Virgin Islands Arbitration Clauses
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How to fill out Arbitration Clauses?
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FAQ
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
BVI's arbitration laws are impartial, efficient and designed with modern international arbitration in mind and afford parties a speedy dispute resolution mechanism that is enforceable.
The British Virgin Islands is a common law jurisdiction, although British Virgin Islands law and procedure differs to a great degree from English law because of local statutes, orders and civil procedure rules.
Yes. The Federal Arbitration Act, or FAA, was passed in 1925 in response to a variety of court decisions that held arbitration agreements unenforceable. This law provides that arbitration agreements are generally valid and enforceable.
The new Arbitration Act, 2013, which came into force on 1 October 2014, provides the BVI with a modern statutory framework incorporating the UNCITRAL Model Law into domestic legislation.
Some types of cases can not be arbitrated. Most matters that involve family law, immigration law or criminal law cannot be arbitrated, because the parties cannot enter into an agreement on those matters without restriction.
British Virgin Islands contract law is almost entirely based upon English common law. The British Virgin Islands has no equivalent of the Contracts (Rights of Third Parties) Act 1999, and applies strict privity of contract. Similarly there is no equivalent to the Unfair Contract Terms Act 1977 in the territory.
