Minister Edward Belfort of Justice and Police on 13 and 14 March at the invitation of IMPACT Justice in Trinidad and Tobago participated in a discussion on the topic “A Model Arbitration Law for CARICOM Member States”.
The first meeting about the CARICOM countries has triggered a debate over the need for a common Arbitration Act. The Arbitration of some CARICOM countries originates in a law of 1800 which is no longer used today. Suriname and other countries have no law on this piece.
In 1992, Professor Velma Newton of the IMPACT Justice project made a draft so there is now something to start from. It was also Newton who initiated this discussion.
The economy will be enhanced if there is arbitration law for CARICOM.
The law is focused mainly on resolving disputes between traders. Arbitration is also an opportunity for the parties to have their disputes presented to an arbitration institution and not a judge.
-Reposted from the Suriname Herald