NCAC reviewing Cambodian arbitration rules
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B2B Cambodia
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The National Commercial Arbitration Centre (NCAC) is currently reviewing the Cambodian arbitration rules which have been in place since 2014, local media reported this week.
In an announcement from NCAC, they said "We will consult widely with NCAC users, arbitrators, arbitration professionals in Cambodia and from other jurisdictions where arbitration is highly developed. We also invite comments from all those interested in NCAC’s work."
The review and amendment process by NCAC will only be completed in 2021 says the Khmer Times. The organisation will use its experience over the past 7 years in case administration and consider international arbitration, and international best practices. An internal working group is drafting the new edition of the Cambodian arbitration rules.
Trending topics that will also be covered in addressing commercial arbitration include
- Emergency arbitration.
- Third-party funding.
- Protocol on video conferencing.
- Cross-institutional consolidation of arbitration cases.
- Early determination of arbitration cases.
- Online hearings caused by the COVID-19 pandemic.
Arbitration in Cambodia: NCAC
There are currently two main forms of dispute resolution in Cambodia: the courts and alternative dispute resolution mechanism, which includes mediation and arbitration. The Arbitration Council is an institution aimed at mediating and reducing labour disputes in Cambodia. The independent body was initially set up to manage commercial disputes without having to go through Cambodia’s legal system by involving independent mediators. The current NCAC arbitration rules are largely inspired by the Singapore International Arbitration Centre (SIAC) Arbitral Rules version 2013 said the President of the NCAC, Bun Youdy. The NCAC is composed of independently elected members, who have been selected and trained in arbitration at Singapore International Arbitration Centre (SIAC) and Singapore Institute of Arbitrators. The General Assembly has adopted the NCAC’s Rules of Arbitration. Also, internationally recognized foreign arbitrators with the relevant experience can be appointed by the NCAC to preside over cases. You can read more in our guide on Legal and Accounting in Cambodia. The disputes are of a commercial nature an include industries such as construction, real estate, joint ventures, finance and banking, domestic and international trade. By July 2020:- 19 cases had been referred to and administered by the NCAC.
- 10 cases of the total 19 have already been resolved.
- The total amount of claims reached more than USD $70 million.