As, it is hoped, an impetus for Australia to become a regional centre for arbitration, the country’s first dedicated international dispute resolution centre was opened in Sydney on August 3.
The Australian International Disputes Centre (AIDC) is located in the heart of Sydney’s business district, and is purpose-built to conduct arbitrations, mediations, training and seminars.
The AIDC offers state-of-the-art communications, audiovisual and video conferencing facilities, tribunal, conference and breakout rooms, and access to translation and transcription services. It also offers panels of accredited dispute resolvers and expert training in arbitration, mediation, adjudication and expert determination.
Jointly funded by the Australian Centre for International Commercial Arbitration and the Australian Commercial Disputes Centre, in partnership with the Australian and New South Wales governments, it aims to promote and facilitate international and domestic dispute resolution.
Australia’s Attorney-General, Robert McClelland, who opened the centre, had said previously that Australia is well-placed to capitalize on the booming market for cross-border dispute resolution, having very close ties both to Europe and to Asia, together with stable economic, political and legal environments, and some of the best legal practitioners in the world.
As international arbitration, rather than litigation, becomes the preferred choice for resolving commercial disputes, it is hoped that Australia can become a significant player in the Asia-Pacific market, which is currently dominated by Hong Kong and Singapore.
.Tags: law | business | Australia | Hong Kong | Singapore | standards | regulation
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