The British Virgin Islands International Arbitration Centre (BVI IAC), an independent not-for-profit institution serving the demands for dispute resolution in the international business community, today announced that it has signed a Cooperation Agreement with the London Chamber of Arbitration & Mediation (LCAM) on 29 June 2022.

Jonathan Wood, Board Member of the London Chamber of Arbitration & Mediation said: “I am delighted to cooperate with our colleagues at BVI IAC to promote dispute resolution by mediation and arbitration for the international business community.”

According to Francois Lassalle, CEO of the BVI International Arbitration Centre: “Given the strong interconnectivity between the UK and the BVI, this MoU is the beginning of a great adventure that will see LCAM and the BVI IAC collaborate closely to promote arbitration as a method of dispute resolution.”

Many businesses, across industries, benefit from resolving disputes via arbitration in the BVI because of its modern legislation and the flexible 2021 BVI IAC arbitration rules. Through this Cooperation Agreement, the BVI IAC and LCAM will seek ways to raise awareness and further promote more effective resolution of international disputes.

About BVI IAC: The British Virgin Islands International Arbitration Centre (BVI IAC) was established to meet the rapidly evolving dispute resolution needs of arbitration users worldwide. The Centre meets the demands of the international business community for a neutral, impartial, efficient and reliable dispute resolution institution in the Caribbean, Latin America and at the cross-roads of the Americas. Users of the BVI IAC arbitration clause benefit from arbitration-friendly legislations that improve ease of business and support. The BVI IAC Panel includes arbitrators from over 40 countries, speaking more than 20 languages, and is one of the most gender-diverse panels in the world. Equipped with state-of-the-art technology and the flexibility to meet the unique requirements of any virtual arbitration, BVI IAC offers world-class facilities for conducting arbitral hearings. For more information, please visit WWW.BVIIAC.ORG.

About LCAM:  In 1903, the first arbitration scheme administered by the London Chamber of Commerce and Industry came into being as the ‘London Chamber of Arbitration’. It was supported by the City of London Corporation and the Institute of Arbitrators participated in the scheme’s management. In 2020, reflecting the broadening of its service offering and the publication of an entirely refreshed, current set of rules, the organisation rebranded as the ‘London Chamber of Arbitration and Mediation’. For more information, please visit WWW.LCAM.ORG.UK

Farad Asghari, Manager, LCAM