THE CHARTERED
INSTITUTE OF ARBITRATORS
EAST MIDLANDS BRANCH
(Chairman: Roy Pickavance)
News Release
September 2001
UK Businesses
entrust over £10million worth of dispute resolution to the Chartered Institute
of Arbitrators
Chartered Institute
of Arbitrators Announces Successful First Year for its Commercial Arbitration
Scheme
The Chartered Institute of
Arbitrators’ Commercial Arbitration Scheme offers businesses a quicker, cheaper
and less stressful alternative to litigation to resolve their disputes.
Launched a year ago the scheme has attracted companies from a wide range of
industries, with applications covering disputes totaling over £10 million to
date.
Jeffrey Rosenthal, Public
Relations Officer for the East Midlands branch of the Institute, said of the
scheme:
“The business benefits offered
by the Scheme are appealing to a wide range of UK companies including Epicor
Software, The Coal Authority and the British Photographic & Imaging
Council. Lawyers should take notice of the success of the Scheme, as UK companies
are realising the significant business benefits that a simple and effective
arbitration scheme can offer, because it saves important management time. This
is a compelling argument for lawyers to add the Commercial Arbitration Scheme
to the services that they offer their clients.”
By paying a one-off
registration fee of just £300 businesses can 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 or arbitration 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
Gareth Hevey, Partner and Head
of Construction of Denison Till, a firm of solicitors which is already
successfully using the scheme, said:
"The Chartered Institute
of Arbitrators' Commercial Scheme provides the prospect of speedy, cost
effective and balanced justice. It is a good halfway house between adjudication
and full-blown arbitration. Contract draftsmen should be alive to the benefits
offered by the scheme and should therefore refer to it specifically. The
Commercial Arbitration Scheme is particularly useful when dealing with disputes
involving time issues and defects or faults in the product or service in
question."
For more information on this scheme
and other CIArb initiatives, go to www.arbitrators.org
or telephone Gregory Hunt, Manager, Dispute Resolution Services, on 020 7421
7444.
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 world-wide.
Approaching 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 access to
justice for all, both in the developed and the developing world.
For further information, please contact
Public
Relations Officer, East Midlands Branch
Tel:
0116 241 4316
Email:
PR@CIArb-EM.org
or
Manager, Dispute Resolution Services
Chartered Institute
of Arbitrators
Tel: 020 7421 7444
Email:ghunt@arbitrators.org
or
External Relations Manager
Chartered Institute of Arbitrators
Tel: 020 7903 6800
Email: dmorphew@arbitrators.org