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ARTICLE · 26 APRIL 2024

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Recent Amendments To The International Commercial Arbitration Law

George Z. Georgiou & Associates LLC
George Z. Georgiou & Associates LLC
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George Z. Georgiou & Associates LLC

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The International Commercial Arbitration Law (L.101/1987) ("Law 101/1987"), which governs international commercial arbitrations in Cyprus, has been recently amended by the International Commercial Arbitration (Amending) Law of 2024 ...

CyprusLitigation, Mediation & Arbitration
Tatiana Chlorakiotou
Tatiana Chlorakiotou
Agathi Zervou
Agathi Zervou
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The International Commercial Arbitration Law (L.101/1987) ("Law 101/1987"), which governs international commercial arbitrations in Cyprus, has been recently amended by the International Commercial Arbitration (Amending) Law of 2024 (Law 11(I)/2024) ("the Amending Law") which was published in the Official Gazette on 23.02.2024.

With the latest amendments, Law 101/1987 has been essentially evolved to a nearly identical adaptation of the revised UNCITRAL Model Law, as this was amended in 2006.

This consequently brings Cyprus into alignment with other prominent destinations in the field and establishes it as an attractive seat for international commercial arbitration proceedings in the future.

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