FMO Includes P.R.I.M.E. Arbitration Clause in Guarantee Agreement with TCX
The Dutch Development Bank (FMO) Includes P.R.I.M.E. Arbitration Clause in its Latest Guarantee Agreement with the Currency Exchange Fund
P.R.I.M.E. Finance announces that FMO and the Currency Exchange Fund (TCX) have chosen P.R.I.M.E. Finance to settle potential conflicts arising out of their most recent guarantee agreement. The institutions chose this innovative option given the special subject matter expertise of the P.R.I.M.E. Finance Panel of Experts as well as the enforceability advantages of arbitral awards. Both parties realize the clear advantages of a specialist arbitration forum, like P.R.I.M.E. Finance, to settle potential disputes.
FMO supports sustainable private sector growth in developing and emerging markets by investing in businesses, projects and financial institutions. TCX is a unique financial institution that provides currency derivatives in emerging markets to its shareholders and their clients. Its shareholders include most major development finance institutions and a number of specialized microfinance investors.
“P.R.I.M.E. Finance has created a niche with its special focus on complex financial transactions and derivatives which connects very well with the local currency financing transaction of FMO. P.R.I.M.E. Finance has an extensive list of experts in this specific field and also offers the possibility to add local experts to the panel” (Matthijs Laban, Manager Legal Affairs, FMO).
P.R.I.M.E. Finance (the Panel of Recognised International Market Experts in Finance) is based in The Hague and was established to help resolve disputes concerning complex financial transactions. The organization has the support of key international regulatory bodies and is complementary to the on‐ going financial market regulatory reform process. P.R.I.M.E. Finance joined forces with the Permanent Court of Arbitration (PCA), also based in The Hague. P.R.I.M.E. Finance's filing address is the Peace Palace in The Hague. The arbitrations may take place anywhere in the world, and may be facilitated by the PCA's host country agreements with a number of its member states. As a result, parties to complex financial transactions will have easier access to arbitration and mediation to resolve their disputes.
Contact for the Media
For more information, please refer to the website: www.primefinancedisputes.org. For further information about this press release, please contact the Head of Secretariat, Camilla Perera – De Wit, via telephone: +31 6 52 888 301 or via email: email@example.com, or Kristy Tillman, Executive Director, via telephone +316 21 660 305 or via email: firstname.lastname@example.org.
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Published on: 25 October 2017