For the first time in Cambodia, commercial disputes have been resolved using an independent arbitration panel instead of the Kingdom’s court system.
Ros Monin, president of the National Commercial Arbitration Centre (NCAC), told the Phnom Penh Post that the institution, which became operational in 2013, had recently settled two cases. The NCAC received its very first case in 2015 – a business dispute between a factory owner in Phnom Penh and a foreign national renting the building – although it was eventually dropped as it did not fit the criteria of the centre.
The second and third cases were taken on by the NCAC in June and December of last year, with both having since being settled, according to Monin. One resolved a dispute over a construction contract between a Cambodian company and a foreign entity, while the other was over a supplier contract between a government agency and a private company.
“Both cases are closed; they have passed the hearing stage. According to procedure, the companies need time following the hearing to draft their agreements and send them to [NCAC] for scrutiny,” said Monin, adding that the centre “will notify partners when the contracts are official”.
For more on this story, click here.