CAMC INTRODUCTORY EVENT 2022

An event for the presentation of the Cyprus Arbitration & Mediation Centre was held on the 6th October 2022 by the Cyprus Bar Association (CBA). Opening speeches were addressed by the President of the CBA, Dr. Christos Clerides, the President of the Arbitration and Mediation Committee of the CBA, Mr. Andreas Demetriou and the Chairman of the Board of Directors of the Cyprus Arbitration & Mediation Centre, Mr. Andreas Michaelides.

Dr. Clerides in his speech referred to the overall effort of the CBA to activate the Centre, underlining that the CBA has set as one of its main purposes the promotion of arbitration and mediation as an alternative dispute resolution measure, especially required, due to the delay observed in the hearing of disputes in the Cypriot courts. Dr. Clerides stated, amongst others, that “arbitration and mediation are useful tools, especially for the resolution of commercial and financial disputes with the prospect of extending the institution to other disputes as well. Therefore, it is a priority to inform the stakeholders of the justice system about the scope and purposes of CAMC and also about the benefits that arise. A new culture of dispute resolution with an emphasis on mediation and arbitration must be developed in Cyprus“.

Mr. Demetriou stated that at this stage priority has been given to Cypriot lawyers to register as arbitrators and mediators in the relevant registers. A proper arbitration and mediation process, he noted, can be completed faster and more efficiently than court proceedings. “Horizons are opening up. We must be ready and receptive, so as to take advantage of the opportunities arising from the utilization of the specific processes”, he pointed out.

Furthermore, the President of the Centre Mr. Andreas Michailides stated that law firms can be the main source of incoming cases, by referring such for resolution by the CAMC, either by advising their clients to include relevant clauses in their contracts, or where there is no arbitration clause by agreeing to refer disputes that have arisen to the Centre. “We recognize that it takes time and effort for a new institution to grow roots and we are optimistic that the Centre will establish itself as one of the pillars of development of alternative dispute resolution institutions in Cyprus,” he noted.

In the context of the event, the lawyer Mr. Costas Tsirides, one of the founders of the Centre – which management was recently granted to CBA – was honoured.

Establishing, therefore, the institution of arbitration and mediation in Cyprus for the resolution of commercial disputes gives impetus to entrepreneurship and contributes to the development of the economy through the provision of services.

Overview

The Centre was founded in 2010 under the name “Cyprus Center for International Arbitration”, following the initiative of a group of persons from various sectors, which included lawyers, businessmen, economists and accountants. The purposes of the Centre initially were the promotion and development of institutional arbitration in Cyprus, the provision of arbitration process management services and the organization of training/educational programs on arbitration.

Since 2012, the Centre has included the provision of mediation services in its purposes and changed its name to the “Cyprus Arbitration and Mediation Center”.

Since 2020, the Centre belongs to the Cyprus Bar Association (CBA) as its sole member and operates under its auspices. The main aim of the CBA is for the Centre to become the core of its efforts to promote arbitration, mediation and, in general, alternative dispute resolution methods in Cyprus.

The mission of the Centre is to provide the services of arbitration, mediation and out-of-court dispute resolution services in general, in Cyprus as well as to inform about and promote alternative dispute resolution measures. The Centre also aims to provide professional training services to arbitrators and mediators as well as to organize informational activities with the aim of promoting and disseminating arbitration and mediation.

The Centre offers arbitration and mediation case management services in disputes mainly of a commercial nature involving both domestic and international commercial relations. The Centre’s services are primarily aimed at the business community, without of course excluding any other person from referring their dispute to the Centre.