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1/25/13 9:03 PMthebahamasweekly.com - Bahamas Branch of Chartered Institute of Arbitrators (CIARB) Prepares To Train Professionals

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COMMUNITY Last Updated: Jan 25, 2013 - 12:18:03 PM

Bahamas Branch of Chartered Institute ofArbitrators (CIARB) Prepares To TrainProfessionalsBy Shonalee King JohnsonJan 25, 2013 - 12:06:25 AM

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Bertha Cooper-Rousseau, Chair, The Bahamas Branch of Chartered Instituteof Arbitrators.

Education and Certification Critical to Country Becoming aReputable and Sophisticated Arbitration Hub in TheAmericas

Nassau, Bahamas - With the legislative framework in place,retooling Bahamian professionals with the skill sets neededfor arbitration is fundamental for The Bahamas to become asuccessful international arbitration hub in the Americas.

In March 2013, the Bahamas Branch of The CharteredInstitute of Arbitrators (CIARB) will launch a strategic trainingagenda with the end goal of producing internationallyrecognized accredited arbitrators and mediators within fiveyears.

“This will create the platform for the continuation of thegovernment’s national mandate to establish The Bahamasas an International Commercial Arbitration Center,” saidBertha Cooper-Rousseau, Chairperson of The BahamasBranch of CIARB.

Arbitration is a mechanism by which a dispute is referred toa neutral third party for a decision. The decision is called anaward, which is legally binding and enforceable. TheArbitration Act, 2009 and the Foreign Arbitral Awards Act,2009 allows the legislative infrastructure for both domestic

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1/25/13 9:03 PMthebahamasweekly.com - Bahamas Branch of Chartered Institute of Arbitrators (CIARB) Prepares To Train Professionals

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and international disputes to be resolved.

According Mrs. Bertha Cooper-Rousseau, developing thecountry in to a successful arbitration hub will require themobilization of members from various professional bodiesand the judiciary to embrace CIARB’s education and trainingpathway.

She stressed that for The Bahamas to be recognized as aninternational arbitration center is not an over-night process. “If we are to take full advantage of our geographic location inthe Americas, we must first implement a strategic significantdevelopment plan that will involve a working partnershipbetween the policy-makers, the judiciary and the privatesector.”

Since the reinstitution of Ministry of Financial Services &Investments in 2012, the Executive Committee of TheBahamas Branch has participated in numerous consultationswith Minister Ryan Pinder and made recommendations toimplement an arbitration commission, which will beconstituted of key stakeholders and international commercialand maritime arbitrators.

Cooper-Rousseau contends that positioning the jurisdictionto become an arbitration seat will involve implementing theinstitutional infrastructure needed to conduct arbitration. TheBahamas will also need strong endorsements frominternational institutions namely, The International Chamberof Commerce, The London International Court of Arbitration,and The London Maritime Arbitrators Association and others.

That’s where the Bahamas Branch of CIArb’s training comesinto play. “The legislation provides for matters to be heardhere and for certified arbitrators to settle disputes on ourshores, this is not enough. The Branch wants to assuretransactional attorneys that when drafting arbitration clausesin NY, London, Hong Kong or Singapore, The Bahamas hasa pool of arbitrators who are skilled in various professionaldisciplines. Training and international recognition is key.”

The Bahamas’ position as a leading ship registry and itsclose proximity to emerging economies in South Americamakes the push towards transforming the jurisdiction to anarbitration hub worth the effort.

“We have a unique opportunity to develop an arbitrationmodel with the potential to greatly enhance our financialservices product and we are well on our way but we mustbe strategic in our approach and proper training must be thefoundation.”

For more information on upcoming training schedulescontact Bertha Cooper-Rousseau, Chairperson, theBahamas Branch of CIArb’s at 1-242- 327-3693emailbcr@rousseaulaw.com or visit www.ciarb.org.

© Copyright 2013 by thebahamasweekly.com

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HOM E > NEWS & PRESS > BAHAM AS T O T RAIN ARBIT RAT ORS

Bahamas to train arbitratorsFor The Bahamas to become a successful international arbitration hub, the Bahamas Branch ofThe Chartered Institute of Arb itrators is launching a training initiative in March to build a localcadre of skilled professionals.

Source:Date:

Updated:

TheBahamasInv estor.com January 24, 2013January 24, 2013

Pictured: Bertha Cooper-Rousseau, chair, TheBahamas Branch of Chartered Institute of Arb itrators.(Photo courtesy Bahamas Branch of CharteredInstitute of Arb itrators)

With the legislative framework in place,retooling Bahamian professionals with theskill sets needed for arbitration isfundamental for The Bahamas to become asuccessful international arbitration hub inthe region, according to the BahamasBranch of The Chartered Institute ofArbitrators (CIArb).

To this end in March 2013, the branch willlaunch a strategic training agenda with thegoal of producing internationally recognizedaccredited arbitrators and mediators withinfive years.

“This will create the platform for thecontinuation of the government’s national

mandate to establish The Bahamas as an International Commercial ArbitrationCenter,” said Bertha Cooper-Rousseau, chairperson of The Bahamas Branch ofCIArb.

Arbitration is a mechanism by which a dispute is referred to a neutral thirdparty for a decision. The decision is called an award, which is legally bindingand enforceable.

The Arbitration Act, 2009 and the Foreign Arbitral Awards Act, 2009 allow thelegislative infrastructure for both domestic and international disputes to beresolved.

According Cooper-Rousseau, developing the country in to a successfularbitration hub will require the mobilization of members from variousprofessional bodies and the judiciary to embrace CIArb’s education and trainingpathway.

She stressed that for The Bahamas to be recognized as an internationalarbitration center will take time.

“If we are to take full advantage of our geographic location, we must firstimplement a strategic significant development plan that will involve a workingpartnership between the policy makers, the judiciary and the private sector.”

Since the reinstitution of the Ministry of Financial Services & Investments in2012, the Executive Committee of The Bahamas Branch has participated innumerous consultations with Minister Ryan Pinder and made recommendationsto implement an arbitration commission, which will be constituted of keystakeholders and international commercial and maritime arbitrators.

Cooper-Rousseau contends that positioning the jurisdiction to become anarbitration seat will involve implementing the institutional infrastructure neededto conduct arbitration. The Bahamas will also need strong endorsements frominternational institutions namely, The International Chamber of Commerce, TheLondon Court of International Arbitration, and The London Maritime Arbitrators

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Association and others.

“The legislation provides for matters to be heard here and for certifiedarbitrators to settle disputes on our shores, this is not enough. The branchwants to assure transactional attorneys that when drafting arbitration clausesin NY, London, Hong Kong or Singapore, The Bahamas has a pool of arbitratorswho are skilled in various professional disciplines. Training and internationalrecognition is key.”

The Bahamas ’ position as a leading ship registry and its close proximity toemerging economies in South America makes the push towards transformingthe jurisdiction to an arbitration hub worth the effort.

“We have a unique opportunity to develop an arbitration model with thepotential to greatly enhance our financial services product and we are well onour way, but we must be strategic in our approach and proper training must bethe foundation.”

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