International Commercial Arbitration at Grenada
Here’s an overview of International Commercial Arbitration in Grenada:
1. Legal Framework
Grenada’s arbitration is governed primarily by the International Commercial Arbitration Act, 2013.
This Act incorporates the UNCITRAL Model Law on International Commercial Arbitration (1985), providing a modern and internationally recognized legal framework.
Grenada is a signatory to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, facilitating enforcement of foreign arbitral awards within its jurisdiction.
2. Scope and Application
The Act applies to international commercial arbitration agreements and proceedings with a connection to Grenada.
It covers disputes arising from commercial relationships where parties have agreed to arbitration as their dispute resolution mechanism.
Parties can agree to arbitrate disputes in Grenada or have Grenadian law govern arbitration agreements.
3. Arbitration Agreement
Must be in writing and can be included as an arbitration clause within a contract or as a standalone agreement.
Parties have freedom to determine procedural rules and the number of arbitrators.
If parties fail to agree on arbitrators or procedures, the Act provides mechanisms for court intervention to assist.
4. Arbitration Procedure
The procedure is flexible and party autonomy is strongly supported.
The Act allows parties to choose the place (seat) of arbitration, language, and applicable rules.
Grenadian courts support arbitration by assisting in interim measures and the appointment of arbitrators.
5. Role of Grenadian Courts
Courts have a limited but supportive role:
They enforce arbitration agreements and can stay court proceedings.
They can intervene to appoint arbitrators if parties fail to do so.
They have the power to set aside arbitral awards but only on limited grounds such as procedural irregularities or public policy violations.
6. Enforcement of Arbitral Awards
Grenada enforces both domestic and foreign arbitral awards under the New York Convention framework.
Enforcement requires filing the arbitral award with the appropriate court.
Grounds for refusal are narrow and follow international standards, ensuring predictability.
7. Arbitration Institutions
Grenada does not have a major local arbitration institution but parties often use international arbitration centers such as:
International Chamber of Commerce (ICC)
London Court of International Arbitration (LCIA)
Singapore International Arbitration Centre (SIAC)
The legal framework supports such institutional arbitration involving Grenada.
Summary
Grenada offers a modern and internationally compliant arbitration framework under the International Commercial Arbitration Act 2013, based on the UNCITRAL Model Law, supported by the New York Convention. While lacking local arbitration institutions, it supports international arbitration and enforces arbitral awards effectively, making it a viable venue or applicable law for international commercial arbitration.
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