Introduction
Arbitration is a mechanism of binding dispute resolution which
entails resolving disputes outside court in accordance with
procedures and standards as determined by the parties in dispute.
Arbitration is therefore an alternative to traditional litigation
and is distinct from non-binding forms of dispute resolution such
as mediation.
The Cayman Islands has a modern arbitral framework as a result
of the bringing into force of: (i) the Arbitration Law (2012) (the
Arbitration Law); and (ii) procedural rules
regulating the Grand Court's practice and procedures in
relation to arbitrations1 brought into force in
July 2013 (the Rules). The foundation of the
Arbitration Law is largely the UNCITRAL Model Law on International
Commercial Arbitration (the Model Law); whilst
also utilising successful aspects of arbitral legislative models
found in other common law jurisdictions (such as Singapore or Hong
Kong). The Arbitration Law has also sought to augment the
