Website aims to boost €50m arbitration industry
Published 24/09/2010 | 05:00
A new website aimed at growing Ireland's €50m Alternative Dispute Resolution (ADR) industry will be unveiled this morning at an international conference to be held in Dublin.
Ireland is vying to compete with London and Switzerland to become one of the world's leading ADR centres, as domestic and international parties opt for arbitration and mediation to reduce the need for costly litigation.
Last night Irish arbitrator Joe Behan, the world president of the 12,000 strong Chartered Institute of Arbitrators (CIArb), said the new online facility -- www.arbitration.ie -- would allow businesses and private individuals to have a suitable practitioner assigned to them in record time by applying directly to the interactive website.
"The CIArb is to the forefront of putting Ireland forward as the forum to hold international arbitration, which is recognised as a multi-million euro industry globally," said Mr Behan.
"The profession is currently worth somewhere in the region of €50m to the Irish economy and could be worth far more if Ireland should become one of the recognised international ADR services centres."
Earlier this year the Government passed the landmark Arbitration Act 2010 which repeals all pre-existing arbitration laws and applies the United Nations Commission on International Trade Law's (UNCITRAL) 'Model Law on International Commercial Arbitration' to all arbitrations that take place in Ireland.