CIArb and SAC announce new collaboration on fundholding
The Chartered Institute of Arbitrators (CIArb) and the Scottish Arbitration Centre (SAC) are delighted to announce a new collaboration on fundholding, under which parties to disputes administered by the Centre will be signposted to use the existing CIArb Stakeholder Account Service.
This agreement comes as the Centre publishes its Rules and launches itself as an administrative body. The decision to work together attests to the high regard in which CIArb is held as a credible professional body for arbitration, and the commitment the Centre has to offering parties experienced fundholding services. The arrangement will mean that parties involved in cases administered by the Centre can easily access an established, proven framework for holding funds in an arbitration neutrally and impartially.
The collaboration was announced at ICCA Edinburgh, hosted by the Centre, and is another example of Scotland’s ambitions to encourage the greater use of arbitration as an alternative to the courts for resolving disputes.
Catherine Dixon (CIArb Director-General) said:
We are delighted that the Scottish Arbitration Centre will be signposting parties to our established Stakeholder Account Service. CIArb is committed to promoting access to arbitration and ADR around the world, and we hope that this service will broaden the offer to parties, including SMEs. We are proud to be in Edinburgh for the ICCA Congress this year, and hope that we can continue to work with organisations including the Centre to promote arbitration in Scotland.
Andrew Mackenzie (Chief Executive, Scottish Arbitration Centre) said:
We are very happy to be working with CIArb to provide parties this fundholding arrangement, as we launch our Rules and administrative services. CIArb is well regarded as a global professional body for all forms of ADR, and our use of this service will ensure parties involved in disputes administered by the Centre will have an experienced fundholding option. We hope we can continue to collaborate with CIArb to grow arbitration in Scotland.
