The British Virgin Islands'
(BVI) government has announced
by proclamation that the Arbitration Act 2013 will come into force
on 1 October 2014. The stated intention has been to bring the Act
into force at the same time as the BVI IAC Arbitration Rules 2014.
It promises to be a significant legislative milestone which is
expected to generate alternative dispute resolution in the BVI,
positioning the jurisdiction for development as an international
arbitration centre.
It is expected to incorporate the following key features:
Incorporation of the UNCITRAL Model Law into the Act
The Act is modelled on the UNCITRAL Model Law on International
Commercial Arbitration as adopted by the UN Commission (on 21 June
1985) and further amended (7 July 2006), which provides rules on
arbitration proceedings and is recognised internationally by many
countries. The incorporation of the UNCITRAL model law into the Act
will ensure that BVI arbitration will be conducted according
