
Important: If either party isn’t willing to resort to mediation, the local courts rarely force them to use mediation for resolution of disputes.
Considering resolving a dispute by arbitration or mediation in the Virgin Islands? Need advice on arbitration regulation in the Virgin Islands? Please do not hesitate to contact IQ Decision UK for an individual consultation.
While helping you to resolve a dispute in the Virgin Islands or any other jurisdictions of your choice, our experts are also going to be happy to provide you with any other ADR-related services.
