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Arbitration

Arbitration using the P.R.I.M.E. Finance Arbitration Rules provides parties with a specialised mechanism for resolving disputes involving complex financial contracts.

Arbitration as a means of dispute resolution has become an attractive option in many sectors and industries, including the financial services industry. Financial institutions and other users of financial products increasingly see arbitration as a suitable means of resolving their disputes.

In particular, arbitration allows parties to resolve their differences outside domestic court systems and to obtain an award that can be enforced in more than 150 countries due to the well-established international legal framework set out in the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958.

P.R.I.M.E. Finance provides a unique offering through its Panel of Experts, composed of over 200 renowned international specialists with more than 6,000 years of collective relevant market experience.

One of several advantages of arbitration is the ability it provides to the parties to bring the necessary expertise to the decision-making process. This is achieved by the parties generally being able to appoint the arbitrators that will adjudicate their dispute. This is invaluable in areas such as international finance and complex financial disputes.

P.R.I.M.E. Finance provides a unique offering through its Panel of Experts, composed of over 200 renowned international specialists with more than 6,000 years of collective relevant market experience. Many of these specialists are available to provide expert evidence and/or to sit as arbitrators.

In 2015, P.R.I.M.E. Finance entered into a Cooperation Agreement with the Permanent Court of Arbitration in The Hague (the PCA), as a result of which arbitrations brought under the P.R.I.M.E. Finance Arbitration Rules are administered by the PCA. The PCA is the world’s oldest arbitral institution, with over a century of experience in administering complex international proceedings. 

For more information on the P.R.I.M.E. Finance Arbitration Rules, click here.

For a copy of the Rules, click here: P.R.I.M.E. Finance Arbitration Rules in English (PDF).

The advantages of P.R.I.M.E. Finance arbitration:

Expertise

Parties can appoint highly-regarded experts and arbitrators to analyse the issues and resolve their dispute.

Final resolution of disputes

Parties receive arbitral awards that are final and binding, subject to only limited review or appeal.

Confidentiality

Proceedings are generally confidential, unless the parties agree otherwise.

Enforceability

Arbitral awards can be enforced in more than 150 countries, thanks to the  New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958.

Specialised arbitration rules

The P.R.I.M.E. Finance Arbitration Rules contain provisions designed for the finance sector that deal with topics such as interest calculation, currency and relevant tax consequences.

Administration by the PCA

Arbitrations brought under the P.R.I.M.E. Finance Arbitration Rules are administered by the PCA. 

Emergency Arbitral Proceedings

Special rules allow a party in need of urgent provisional measures that cannot await the constitution of the arbitral tribunal to make an application for such measures. The decision on the application will be made by an Emergency Arbitrator.

ISDA 

The International Swaps and Derivatices Association (ISDA) has included in its Arbitration Guides a range of P.R.I.M.E. Finance model aritration clauses tailored for use with the industry standard 1992 and 2002 ISDA Master Agreements. The model clauses published by ISDA are intended to be inserted into the Schedule to a new ISDA Master Agreement. Click here for more information.