Why Choose Us
There are many reasons to choose P.R.I.M.E. Finance. Here are just some of them.
Because of the quality of our expertise, P.R.I.M.E. Finance will represent the single greatest source in the world of collective knowledge and experience of documentation, law and market practice for derivatives and other complex financial products. Among the panel members are retired and sitting judges, central bankers, regulators, representatives from private practice and derivative market participants (both dealer and buy side). Selection as an expert requires relevant competence and peer group approval. Complex disputes need experienced expertise.
Because we are looking to provide a diversity of backgrounds in terms of: geography, market activity, jurisdiction, linguistic skills, and nationality.
Because our expert advice and expert witness services are distinctive in the field. We can help you identify the right expert for your specific case, within a uniquely short timeframe, where you could otherwise have trouble finding one. This saves you time and money.
Because the P.R.I.M.E. Finance Arbitration Rules were prepared in consultation with P.R.I.M.E. Finance’s Panel of Experts, and have been particularly adapted for disputes arising in financial markets. For example, special provisions on fast-track proceedings, comprising expedited proceedings, emergency proceedings, and referee proceedings, have been built in. The P.R.I.M.E. Finance Arbitration Rules are based on the well-tested UNCITRAL Arbitration Rules 1976 (as revised in 2010).
Because according to the Cooperation Agreement between the PCA and the P.R.I.M.E. Finance, the PCA will administer cases under the P.R.I.M.E. Finance Arbitration Rules.
Because of the collaboration with the PCA, which makes it possible for the parties involved to rely on a strong and experienced administrative body.
Because the P.R.I.M.E. Finance model arbitration clause is specifically drafted for cross-border finance documentation. A well-drafted arbitration clause is of the utmost importance, to avoid enforceability issues amongst others, where arbitration is the parties’ preferred basis for the resolution of their contractual disputes.
Because parties are free to choose any legal system to be applicable to their arbitration clause and dispute (e.g. New York or English law) and can choose to have the seat of the arbitration anywhere in the world. Additionally, parties are not required to hold proceedings at the seat of arbitration; hearings and other proceedings can take place anywhere in the world. No matter which legal system or place of arbitration parties choose, they can still be sure that P.R.I.M.E. Finance’s specialized experts will be involved in dealing with the matter.
Because by virtue of the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”), P.R.I.M.E. Finance arbitral awards can be enforced in more than 140 jurisdictions. The New York Convention is considered to be one of the key advantages of international arbitration. This was also confirmed by an ISDA working group on arbitration, which provided further insight into the use of arbitration in the derivatives markets.
Because in September 2013, ISDA published 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. The ISDA model arbitration clauses are intended for use with seven different international arbitration centers, including P.R.I.M.E. Finance. The ISDA model clauses contemplate a choice of arbitral seats in New York, London, The Hague, Paris, Hong Kong, Singapore, and Switzerland. The ISDA Guide anticipates P.R.I.M.E. arbitrations being conducted in The Hague, London, and New York. The model clauses published by ISDA are intended to be inserted into the Schedule to a new ISDA Master Agreement.
Because resolving disputes through P.R.I.M.E. Finance is cost efficient.