THE CHARTERED
INSTITUTE OF ARBITRATORS
EAST MIDLANDS BRANCH
(Chairman: Roy Pickavance)
Press Release 22
January 2001
Chartered Institute
of Arbitrators Announces Successful Launch of its
Commercial Scheme
UK Businesses
entrust over £3million worth of dispute resolution to the Chartered Institute
of Arbitrators in just 5 months
The Commercial Arbitration Scheme offered by the Chartered Institute of Arbitrators (CIArb) to resolve commercial disputes through arbitration as an alternative to litigation has been hailed as a success after UK businesses signed up to the scheme. Applications for the scheme have totaled over £3 million in value to date.
Jeffrey Rosenthal, Public Relations Officer for the East Midlands Branch of the Chartered Institute of Arbitrators said of the scheme; “ Since launching the scheme late last year, the Institute has had a brilliant response from UK businesses wishing to offer these services for both business-to-business and business-to-consumer disputes, should they arise.”
“According to our predictions, the
next three to six months should see an increasing number of businesses signing
up for this scheme - this is testament to the value of this time and money
saving settlement route set up by the Institute.”
By paying a one-off registration
fee of just £300, businesses can now take advantage of this flexible, cost
effective arbitration scheme.
The benefits to businesses by
registering with this scheme which are not always offered in traditional
litigation include:
·
Flexible rules
·
One joining fee covers all branches of business
·
Recommended arbitration clauses
·
Presidential appointment of experienced
Chartered Arbitrators
·
Innovative appeals procedure
·
Cost-capped arbitration
·
Regular updates on dispute resolution services
offered by CIArb
Jeffrey Rosenthal concluded;
“Considering this scheme has only
been promoted by word of mouth and basic marketing techniques, we are
discovering that UK businesses are coming to recognise that arbitration can be an
important time and cost-saving alternative to litigation as a means of
resolving commercial disputes.
“In an age when relationships with
customers and business partners are becoming increasingly important,
arbitration offers a confidential means to resolving disputes, helping
businesses retain on-going relationships.”
For more information on this scheme
and other CIArb initiatives, go to www.arbitrators.org
About The Chartered
Institute of Arbitrators
Founded in 1915,
The Chartered Institute of Arbitrators (CIArb) is a not-for-profit organisation
with headquarters in London and branches worldwide.
With over 10,000
members in 85 countries, the CIArb promotes and facilitates the determination
of disputes by arbitration, but also by alternative means of dispute resolution
(ADR) for business sectors including; the law,
construction, shipping, engineering, finance, insurance, commodities, medicine
sport and the automobile industry.
A dynamic
organisation, the CIArb conducts “Dispute Resolution Services” - administering
bespoke schemes for both business-to-business and business-to-consumer
transactions to provide cost-effective and timely settlement of disputes.
The CIArb also
provides international training courses. It is dedicated to facilitating
justice for all, both in the developed and the developing world.
For further information, please contact
Public
Relations Officer, East Midlands Branch
Tel:
0116 253 8915
Email:
PR@CIArb-EM.org
or
Manager, Dispute Resolution Services
Chartered Institute
of Arbitrators
Tel: 020 7520 8312
Email:ghunt@arbitrators.org
or
Denzie Davis/Parnee Cherubini
Email: denzie.davis@kaizo.net/parnee.cherubini@kaizo.net