P.R.I.M.E. Finance is the Panel of Recognised International Market Experts in Finance. This institution was established to help resolve, and to assist judicial systems in the resolution of, disputes concerning complex financial transactions.
With support from the Dutch authorities and the enthusiastic commitment of its experts, P.R.I.M.E. Finance, a Dutch not-for-profit foundation, officially opened its doors in January 2012. P.R.I.M.E.'s mission is to foster a more stable global economy and financial marketplace by reducing legal uncertainty and systemic risk, and promoting the rule of law. Within one year of its founding, P.R.I.M.E. was awarded “Best Newcomer” at the GAR arbitration awards ceremony in Stockholm, Sweden.
P.R.I.M.E. Finance’s Advisory Board is chaired by H.E. The Hon. Sir David Baragwanath KNZM, Appellate Judge and former President, The Special Tribunal for Lebanon; and its Management Board is chaired by Jeffrey Golden, a Governor and Honorary Fellow of the London School of Economics and Political Science, retired founding partner of Allen & Overy LLP’s US law practice and the former senior partner in that firm’s global derivatives practice.
P.R.I.M.E. Finance has three core pillars, informing its mission:
- Offering exceptional dispute resolution services, including arbitration, mediation, expert opinions, determinations, and risk assessment, with unmatched geographical flexibility
- Identifying the need for, and providing judicial training and education in international finance
- The ongoing construction of a database of relevant specialised case law, for reference by practitioners
P.R.I.M.E. Finance offers independent dispute resolution services, including mediation and arbitration. P.R.I.M.E. as a dispute resolution institution is unique, first and foremost, because its arbitrations are chosen from among the world's most renowned financial markets experts ensuring swift and competent adjudication. P.R.I.M.E. is also geographically flexible and exercises a superior degree of independence.
P.R.I.M.E. Finance, as one of seven international arbitration centres, was also acknowledged by the International Swaps and Derivatives Association (ISDA) in the 2013 ISDA Arbitration Guide. The Guide provides a range of model arbitration clauses tailored for use with the industry standard 1992 and 2002 ISDA Master Agreements. P.R.I.M.E. Finance has also developed forms of amendment agreements to modify existing 1992 or 2002 ISDA Master Agreements to provide for arbitration in accordance with the P.R.I.M.E. Finance Arbitration Rules. These amendment agreements contemplate the same arbitral seats as those in the ISDA Arbitration Guide. In the future, P.R.I.M.E. expects to publish a similar form in Japanese for arbitrations to be conducted in Tokyo.
P.R.I.M.E. Finance is increasingly recognised as the premier provider of specialised information jurists need to better assess the merits of the complex financial disputes. There is no organisation currently serving the need for financial judicial training which draws upon the depth of experience and knowledge as that of P.R.I.M.E. Finance. For many of these judges, P.R.I.M.E. Finance’s efforts are their first exposure to training in derivatives and the complex and arcane agreements which document these transactions. P.R.I.M.E. Finance’s independent status frees judges from conflict of interest concerns when seeking explanations of complex financial products and transactions. Judicial training and education programs have been provided to courts and judges on dozens of occasions across five continents. Furthermore, the alacrity with which judges have taken to P.R.I.M.E. Finance’s interactive training programs speaks to an important, previously unmet need.
For further information, please contact the Secretariat at email@example.com.
P.R.I.M.E.'s LexisLibrary® Case Bank
LexisNexis and P.R.I.M.E. Finance have collaborated to launch a unique case database, which provides access to a wide range of cases from around the world. Through the database, P.R.I.M.E. Finance experts and the judges they train can access links to cases, transcripts and available law reports on LexisLibrary®, in addition to practical guidance from LexisPSL®. This repository of cases provides an important component part of the broader strategy at P.R.I.M.E. Finance. Since the global financial crisis, complex financial product cases have been increasing: the database provides a tool for identifying matters arising in different jurisdictions and the different ways complex financial disputes are addressed across the globe. LexisNexis has nearly 200 years of experience, with its authoritative information from Butterworths® and Tolley® which has combined a deep understanding of the legal and tax profession with technology innovation to help practitioners work more productively, advise with confidence and better manage their organisations in a changing legal environment. By combining forces, identifying relevant content and working together to make it ever easier to navigate, the database will be very useful to P.R.I.M.E. Finance experts and the judges they train.